Krishna Chourasia’s Post

Effective Upselling Techniques to Boost Your Revenue in Ecommerce Upselling is a powerful sales technique that boosts e-commerce merchants' revenue and customer satisfaction. It encourages customers to spend more, enhances their shopping experience, and contributes to a stronger connection to the company and brand. What is Upselling? Upselling is a strategic sales technique that encourages customers to buy an upgraded, more feature-rich, or expensive version of a product, enhancing their experience and increasing sales revenues, thereby enhancing the shopping experience and building customer loyalty. Benefits of Upselling Upselling not only boosts sales but also provides additional value to customers, making it crucial for businesses to implement this strategy. Benefit #1: Increased Revenue Upselling motivates customers to buy higher-priced, high-quality products, boosting earnings and attracting existing customers. Retaining customers is cost-effective and easier to increase sales, as businesses are 60% to 70% more likely to sell to them. Benefit #2: Increased Customer Lifetime Value Upselling motivates customers to buy higher-priced, high-quality products, boosting earnings and attracting existing customers. Retaining customers is cost-effective and easier to increase sales, as businesses are 60% to 70% more likely to sell to them. Benefit #3: Improved Customer Retention Upselling strategies improve customer experience, increase retention, and foster personal interaction. They provide premium products, value customer needs, and build emotional bonds, attracting repeat business and generating additional revenue. Follow for more Abdul Rehman 👀 Let's hear your guess! ~~ ♻️ Repost to spread the love. #savvyecommerce #ecommerce #ecommercebusiness #ecommercegrowth #upselling #upsell #innovation #businessboost

Customer experience, social media, trust, transparency and data critically impact customer retention. Click the link to learn more about the 5 pillars of customer retention. Bhavesh Pitroda | Samir Srivastav | Niharika Talwar | Sagar Bhalotia | #KanchanShah Brand Concepts Ltd | #JosephPaulGeorge #Vismay | Looks Salon | Marsallime | IMAGES Group #retail #customerretention #retention #customerloyalty #customerengagement #customerservice #customers #brandloyalty #loyalcustomers #strategies #retentionstrategy #retail #Indianretail

💡 Why is #customerloyalty crucial in #ecommerce? In ecommerce, acquiring new customers is important, but retaining existing ones is more cost-effective and valuable in the long run. Loyalty not only reduces costs but also strengthens customer relationships, turning them into brand ambassadors. 🎯 Key strategies to boost customer loyalty: 1️⃣ Loyalty programs. 2️⃣ Personalized shopping experience. 3️⃣ Excellent post-sales service. 4️⃣ Exceptional customer support. 5️⃣ Segmented email marketing. 6️⃣ Exclusive offers for returning customers. 7️⃣ Referral programs. 8️⃣ Building a community. 9️⃣ Providing value beyond the product. 🔟 Listening and acting on customer feedback. Implementing these strategies can help build a solid base of loyal customers, which is gold for any business! ❤️ #ecommerce #customerloyalty

They're all using cutting-edge technology to meet a raised bar of online customer expectations that has been set by leading retail and B2B e#commerce standouts, as noted Digital #commerce  360's new Customer Experience Trends in B2B E#commerce Report#ecommerce

𝗘𝗰𝗼𝘀𝘆𝘀𝘁𝗲𝗺-𝗖𝗲𝗻𝘁𝗿𝗶𝗰 𝗟𝗼𝘆𝗮𝗹𝘁𝘆 𝗣𝗿𝗼𝗴𝗿𝗮𝗺𝘀 𝘄𝗶𝘁𝗵 𝗠𝗲𝗿𝗰𝗵𝗮𝗻𝘁 𝗥𝗲𝗳𝗲𝗿𝗿𝗮𝗹𝘀 Traditional loyalty programs have limited reach, focusing solely on a single merchant’s products and services. As a result, customer engagement often plateaus after a certain point, with customers lacking incentives to remain active in the program. Ecosystem-centric loyalty programs will allow brands to cross-promote within a shared network, increasing customer value proposition. 𝗣𝗿𝗼𝗰𝗲𝘀𝘀 1. 𝙄𝙙𝙚𝙣𝙩𝙞𝙛𝙮𝙞𝙣𝙜 𝙩𝙝𝙚 𝙈𝙚𝙧𝙘𝙝𝙖𝙣𝙩 𝙀𝙘𝙤𝙨𝙮𝙨𝙩𝙚𝙢 Criteria for Brand Selection: 𝘊𝘰𝘮𝘱𝘭𝘦𝘮𝘦𝘯𝘵𝘢𝘳𝘺 𝘖𝘧𝘧𝘦𝘳𝘪𝘯𝘨𝘴: Brands that offer products or services aligned with customer needs, but do not directly compete (e.g., a clothing brand partnering with a travel company). 𝘊𝘶𝘴𝘵𝘰𝘮𝘦𝘳 𝘖𝘷𝘦𝘳𝘭𝘢𝘱: Identify brands with similar customer demographics to ensure relevant offers. 𝘉𝘳𝘢𝘯𝘥 𝘝𝘢𝘭𝘶𝘦𝘴: Ensure that all brands in the ecosystem share common values (e.g., sustainability, luxury). Data Analysis and Insights:   - Use customer behavior and transaction data from loyalty programs to analyze cross-purchasing patterns between different categories of merchants.   - Conduct surveys and studies to understand customer preferences for potential cross-brand engagement. 2. 𝙎𝙩𝙧𝙪𝙘𝙩𝙪𝙧𝙞𝙣𝙜 𝙩𝙝𝙚 𝙍𝙚𝙛𝙚𝙧𝙧𝙖𝙡 𝙈𝙚𝙘𝙝𝙖𝙣𝙞𝙨𝙢 𝘊𝘳𝘰𝘴𝘴-𝘗𝘳𝘰𝘮𝘰𝘵𝘪𝘰𝘯 𝘚𝘵𝘳𝘢𝘵𝘦𝘨𝘺: Direct Referrals: When customers purchase with Merchant A, they receive points or a discount for purchasing with Merchant B. Multi-Touch Referrals: A more complex referral journey where customers engage with multiple brands in the ecosystem over time to unlock higher-tier rewards. 𝘐𝘯𝘤𝘦𝘯𝘵𝘪𝘷𝘦 𝘋𝘦𝘴𝘪𝘨𝘯:   - Offer tailored incentives (e.g., extra points, exclusive deals) for customers who engage across multiple brands.   - Merchants can create special offers for customers coming through ecosystem referrals to encourage seamless engagement. 3. 𝙁𝙖𝙘𝙩𝙤𝙧𝙨 𝘿𝙧𝙞𝙫𝙞𝙣𝙜 𝙀𝙣𝙜𝙖𝙜𝙚𝙢𝙚𝙣𝙩: Novelty and Variety: Customers are more likely to stay engaged with the program due to a wide array of offers and products from different brands. Increased Point Utility: By allowing customers to redeem points across multiple merchants, customers feel they can derive more value from their accumulated points.

5 Reasons Why Loyalty Programs Rule Ecommerce in 2024! In 2024, loyalty programs are more crucial than ever for ecommerce companies seeking to maintain a competitive edge and foster long-term customer relationships. Here's why: Driving Repeat Purchases: Loyalty programs incentivize customers to make repeat purchases by offering rewards, discounts, and exclusive perks, boosting customer retention and increasing revenue. Enhancing Customer Lifetime Value: By encouraging continued engagement and repeat purchases, loyalty programs help maximize the lifetime value of each customer, leading to sustained profitability. Competitive Differentiation: In a crowded marketplace, loyalty programs serve as powerful tools to differentiate brands, offering unique benefits and experiences that set them apart from competitors. Insights for Personalization: Loyalty program data provides valuable insights into customer preferences and behaviors, enabling ecommerce companies to deliver more personalized and targeted marketing campaigns and product recommendations. Building Brand Advocacy: Engaged and loyal customers are more likely to become brand advocates, sharing their positive experiences with others and driving word-of-mouth referrals, further expanding the customer base. In summary, loyalty programs are indispensable for ecommerce companies looking to drive growth, enhance customer loyalty, and thrive in today's competitive digital landscape.

Modern Retail has outlined its seven essential eCommerce customer service tips. Would you make any changes or add any items to this list? 1️⃣ Make speed your superpower: rapid response and managing expectations is a given. 2️⃣ Ditch the bots: utilise tech for simple enquiries but make sure you’re offering the human touch for complex interactions. 3️⃣ Set-up robust FAQs: free up your time (and your customers’) by providing easily accessible answers to common queries. 4️⃣ Own mistakes: be honest, up-front and transparent to turn frustrated shoppers into loyal advocates. 5️⃣ Make returns easy: provide a clear, customer-friendly returns policy that’s easy to find on your website. Consider which returns options you’ll utilise to encourage repeat custom. 6️⃣ Be proactive: don’t wait for problems to surface. Proactive communication, including order updates, is a key part of the eCommerce mix. 7️⃣ Use feedback as fuel: regular surveys, review requests and social listening will ensure you stay on the pulse and can make any necessary improvements. Looking to enhance your eCommerce customer service? We can deal with your customer queries while acting as an extension of your brand. Find out more: https://lnkd.in/eRbXXp-h #customerservice #ecommerce #parcels

Experiencing a drop in customer loyalty? Check out our 9 proven eCommerce strategies to elevate retention and keep customers coming back! 🌟 From gamified rewards to personalised perks and unique experiences, these tactics will keep your customers engaged. 💪 - Drive engagement through tailored rewards  - Boost customer lifetime value with smart strategies  - Elevate your brand’s loyalty game to stand out in a crowded market Read our blog for actionable tips and real-world examples that will take your loyalty program to the next level 🔗 https://lnkd.in/gB8F5eNy #ecommerce #retention #strategies #loyalty #rewards

💡 Did you know that it costs 5 times less to retain a customer than to attract a new one to generate a sale? Discover the many customer retention techniques you can use to keep customers coming back! Read the full article here : https://lnkd.in/dtQEC4SH #Fortis #Omnichannel #DubaiStartups #MicroMerchants #Dubai #CustomerRetention #CustomerRetentionRate #CustomerEngagement #DubaiEntrepreneurs #POS #CRM #OMS #OrderManagement

This customer is draining your profits. Marketers don't think of this eCommerce teams don't think of this But it's one of the biggest costs in ecom brands. It's your customer order returns and importantly, repeat offenders. What brands often forget is all the costs for returns. First you have the costs of sending Transaction fees Pick and pack Packaging People Courier ... Then you have the costs of returning Courier People Refund costs Tech to enable returns ... Let's not even discuss the impact on customer services. If you are measuring customer LTV correctly through contribution margin, these add up to significant subtractions. As expected, clothing has the biggest returns rate with some data saying 29% and others up to 56%. Statista reported 27% in 2023. Quick math coming up! Say you have 100 units of a product, you could have 4 rounds of orders to get them all sold (at 29% returns rate). 100*29% = 27 | 27*27% = 7 | 7*27% = 2 | 2 units left to sell. Now imagine what that could be if your returns rate is higher (likely during a sale)! How could you combat it? 👉 Focus on core products for acquisition. 👉 Reduce the usage of deep discounts that promote higher returns rates. 👉 Use customer returns reasons and reviews to enrich the PDP (images, copy, sizing, FAQs, Reviews...). How would you reduce returns? ---------------------- Follow me @ Liam Hooper If you want more content like this 👍