When an existing customer makes a purchase again, this is called repeat purchase, and retaining these existing customers is less expensive than acquiring new customers. Several reports have also shown that existing customers make a promising profit to a seller in comparison to new customers. To inspire a customer for making its second or third purchase, several strategies can be opted by businesses:
Engaging customers post-purchase by targeted messaging is equally important for repeat buying behavior. Usually, brands cease their targeted messaging activities after the initial purchase is made which makes a negative impression in the mind of consumers. These targeted messages can be sent using emails, in-app notifications, and pop-ups, and so on.
Different patterns in buying behavior and intent of customers can be observed at different stages of the purchase. For instance, in the case of replenishable items, it is important for businesses to use their marketing automation strategies in real-time. By sending relevant reminders on time can re-engage customers in making their purchases.
An effective strategy can be the use of promo codes, discounts, and coupons. Rewarding customers on their purchases encourages them to make their purchases again from the same seller. For this strategy, one should also have a solid strategy for promotional events behind such incentive programs because too much use of such programs can spoil the purpose by creating a negative brand perception that will ultimately result in a loss of revenue.
Advertising your stuff for customers who visit your site without making a purchase can bring them back for purchasing action. This is done through the use of a code snippet to see a customer’s interests. Now the customer’s preferences and interests can be noted by the content they watch on social media. Catching the customers through their content searching can make a seller or brand identify their target customers more easily to provide them with the right advertising content to motivate them for purchases.
Also, loyalty programs make customers loyal to their specific brand or seller. The gamified points system, discounts, and offering early access to your new products and services can also make customers coming back to the same store. This is especially an effective strategy in the case of replenishable goods.