The first purchase may be due to a specific situation, a need or an impulsive desire, however, the second purchase could indicate the beginning of a habit. Only about 20% of users who have made a first online purchase will make a second one. This means that only 20% of your effort is related to your brand again.
This prospect may frustrate you as a B2C seller. However, the appearance of a second purchase means that that customer is more likely to buy a third time, or even on a repeat basis.
Converting first-time customers into repeat or loyal customers is no easy task. But there is a reason why many customers return after their first purchase, and your job as a marketer is to discover that reason and overcome it. There are several ways to achieve this, such as: discount coupons, a gift certificate or a raffle.
Just a small increase in conversion rates for argentina email address second purchases will lead to exponential revenue growth. In fact, just 10% more customers could double your revenue.
This may require a shift in the focus of your marketing strategy to find and attract new customers.
Here are some tips:
1. Reassess your marketing investment
Like most brands with an ecommerce business, your investment in Facebook ads, Adwords, and email to acquire new customers is likely a decent amount. Keep in mind that you are not alone, as most retailers spend almost 80% of their digital marketing budget on acquiring new customers. However, remember that it costs five times more to acquire a new customer than to keep an existing one, according to Forrester Research, the independent market research firm.
This situation reveals that your marketing budget is probably out of control. B2C marketers should focus on maintaining repeat or regular customers, rather than attracting new ones.
The advantage lies in the brand recall of existing customers, those who know you and like what you offer. All you need to do is convince them to make that second purchase. This makes sense in terms of ROI alone, investing more in the second purchase.
2. Identify early buyers
Once your goal is to focus on getting that second purchase, how are you going to do it effectively? You can try many tactics, but the first step should be to segment the customer group into more specific groups. Without this list of groups that have made a single purchase, segmentation is not possible.
The challenge is to ensure that each customer on that list has only made a single purchase. This sounds simple, however, it can become a complex task due to the nature of today's retail market.
Many of your buyers will interact with the brand through various channels, through the physical store, online, on social networks, etc. You must ensure who buys, what and when, by unifying the physical identity of each buyer with their online identity.
With the right data, you can ensure that you send a second purchase campaign only to customers who have purchased once.
3. Create campaigns with a clear purpose
By having a reliable segment of unique buyers, you can carry out targeted marketing campaigns to push these customers towards making a second purchase.
The average purchase cycle will determine whether you adapt a second campaign to engage that customer after a few weeks or a month. In addition, you should carefully test the success rate of each campaign, optimizing the timing of each landing or remarketing ad.
For the campaign to be effective, personalization and product relevance must be followed. For example, if a customer makes her first purchase of a women's jacket and then you offer her a discount on men's shoes, it is very possible that this second campaign will not be successful. You must put yourself in the customer's shoes with the information you have from the first purchase and find out what she might want or need, offering it to her in a personalized and attractive way.
A classic strategy for the second purchase campaign is a discount, an offer on products related to the first purchase, or a flash sale. You will need to try different tactics to see which one receives the best return.
Thanks to today's remarketing tools, we have the obligation to try to seduce the customer who has made their first purchase, to achieve loyalty and turn them into ambassadors for your brand.