Lace up your sneakers, put your sweat bands through the washing machine, make a pitiful attempt at a couple of lunges and let’s go for a run.
Don’t worry, I’ll catch you up later. I just have some work to finish around… this… uh… hot-dog.
Nike is the world’s most valuable sports brand according to Forbes. It has a market value of $71bn, $19bn of which is estimated to be pure brand value. Nike also commands 62% of the US athletic footwear market.
Impressive stuff, but what of its nearest sporting rival Adidas? Has it been left puffing and wheezing, meters behind its striding opponent as it desperately rummages around its kit bag looking for an inhaler?
If you do this, you’ll also find that it’s much cheaper to retain a loyal customer than it is to constantly acquire new ones. 82% of companies asked in our Cross Channel Marketing report agree that customer retention is cheaper than acquisition.
Customer retention is a must for any business where its goals are for long-term success. Here are some of the ways that you can achieve this.
Forcing users to register their details before they checkout is one of the quickest ways to lower your conversion rate.
Once a customer is ready to buy something from your store, presenting them with page after page of forms in which they need to fill out the most unnecessary of personal details is a sure fire way to litter your site with abandoned baskets and disgruntled customers.
That’s why guest checkout is a must-have feature for almost every online retail experience.
As I mentioned in my best practice guide to guest checkouts having a guest checkout doesn’t necessarily mean losing out on valuable customer data, it means adopting practices that put the customer experience first.
Using guest checkout as the default option, then offering to ‘save the customer details’ after purchase can help lower cart abandonment.
Saving customer details implies convenience, it puts customer experience as the primary focus. ‘Registering’ implies future marketing spam.
Also, if your site automatically fills in any details that the customer has already given you, such as name, address and email, all your customer needs to do is choose a password.
Boom! Conversion achieved. Customer satisfaction achieved. Data achieved. Easy.