THOUGHTS

5 Customer Centric Ways to Boost Your E Commerce Revenue

Mar 3, 2018

One of the significant advantages of operating online is the effortless access to unlimited data on customer centric trends, preferences, and shopping behavior. E commerce companies can easily gather necessary information based on the past shopping data of their customers. In general, there are three basic ways in which e-commerce companies can spur their revenues – firstly, by increasing the total number of customers, secondly, by increasing the average number of times that each customer buys from your brand, and finally, by increasing the average order value of each customer. But marketers often find it difficult to prioritize between these parameters. In that case what can be the next move? The answer is to have a customer centric approach and knowing exactly what your buyers want. Being customer centric is a sure-shot game-changer in sales and marketing for companies.

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Ways to Implement Customer Centric Marketing Strategies

Psychographic segmentation

Gathering demographic information of the buyers, like age or gender is one of the primary steps towards a customer centric approach. Also, knowing where the customers live and tracking their behavior is an added advantage. But beyond the demographics, customer psychographics plays a vital role in understanding the goals, emotions, values, hobbies, and habits that help drive purchase decisions among customers. Psychographic segmentation is crucial for marketing in a customer centric manner.

Targeted, customer centric promo e-mail

Though e-mail marketing is an efficient and cheap way for e commerce companies to market their products to the target buyers, what makes it successful is the ability to stand out from the other swarm of promotions in the customer’s inbox. Targeted e-mail marketing is a highly customer centric approach, purely based on the customer’s purchase history or browsing data on e commerce websites. This will not only give the customer a feeling of personalization but might also spark an impulse purchase.

Customized checkout

The amount of time customers spend on browsing through products is inversely proportional to the amount of time they want to spend in billing and checkout, this holds true for both brick and mortar as well as e commerce platforms. A lengthy checkout page will result not only in customer dissatisfaction but it might also result in the customer terminating the purchase.

Chatbot conversion optimization

Chatbots are becoming increasingly popular among e-commerce sites, especially due to the absence of a customer care associate to assist the customers like in the retail stores. Chatbots give buyers the opportunity to interact with the brand and get their queries resolved in real-time. Due to massive customer traffic, most e commerce companies have automated chatbots on their websites to cater to customer centric queries. Chatbots can also help in improving the conversion rates.

Authentic reviews

A common trait among online shoppers is to read the product reviews before making the purchase. The main reason for this is to protect themselves from being duped or receiving products that do not meet the expected standards. However, several dishonest players in the online business display fake reviews about a product.  Aiming for customer satisfaction is the key for customer centric companies to be successful. Authentic reviews, be it good or bad is in the best interest of the customer, and therefore is the right move.

To know more about how e commerce companies can promote a customer centric culture in their business – Contact our research experts.

 

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