Merchants know that it’s more expensive to acquire new customers than retain existing ones. Plus, loyal customers do more than make repeat purchases. They talk about the business and its products, driving more shoppers. So it makes sense to shift some of your marketing efforts to retain the buyers you already have.
Here are five ways to do it.
Offer subscription-based purchases. The subscription-based industry has been on the rise for years.
With “subscribe and save” options, companies can retain more customers at a lower cost. Monthly or quarterly shipments need only arrive by a certain date. Knowing that date far in advance, merchants can ship the products using the least expensive methods.
Subscriptions make sense for both consumable and occasional products. As the number of subscribers increases, merchants have more leverage to negotiate with manufacturers and suppliers.