For e-commerce platforms, traffic is customers. Having traffic is equivalent to having orders, so many sellers are struggling to get more traffic, and are obsessed with spending money on in-site advertising, such as reporting flash sales, doing off-site discounts, deals, etc., but they all ignore maintaining existing customers. They don’t know that the cost of secondary conversion of existing customers is actually much lower than expanding new customers. Small and medium-sized sellers say that they have no resources, so what are resources? Resources are customer pools, which are loyal customer groups cultivated from customers who have placed orders in the store. If sellers want to have traffic, they must increase the repurchase rate of store products. Increasing the repurchase rate of products and establishing a customer pool for stores can help improve conversions, and it will be much easier for sellers to launch new products in the later stage. If you want to increase the repurchase rate, you can consider the following aspects.
1. Product selection
Products are king. If sellers want to increase the repurchase rate, they must first ensure that the quality of the products is up to standard so that customers are willing to buy them repeatedly. If the product is defective or the price of the product is inflated, it is absolutely impossible to retain customers. Secondly, the life cycle of the product cannot be too long. For example, a product like a TV that can be used for 5 to 10 years after a purchase is difficult to form repeated purchases by customers. However, fast-moving consumer goods such as pens, notebooks, and mobile phone cases have a short life cycle and are publicly disseminated. Customers are very likely to buy them multiple times a month and will guide more buyers to buy them. In addition, product lines are complementary, and divergent product selection centered on one product can also increase the customer’s repurchase rate.
For example, if a store sells mobile phone cases, the seller can consider what other products the person who buys the mobile phone case may need, then other accessories such as data cables, headphones, tempered films, and mobile phone holders can be developed as store product lines. If the seller’s product is an outdoor tent, the product can be extended to outdoor backpacks, outdoor emergency lights, etc. Functional electronic products can consider product upgrades. If a customer buys a mobile power bank with a single USB port for charging, and the store launches a dual USB fast-charging version of the same model of mobile power bank, the customer has a good experience with the existing model, and when the seller launches an upgraded version of the product, the customer will be very interested in buying it.
Second, reasonable pricing
Price is one of the important factors that customers consider when selecting products. Reasonable product pricing can help sellers reduce customer churn and increase repeat purchase opportunities. Product prices must be adjusted accordingly based on market trends, but price fluctuations should not be too frequent. Frequent price changes will disgust buyers and make them think that sellers are unprofessional. Sellers will lose loyal customer groups and reduce repeat purchase rates. Excessive price fluctuations will also lead to the loss of shopping carts.