October 15, 2024
In the competitive world of e-commerce, customer acquisition is becoming increasingly expensive. The average customer acquisition cost (CAC) has risen from $50-$60 in 2019 to around $64 for organic methods and $68 for paid methods today (Linkedin). As we approach the holiday season, the challenge intensifies. Many channels e-commerce brands rely on, such as organic and paid search get more crowded as sellers increase bids and create more content to crowd organic search results. It’s not just marketers increasing competition, the landscape is also rapidly evolving. Google is adding more content into its search results making space in organic results even more scarce. For example, according to BrightEdge, shopping results that feature a product grid in organic search increased by 350% in the past year alone! These channels cannot be ignored, but marketers must also offset their increasing costs by maximizing revenue from other areas of the business.
The solution? Ensure you have a loyal customer community. According to CallMiner, U.S. companies could save over $35 billion per year by focusing on keeping their existing customers happy. Let’s explore five strategies to build a customer community using Cohora's platform, transforming one-time holiday shoppers into loyal brand advocates. When implemented, these can significantly reduce the costs required to drive incremental revenue for e-commerce brands!
By focusing on these touchpoints, you're not just completing a transaction; you're initiating a festive relationship that can last well beyond the holiday season.
Understanding your customers' holiday shopping experiences is key to improving their journey and encouraging repeat purchases. Cohora's Branded Quizzes, Polls, and Surveys feature offers a powerful tool for gathering this vital feedback. By doing this you’re capturing critical Zero Party Data which goes beyond typical marketing segments to define your customers preferences. By centralizing this data in a platform you can activate against, you’ll be well positioned to craft meaningful experiences that resonate with individual customers.
Here's how to leverage this feature effectively:
Remember, it can typically take up to three purchases to create brand loyalty. By actively seeking and acting on customer feedback during the critical holiday period, you're laying the groundwork for year-round loyalty.
Reviews play a pivotal role in the customer journey, acting as social proof for potential buyers and reinforcing the decision of recent customers. Cohora's Customer Reviews solution provides the perfect platform to harness this powerful tool during the holiday season.
To facilitate consistent reviews, here are some tips to ensure your customers have a positive experience:
The impact of this strategy can be significant. According to Harvard Business Review, customers who engage with a company's online community spend 19% more than non-community members.
The period following a holiday purchase is crucial for setting the tone of your ongoing relationship with the customer. Cohora's Branded Customer Engagement platform makes it easy to create an engaging onboarding experience with a holiday twist.
Here's how to make the most of the welcome journey:
This strategy can have a significant impact on your bottom line. Loyalty program members contribute to 43% of companies' annual sales (Business Wire).
While holiday sales are important, it's the post-holiday purchases that often mark the beginning of true customer loyalty. Cohora's Branded Rewards provides an engaging way to encourage crucial repeat purchases after the holiday rush.
At Cohora, brands have a turnkey solution to foster post-holiday purchases. With the platform brands can:
The benefits of focusing on repeat purchases are clear. According to a study by BIA Advisory, returning customers spend, on average, 67% more than first-time customers.
Ready to turn your holiday shoppers into loyal community members? Discover how Cohora's innovative features can help you create a compelling community-building journey that lasts all year round.
Schedule a demo today and start maximizing your customer lifetime value through the power of community!