Conversion rate is a crucial metric for businesses looking to increase revenue. But why is this? Well, it helps retailers understand how many potential shoppers they were able to transform into happy customers. Ultimately, making it one of the most crucial aspects when analysing business performance and ensuring revenue remains consistent.
However, this has led to the post-purchase experience being overlooked when it comes to revenue generation. Many retailers assume, and understandably so, that the opportunity to convert is over once the customer has bought their items - but this is far from the truth.
Retailers can find plenty of chances to gain more happy customers and ultimately boost business performance after a purchase is complete.
Here are three ways that retailers can use the post-purchase experience to generate more cash:
Increasing customer engagement and conversion
When you order products online, it can tend to be a rollercoaster ride of emotions from beginning to end. Whether you're buying something you absolutely need or just something you really want, once you hit that order button, you're in it for the long haul until it arrives at your doorstep. It's human nature, really. We desire what we don't have, and that desire gets even stronger when we know it's on its way.
This part of the purchase journey is a goldmine for retailers. Research shows that transactional email open rates are, on average, between 80% and 85%. This means that you have a captive, curious audience; opening, reading, and engaging with your brand. This means that every delivery update and post-purchase message is a chance to boost the bottom line and retailers need to make the most of this opportunity.
Transactional emails and tracking are game changers for boosting customer engagement and conversions. Among them, post-purchase emails are the gold. They hit customers' inboxes with high priority, making them the perfect opportunity for brands to showcase related products, offer personalised recommendations, and sprinkle some exclusive deals. By getting creative and nailing these emails with a fun and casual tone, brands can keep customers interested, drive repeat purchases, and turn happy customers into loyal brand ambassadors.
In addition to this, making use of the free space on tracking pages is key, as it is a place where customers are likely to be open to suggestions about extra purchases that complement what they’ve just bought[VM1].
In addition to this, making use of the free space on tracking pages is key, as it is a place where customers are likely to be open to suggestions about extra purchases that complement what they’ve just bought
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Using your own tracking pages and comms
As we all know at this stage, customers want to know the status of their deliveries and often, they will go and visit a tracking page themselves. Of course, it is common for some retailers to have tracking pages sorted by the carrier. But with such an engaged audience, it is more beneficial for retailers to control this part of the purchase journey.
If you're handling all your own communications and utilising your own tracking page instead of relying on carrier-owned delivery experiences, you've got an incredible chance to ensure your marketing messages stay consistent. That means maintaining a cohesive brand journey from the moment customers land on your site to the moment when their eagerly awaited parcel arrives in their hands.
Brands need to embrace the power of consistency. With every interaction, those seasonal promotions, limited-time sales, and exclusive offers should be front and centre and with your own tracking and comms, you can deliver an experience that goes above customer expectations.
Retailers should be strategically using these high-traffic tracking pages to build connections with customers through targeted ads and personalisation. This approach allows retailers to optimise customer engagement and ultimately boost revenue.
How to keep your customers
Customer retention and brand values go hand in hand. Surprising as it may seem, Sorted’s research says34% of consumerssaid they now only shop with brands they’ve had a positive experience with previously.
Customer retention and brand values go hand in hand. Surprising as it may seem, Sorted’s research says
34% of consumers
said they now only shop with brands they’ve had a positive experience with previously.
In today's competitive landscape, where options are aplenty and customer expectations are soaring, it's no longer enough to simply attract new customers. Building a loyal customer base requires going the extra mile to create exceptional experiences that leave a lasting impression.
And the beauty of it is that when your brand values align with the values of your customers, that connection deepens. It's not just about the products or services you offer; it's about the values you stand for, the causes you champion, and the impact you strive to make in the world. Customers are increasingly seeking brands that share their values and actively contribute to something meaningful.
The bottom line
Ultimately, through consistently delivering positive experiences and staying true to your brand values, using your own tracking and comms and making the most of transactional emails, retailers can become the go-to choice for its customers.
In the difficult competition ground that is retail, it is often hard to be the trusted companion in such a vast marketplace. All retailers can do is control what is in their power, and this means making the most of every opportunity to improve the customer experience, build meaningful relationships and boost the bottom line – and the post-purchase experience offers a great opportunity for just that.
[VM1]I think this is a point that fits the first point (emails and tracking to increase engagement and convert more…).
I think this is a point that fits the first point (emails and tracking to increase engagement and convert more…).