Customer post-sales experience has far overtaken price and product and is now the most important criterion for customers in their buyer journey.
But how big is the change? A study by PwC points out that 86% of customers consider a positive post-sales experience as their top priority. And your competitors know this!
Leading e-commerce brands have made providing a positive post-sales experience their top priority, so much so that according to a Gartner research in 2022, 81% of the e-commerce brands compete mostly or completely on the post-sales experience.
If you're looking to increase your revenues, one of the best ways to do so is to focus on improving your post-sales experience and building a long-term relationship with your customers.
- 1. A positive post-sales experience increases customer retention rates.
- 2. Open up cross-selling and up-selling opportunities.
- 3. A good post-sales experience can get you referral sales.
- 4. Get good reviews and testimonials.
- 5. A positive post-sales experience brings down your CAC.
1. A positive post-sales experience increases customer retention rates.
It's no hidden fact that today retention drives revenue. A study by SmallBizGenius points out that almost 65% of a company’s business comes from repeat customers.
Repeat customers also tend to spend more than first-time customers, a Cap Gemini study shows that customers with a strong brand attachment deliver 23% more profit and revenue than the average customer.
A report by BIA/Kelsey and Manta revealed that returning customers spend 67% more than new customers. But how important is the post-sales experience in customer retention? 73% of consumers think that a good experience is key in influencing brand loyalty.
At a point when the market is full of options, only happy customers are repeat customers. In a consumer-centric market, even the slightest issue with your post-sales experience can make your customers shift to your customers instantly.
By providing a positive post-sales experience, you make sure your customers are always satisfied, and by building a long-term relationship, you make sure they keep coming back for more.
2. Open up cross-selling and up-selling opportunities.
Customers will only be open to interacting with your brand again if you can win them over in your first interaction. According to Forbes, it is much easier to sell a product to an existing customer. When marketing to a customer, you have a 65% chance of converting an existing customer, while that likelihood decreases to 13% for a potential new customer.
Upselling and cross-selling is a difficult art to master, but once done right, they can take your brand to new heights. Successful upselling requires a combination of providing a delightful post-sales experience and remarketing effectively. To do this, you should have a tool which helps you ace both.
Dyrect's one-click product registration software helps you deliver a delightful post-sales experience to your customers while at the same time bringing your first-party data off all your customers (including your marketplace and retail customers). Know more about us here.
3. A good post-sales experience can get you referral sales.
90% of people trust suggestions from family and friends. No marketing message of yours can be as effective as a personal recommendation.
People love talking about their buying experiences with their friends and co-workers, and providing a positive post-sales experience to current customers can make them turn into your brand ambassadors.
Unfortunately, negative experiences are passed along even more quickly than positive ones. If you provide an unsatisfactory post-sales experience to your current customers, you not only lose them but also the people with whom they share their experiences.
Today, customers not only share their experiences with people they know but also on their accounts, using social media platforms such as Facebook, LinkedIn and Twitter. Hence it's vital to keep customers happy enough that they'll want to tell others about it, which can drive sales.
4. Get good reviews and testimonials.
88% of people trust online reviews written by other consumers as much as they trust recommendations from personal contacts.
Customers are sceptical about going for new brands, and positive testimonials and reviews can be the strongest part of your marketing copy in attracting new customers to your e-commerce brands.
You would want to collect as many reviews from your current customers as you can and use them periodically on your marketing message.
Getting positive reviews from your customers solely depends on their post-sales experience with your brand.
5. A positive post-sales experience brings down your CAC.
According to Dimension Data, organisations that worked on improving their customer experience saw a 79% reduction in their costs and the biggest part of this came from reduced CAC.
The above-mentioned four benefits of a positive sales experience directly contribute to reducing your CAC.
A positive post-sales experience majorly helps you bring down your CAC by -
1. Allowing you to make the most of already acquired customers.
2. Help build trust with new customers.
There are several ways to improve customer experience, but some of the most effective include providing excellent customer service, offering high-quality products or services, and making it easy for customers to do business with you.
Consider what you can do in each of these areas to take your customer experience up a notch and increase your bottom line in the process.
At a point when the market is full of alternatives and options, a superior and satisfactory customer experience is an absolute must for customer loyalty and retention.
However, customer experience acts as a double-edged sword if you fail to have an unparalleled and satisfactory post-sales experience for your customers, they will move to your competitors, even if that includes paying a higher price for a similar product/ service.