Build Customer Loyalty and Customer Retention Strategies are one of the two major concerns if you own an e-commerce store. The Sales of your online store depend on the factor that if you are successful in gaining happy customers around or not. In the e-commerce industry, once you become successful in building customer’s trust, it becomes easy to get a boost to the online sale in a jiffy.
Having said this, all you need to do is just explore to have the reward system for your customers and let them shop more from your website.
Digital Wallet Concept is widely implemented in every other plugin created for e-commerce platforms. Let’s talk about Shopify if you own a Shopify store then, there is no need to develop this via codes.
There are lots of apps in the App Store that can be simply installed to your Shopify store with ease on a subscription basis. Wallet Management by Webkul is one of them if we want to have wallet concent in our e-commerce store.
Most importantly, as we are discussing rewards here, offering Cashback to customers can be the ultimate idea. And the Wallet Management App for Shopify is all set to put forward this feature for you.
e-Wallet: Bring Enhancement in Online Payment
With the enhancement of online shopping pattern, Payment platforms also continue to evolve. Whether it is in the form of e-Wallet concept or by any other concept of online payment transfer. We can observe the involvement of a large audience who are switching from an offline payment method to an online payment method. This is because of the fastest transaction speed & a well-managed platform to have the complete transaction details.
e-wallet Concept is changing the way to share/transfer money with family, friends & relatives. Talking about the e-commerce industry, the e-wallet concept is booming like ever. The reason is quite obvious. As the e-commerce world is all about buying & sellers of products online, there are tones of sharing & transferring of money processed on a daily basis.
Considering this fact, we need to think one step ahead to implement the e-wallet apps so that being a merchant; we can let our customers avail the wallet benefits on each transaction done from our store.
Following are some advantages of using e-wallet while purchasing products.
- Real-time transactions from anywhere.
- Connected with Crypto Trends.
- No Need to carry a wallet in hand.
- Fast Payment Transactions.
- A Secure Option to money transfer.
Offer Rewards & Build Customer Loyalty
Being an online store owner, we always think of upgrading our website by integrating new features. Especially when it comes to the payment process, we always need to think twice. This is because it includes the involvement of not only the store merchant but your valuable customers too.
And if we own a marketplace then, vendors will also be involved who can sell & fulfill your products from their end. So, in addition to the requirements of a secure payment method, you need to think of introducing e-wallet concept to your store as well as this concept will retain your customers.
Both of these requirements can be fulfilled using Wallet Management App for Shopify. So, let’s proceed to get into the details about the exceptional features & functionalities of the wallet app.
Following are Some Fruitful Strategies to Retain Potential Customers:
Strategies to Retain Customers
- Offer Cashback to Customers
Customers love to have cash back in their e-wallet while purchasing products. So, you can have the ability to create cashback rules & conditions based on which the customers will have the cash back in their wallets.
2. Money Transfer from One wallet to another
Transferring money always takes place between two friends or relatives. This becomes more easy with the Wallet Management App. This app facilitates the users to transfer money from one wallet to another. Thus, customers can now have more flexibility in payment transfer via wallet.
3. Reward Customers on New Registration
Offering reward points to new customers will let the customers explore your brand. Wallet Management App helps the merchants to provide cash back to the customers once they get registered for the first time to your website. Thus, you can have more customers in less time span.
4. Refund Request Option for Customers
Offering refund request option to the customers builds trust among customers. This feature is already there in the wallet app through which customers can anytime request the admin to refund the amount. You as a merchant will get the request & refund the money to the customer’s wallet.
This seamless transaction of the amount between the merchant and the customer will help to build up trust & long term relationship between them.
5. Aware Customers about Wallet Cashback
How customer will get to know how much amount he/she needs to spend in order to get cash back?
You can grab this idea of showing a banner or label on the cart page of your store. Now, once the customer adds the products to cart and added amount is not satisfying your cashback rule then, at least he/she will know how much the additional amount he needs to add in order to earn cash back on that purchase.
Being an e-commerce store owner, once you follow the above strategies, you will have a huge list of potential customers who will be actually knowing your brand value and trust you undoubtedly.
Among 100, it is better to have 20 loyal customers instead of 80 one-time customers who actually don’t know your brand value to that extent.
And if those 20 customers will be happy with your brand & support, they will last forever and you can retain them easily and will help other customers to know & try your product. This increases the chance of improving the sales performance of your website as well as the number of genuine customers.