We who do marketing often encounter a classic problem:
This is a common problem of low repurchase rate, which is commonly known as few returning customers. Then why is the repurchase rate low?
This set of rhetoric seems to be all right. The cost of acquiring customers online is getting higher and higher, and it is becoming increasingly difficult to increase the number of new online users. Existing users are very important to us, and at this time, improving the repurchase rate of existing users becomes a very important part.
So what are some ways to improve the low repurchase rate? If users buy again, there are only two possibilities: buying our product or buying a competitor's product. Therefore, in the repurchase link, the basic methodology is to increase the user's replacement cost . Here are seven ways to increase user repurchase . 01. Value reservationValue reservation is to reserve a hook for the user's second consumption.
Value reservation is the underlying logic, which means letting users place their value with you in advance and you help them manage it.
The principle is relatively simple, but it is related to many factors such as the industry, products, users, etc. In theory, all products and industries can use value reservation for retention, but it definitely requires careful research. It is not something that can be used right away. Instead, you need to find the method that best suits you based on this logic. 02. Member ValueThe way to realize the value of membership is the membership system. Members are equivalent to a stable light asset for merchants, which can be seen and touched! The return rate, repurchase rate and store visit rate of members are more than twice as high as that of ordinary customers. Often the revenue generated by members may account for more than 80% of the entire store. Generally speaking, there are two principles for establishing a membership system:
03. Circle satisfactionCircle satisfaction means providing different products to meet the different types of needs of users in a certain circle. That is to sell as many products as possible to the same group of people.
04. User GrowthUser growth refers to implanting a user growth mechanism into the product system to stimulate users to have a high level of sense of ownership and make it difficult for them to leave.
05. Network EffectThe network here refers to interpersonal network relationships, which influence behavior in three degrees and transmit information in six degrees. Social media has a network effect.
But network effects don’t just come in social forms.
06. Peak-end ruleUsers' memory of an experience is determined by two factors: how they felt at its peak and how they felt at its end. Therefore, if you want to leave a good impression on users and make them more likely to experience the product again next time, you must pay special attention to designing the part where users leave. The "Peak-End Rule" and "Aha Moment" are somewhat similar, but there are still some differences. The difference lies in that the final pleasant point of the "Peak-End Rule" is that even if the experience during the process is not very good, the experience reaches its peak (pleasant point) when you are about to leave, which will eliminate the unpleasant points in the process.
Think about how you would feel if it were you. It would definitely be great. Next time if you want to buy something, go to IKEA first. 07. Habit loopHelping users form habits should be one of the most effective ways to increase repeat purchases. How do we help users form habits? On the premise that users have a basic desire for the product, users can be made to form habits through the following three methods.
With repeated reinforcement of cues and rewards, a strong sense of participation and desire emerge, and eventually a habit is formed. At this point, the brain does not need to be fully involved in decision-making. Unless you can find a new routine, the habitual pattern you already have will continue on autopilot.
08. ConclusionIf you want to more effectively solve the problem of why product repurchase rate is low, you might want to take a look at these seven methodologies. |
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