If you work in the e-commerce business, you'll know that customer retention is maybe not the sexiest part of the operation, but it's one of the most important. Too often I've seen a relentless drive for customer acquisition - spending $20 - $50 on getting customers to buy.So how does a retention rate of 75% grab you?Tony Hsieh, CEOs of Zappos, a $1bn US online apparel store showed how they get to these numbers in his recent SXSW presentation, and kindly shares his 10 lessons for success in e-commerce with us.[slideshare id=298372&doc=zappos-sxsw-presentation-top-10-lessons-learned-in-ecommerce-03-08-08-1205009434280458-3&w=425]
Summary: Zappo's Keys to Success:
- Customer-centric Philosophy "Powered By Service"
- 5 weeks of "Culture" training
- Fast, Free shipping and free returns (up to 1 year!)
- Repeat Customers:
- word of mouth really works online
- use lots of testimonials
- Customer Service is an investment (not an expense)
- and others... check the presentation.