Targeting the right customer base, becomes very crucial for the success of any e-commerce businesses. And, as per “Forbes”- 2015 will be dominated by millennials customers. They also mentioned, millennials are estimated to spend $200 billion annually by 2017 and $10 trillion over their lifetimes as consumers, in the U.S. alone.
With the above figures, it crucial for any e-tailers to spend time and understand such customer’s needs. Knowing their likings, e-tailers can strategically offer a millennial-friendly sales and customer service experiences, all in an effort to retain them for their ecommerce business’s success.
Who are millennials?
Millennials, also known as “Generation Y,” refers to the population born from the early 1980’s to the early 2000s. (Source- Wikipedia) And, as per an article in “Pew Research Center” – “The Census Bureau” estimates that the Millennial population was 74.8 million in 2014. By 2015 Millennials will increase in size to 75.3 million and become the biggest group.”
Considering the above stats, e-tailers cannot afford to lose any opportunities from this customer base- that any business may have ever seen. But, how can you target millennials into loyal shoppers for your ecommerce store?
5 Effective strategies to convert millennials into loyal customers for your ecommerce store
1- Allow them to shop for your products via all touchpoints they use
If you want to target millennials, the foremost thing, is to analyze what technology and devices they use to connect with brands and shop for products. Technology has come so far, that it allows Generation Y an ability to make purchases almost from any touchpoints available in the market. And, if your brand cannot be accessed from any of those touchpoints, you’ll losing benefits from the most important customer base(millennials) in this year 2015. Therefore, allowing them to access your brand from all major touchpoints, is your first step to win over their engagement level and build relationships.
2- Increase fulfillment speed
Once you allow a seamless access to reach your brand from all major touchpoints they use, you’ll be flooded with orders. However, your job does not end there, instead it begin! Millennials prefer to be loyal with brands that offer them the quickest and safest product delivery. Therefore, focusing more on the speed and accuracy are of utmost importance to win their hearts. The smart way, is to automate your order fulfillment processes to ensure you are able to connect with the smartest and most optimistic shipping solution, allowing you to make the best use out of your resources.
3- Offer flexible delivery options and returns
Gone are those days, when customers were pleased by the idea of shopping for their favorite products and receive its delivery at their doorstep. Not any more! With an increasing popularity of technology, customer’s demand are ever-changing. And, targeting Generation Y (millennials) you need to be flexible with your delivery options. This means, allowing multiple delivery options (home delivery, in-store pickup, etc.) convenient to them, will help you win over many hearts of this group and make them your loyal ones.
4- Consider values
If you expect this group to be your loyal ones, then you also need to give something in return. Unlike previous generations, millennials will more likely choose a brand that offers a loyalty program over brands that doesn’t offer one. Millennials are among those modern shoppers and expects an open give-and-take with retailers. They can be your loyal one, but at the same time they also want something in return. Strategically offer values to encourage millennials and make them feel worthy to stick with your brand, but at the same time ensure this strategy does not hamper your capital.
Targeting all your millennial customers in the same pattern will not help you win the game, instead it becomes important you understand your audience’s demographic, and psychographic to gain the best results from this group. Collecting and analyzing such customer’s data will help you perform brand advocacy and loyalty program in more personalized way across their journey with your brand.