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Maximizing Retention, Online and Offline with Post-Purchase Re-ordering & Subscriptions
2022 is the year of retention
The past two years have meaningfully changed how consumers purchase the products they rely on, how they re-order these products, and as a function of that, how they engage with the brands that make their favorite cereal, coffee, pet food, vitamins, beauty products, etc. These consumer shifts have been favorable for eCommerce and DTC as consumers are becoming increasingly digitally reliant. A new consumer behavior that is here to stay is purchasing physical products on a recurring basis. As a result, the subscriptions market for eCommerce and DTC has grown over 90% YoY.
But 2022 certainly hasn't been the easiest year for brands either. Apple's recent privacy policy changes on ad targeting has put significant pressure on customer acquisition, making it even more expensive for brands to get consumers to discover and fall in love with their products. With brands seeing a leaky bucket of users churning after more expensive acquisition, it is imperative that brands make 2022 the year of retention.
While retention may in the past have seemed like a concept that is important to prioritize, but difficult to execute against, today that is certainly not the case. With new tech such as Brij and Prive, brands can now tactically influence retention throughout the user journey. Two critical moments in the user journey are: 1) optimizing how shoppers engage with their purchased product offline, and 2) influencing how a shopper makes the decision to purchase or re-purchase online.
Continuing to interact with customers post-purchase with Brij
After a customer makes a purchase, the next most valuable touchpoints are when the customer is interacting with the product, trying to learn more about the product, and eventually re-ordering. There are a lot of factors that come into play in the post-purchase experience, and for a brand, this is a critically important time to interact with their customers in a new way since they already have their initial buy in. Brij is a no-code platform powering one-touch 1st party data capture, reorder, and subscription opt-in with the simple scan of a QR code allowing brands to collect valuable customer data regardless of the channels they sell through. Brij makes these post-purchase touchpoints easy for brands by leveraging QR Codes on the products, packaging or product inserts that allow customers to interact with the brand and their content directly. Not only does this provide a seamless customer experience, but it also provides the brands with a new communication channel with their customers.
Brands using Brij are able to cultivate a relationship with their customers through educational content, marketing and social media, and by offering special discounts and rewards for engaging with the brand. By having this personalized and relevant content delivered directly to the consumers, brands are able to build brand trust and loyalty. Importantly, Brij facilitates seamless 1st party data capture post-purchase, regardless of the channel the brand sells through, allowing brands to have a direct dialogue with their customers. Now more than ever, it is imperative for brands to create these direct relationships to drive brand loyalty with their customers as they no longer have access to the same levels of customer data and 3rd party information that they used to.
Brij helps brands interact not only with the consumers, but also by connecting the physical product with the digital world. Offering this synergy between the physical and digital world opens up a brand’s ability to leverage additional tools to interact with their customers. An example of one of these tools that brand’s are able to utilize to craft this ongoing relationship and promote retention is subscription provider, Prive.
Influencing shoppers’ decision-making online with Prive Subscriptions
One of the most effective ways to invest in retention and boosting customer LTV is via offering flexible subscriptions that fit in with your customers’ lifestyles. Prive is an end-to-end subscriptions platform that integrates seamlessly with your existing eCommerce platform, making subscriptions easier and more customer-friendly than ever. Within five minutes, brands can set up subscription offerings, from subscribe & save, to prepaid subscriptions, and go live to get subscribers. With Prive, subscription is an easy-to-implement lever to expand upon the purchasing options you provide to your customers.
Once customers discover and fall in love with a product, the ability to purchase on a subscription basis in a way that is easy, flexible, and personalized is critical to incentivizing recurring orders.
By offering a simple and flexible subscription experience, as made possible by Prive, brands can add (or grow) recurring revenue streams, which help brands more effectively conduct demand planning. Brands can establish a long-term relationship and dialogue with their customers, directly increasing LTV and retention, and can make the most out of their acquisition investments.
Prive and Brij go hand in hand to make sure brands invest in the correct touch points throughout the customers’ lifecycle to maximize retention.
Bringing it all together
More and more as brands are focused on maximizing retention, they are looking to cultivate these ongoing relationships with their customers as easily as possible for their consumers. With the rise in importance of retention and painless customer experiences we have seen a rise in the popularity of subscriptions and QR Codes for brands to easily engage with their customers. Prive enables brands to seamlessly set up and provide subscriptions to their consumers. This ease of offering goes hand in hand with Brij which allows brands to easily offer subscriptions to their customers through their QR Codes on the product, packaging, or product inserts.
