Live Shopping Education - Objective: retention #7

With acquisition costs becoming increasingly high and stricter GDPR regulations, the key performance indicator (KPI) to focus on for sustainability and profitability in your business is undoubtedly the retention rate. A returning customer is one who doesn't require new acquisition costs. The longer they remain loyal to the brand, the more valuable their CLV (Customer Lifetime Value) becomes. There are different marketing techniques to increase the retention rate, and Live Shopping is one of them. Here are 3 reasons:

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1. Novelty: Create unique and innovative content to always surprise your customers. Live sessions allow you to create regular video content on specific themes and fill an event calendar in the long term.
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2. Interactive: Live, Replay, or Shoppable Video are interactive video interfaces. By offering your customers the opportunity to discover, learn, add to cart, and purchase directly, you can improve the user experience and foster retention.
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3. Emotion: As we can never stress enough, create Brand Love! Live Shopping is one of the best marketing tools to evoke emotion and affection. If a customer loves and recommends you, their relationship with you will be long-lasting and promising.

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Discover how Glownique gets 3 times more views on its product pages!

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Retention Objective Checklist:

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Now, here's THE essential checklist to successfully achieve your Retention objective with Live Shopping:

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• Create real appointments: By regularly hosting Live Shopping sessions, you will establish a schedule and consistency with your community. Don't let them forget about you!
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• Imagine unique content: Each Live should be unique. Innovate regularly to avoid losing your community's attention.
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• Ask for feedback: During or after each Live, don't hesitate to ask your customers for feedback on your communication. Having their feedback will help you improve and align with their expectations.
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• Reward your customers: Offer exclusive discounts to your customers during your Live sessions. They will feel rewarded for their engagement with your brand, motivating them to keep coming back for your sessions.

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Ready to skyrocket your Retention objective during your next Live?
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We'll see you for the 8th episode with a new goal to aim for, to make Live an essential tool in generating revenue.