By Efrat Vulfsons
Ecommerce churn happens when a customer stops purchasing from an ecommerce business. Every business faces churn, however the churn rate varies from company to company, with some having a higher churn rate, while others a considerably lower one. One of the main reasons behind ecommerce churning is customer dissatisfaction. A customer is likely to stop consuming from your site if he or she is dissatisfied with the services you offer. There are certainly other reasons for ecommerce churn, and so it’s important that you identify all the issues your customers are facing with your business in order to reduce ecommerce churn.
Conducting market research is a good way to reduce ecommerce churn by gaining consumer insights. There are many text analytics tools available in the market that you can use to conduct this key research. With this in mind, we have curated a list of top tools that you can use to reduce ecommerce churn. However, before we begin, let’s see why market research for ecommerce is important.
Why Market Research for Ecommerce Is Essential
Market research plays a significant role in the growth of an ecommerce business. You can optimize your web pages and increase sales with quality market research, as it will collect the data you need to properly analyze your consumers behavior and make important changes. It also helps you learn more about your target audience, running sentiment analysis, and is key for business strategizing.
The consumer insights gained through market research can be used for improving your products/services, and connecting with your consumers on a deeper, and more personal level. Customers are more likely to buy from you if you can meet their expectations. For that, you certainly need market research.
Top Tools to Reduce Ecommerce Churn
There are some effective tools available in the market to reduce ecommerce churn. Below is the list of top tools to accomplish this.
- Revuze: Effective market research for ecommerce can help reduce ecommerce churn. Revuze is a great digital, consumer insights-gaining platform that helps you with market research. It uses AI-driven tools to gather data, and analyze it to collect valuable customer insights. Consumer insights is an evaluation of the trends in customer behavior, and a way to learn about customers’ opinions, feedback, and views about your products/services. It’s a great way to understand why your customers are dissatisfied with your products, and what you can do to improve them. As a result, you will be able to reduce your ecommerce churn by improving your products, and the areas in which your company lacks.
- Cratejoy: Cratejoy is an amazing all-in-one ecommerce platform that helps reduce ecommerce churn. It allows you to start your own subscription-box business whereby you can sell different products at a faster rate. It takes care of everything that an ecommerce business needs. You can integrate Cratejoy with other apps easily to boost your sales.
Moreover, it takes care of shipping, and customer care support. Most importantly, it has integrated market tools that help you to promote your brand on various social media platforms, besides taking care of the SEO features. You also get the feature of data analytics with Cratejoy. Analytics is important to gain insights, and track your growth and sales.
- ChurnBuster: One of the reasons why it’s important to deal with ecommerce churn is to decrease the chance of customers facing failed payments. One of the ways in which ChurnBuster helps you reduce churn is by making sure that your customers update their payment details. To do so, ChurnBuster sends emails, text messages, and even calls the customers to ensure that they don’t face any problem with making payments. Moreover, you can also monitor churn metrics with ChurnBuster. It is a one-stop solution to reduce churn, and monitor them.
No ecommerce business wants a high percentage of churn rate. A higher churn rate means losing more customers, and obviously, no company wants any of their customers to stop consuming from them. There are various reasons why commerce churn takes place, and customer dissatisfaction is the most obvious one. It’s crucial for a company to reduce ecommerce churn in order to retain its customers, and grow their business. For this, companies first need to know the reasons behind the churn they face. Market research plays an important role in identifying the weaknesses of your business, and the problems your customers are facing. You can reduce your ecommerce churn by using tools such as Revuze, Cratejoy, and ChurnBuster. Try out these tools to increase your customer retention, and you can thank us later.