Authored by Raghunandan Saraf, CEO & Founder, Saraf Furniture
The post pandemic crisis has seen an upward growth trajectory for the furniture e-commerce industry. Even today, consumers prefer the safe, convenient, hassle-free, and comfortable experience offered by online shopping platforms. The restrictions and lockdowns compelled previously hesitant businesses to take the leap. With many new businesses coming up in 2022, companies must brace themselves for increased competition from new entrants into the online market.
One way to drive your furniture business in a sea of other competitive players is to improve its post-purchase customer experience delivery, an often neglected part of e-commerce business strategy. While there is a lot of emphasis on raising brand awareness and providing a great pre-purchase experience to drive sales, companies frequently overlook the fact that a trustworthy relationship between a brand and a consumer is formed once a customer clicks on the buy button.
In a crowded e-commerce world, it is no longer enough to focus only on making sales. The post-purchase customer journey has become a vital factor for long-term success in online retail and building a strong and sustainable business.
As per a recent study conducted by Bain and Company’s Fredrick Reichheld, increasing customer retention rates by 5% increases profits by 25-95 per cent. Customers today look for faster delivery, efficient parcel tracking, better communication, and easier free returns. To stay in the game-enhancing post-purchase services is more of a necessity than an option.
Some components of the post-purchase journey that can build or break your brand’s reputation include seamless order tracking, technical assistance, and return and refund. A customer’s post-purchase experience affects their view of your organisation and their decision to return or not.
A consumer impressed by your post-purchase service is more likely to skip the first two customer lifecycle stages – brand awareness and purchase interest – and proceed directly to purchase intent. There is so much competition out there that it would seem obvious that companies would use every opportunity to convert leads to customers and one-time customers to regulars.
A successful post-purchase experience helps in increasing your customer retention. Existing customers develop a sense of brand loyalty. When they need something, they are more inclined to look for your brand. 93 per cent of customers are more likely to buy from a firm that provides exceptional customer service again.
Offering product recommendations or a discount coupon during the post-purchase journey can help increase the sales and revenue of the company. An optimized Post-purchase customer experience also leads to customer advocacy. 92% of customers have said that they trust the product purchase recommendations made by their family and friends.
When you provide the care and support even after they purchase, you show them a reason to stay with your company. This positively impacts their experience. As a result, they are more likely to share their experience within their network and vouch for your brand.