New data from 300+ retailers and 125M consumer retail interactions inspires launch of post-purchase benchmark, which reveals new opportunities for retailers to strengthen customer relationships SAN FRANCISCO, CALIF., March 20, 2017 — Retailers that craft the post-purchase customer journeys to be proactive, relevant, and emotionally engaging foster stronger customer relationships and drive more repeat business, according to the Narvar Post-Purchase Benchmark 2017.
The benchmark report is based on customer engagement data from over 300 brands and retailers over the course of the year and distills key insights by merchandise category, retailer type, average price point, and other dimensions.The report compares pre-purchase with post-purchase, and the data shows that customer engagement is sky-high during this window.
When shoppers track their packages, they engage 3.1 times on average on the Narvar platform. This presents an opportunity for retailers to reach customers repeatedly during the delivery anticipation window. In addition, those pages see a click-through-rate on marketing assets that is 3x higher than average marketing emails, which garner 3.5% average click-through-rate on average.
Data from 300+ retailers and 125M consumer interactions provides quantifiable method for retailers to measure the health of their post-purchase experience.
To empower retailers to engage during this new moment of truth, Narvar will share specific benchmark insights with its clients, so they can access real-time and historical visibility on how their post-purchase strategy compare to overall industry averages, and to averages from their vertical.
Clients will have access to post-purchase benchmark data for tracking frequency, feedback (CSAT) score, marketing and support click-through rates, delivery notification opt-ins, and mobile traffic. This will allow retailers to better understand consumer behavior, engagement and revenue drivers.
“Consumers have spoken and the message is clear: they want brands to actively engage with them after purchase. Retailers are recognizing that they can turn this interest into engagement, and then loyalty,” says Amit Sharma, CEO of Narvar.
“We created the Narvar Post-Purchase Benchmark to help our clients on this journey, so they can continuously measure and evolve their post-purchase strategies to drive meaningful business results.”In conjunction with the public release of this first-of-its-kind benchmark research, Narvar will concurrently offer deeper post-purchase benchmarking capabilities for their clients. Contact Narvar.
Proactive notifications from retailers increase customer satisfaction.
In addition to the information on the tracking page and in-email, a large number of customers also opt-in for delivery notifications to be pushed to their mobile device. Customers on the Narvar platform can opt-in for updates on Facebook Messenger and/or SMS. As opt-in rates increase, the average feedback score increases an average of 18%.
When customers are kept in the loop on where their package is, they are happier with the experience – even if there is a delay or other issue.
“Consumers have spoken and the message is clear: they want brands to actively engage with them after purchase.” - Amit Sharma, CEO of Narvar.
Mass Merchant, Luxury, and Footwear lead the pack in post-purchase.
These retailers have demonstrated they can keep customers engaged and satisfied after they buy.
They have also successfully driven customers back to shop for new products while they await their order. Food/Drug retailers have the greatest room for improvement in driving post-purchase satisfaction.The Narvar Post-Purchase Benchmark is available for free download.
Amit is the mastermind behind Narvar and its CEO, drawing from 18 years of experience shaping business operations at companies like Apple and Walmart.