For sure. If you are the only butcher in your village.
It is always an interesting argument and for sure valid for some areas. If the butcher in a village states this, he will be right, because every single inhabitant will buy his meat.
Nobody is „the only one“ anymore
Due to the transparency on the internet, the behavior of buyers changes quickly. Nobody is „the only one“ anymore. The search for products happens online. Even Amazon, known by most people today, invests millions every month to be re-found. Surely there are returning clients with raising brand awareness. But only a fraction returns by themselves. Successful e-commerce companies produce a healthy relation between retention, paid marketing and presence on Google, each about one third.
That means buyers, who bought before, want to be won back. In trading machinery the inventory naturally fluctuates a lot and the buyers are normally not constant “consumers”. The potential buyer can not be sure in advance to find the equipment needed with a certain trader – a case for an overview from the internet.
Shortly we published an academy article where we looked at the different visitor channels of a trader website and its importance.
Buyers become regulars only after the 7th transaction
Clients, that visit the website after a deal in the past are called „reactivated“. That means when I bought a book on Amazon, I may search on Google the next time and ideally find Amazon at the first glance. This way I can return to the brand known to me and it is assured that I buy again with Amazon. An e-commerce study has shown, that often buyers become regulars only after the 7th transaction and the tendency to look somewhere else is reduced dramatically.
So also for returning buyers the following is valid:
- We need to care for them in the decision phase of a machine
- There is a big value to be present with the offer online, where buyers search
- We need to understand where the buying process started to understand if the budget spent was relevant for the sale
The first engagement with your customer is the most important one
Of course the topic of reactivation does not include the acquisition of new clients. If a cow eats always from the same meadow, the grass is not growing higher. The same happens if you do your „marketing“ only on the meadow of past clients. Therefore TradeMachines stands for the generation of international new client groups.
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Why the hell do we share our knowledge?
We are experienced e-commerce professionals, passioned in mechanical engineering. Digitalization means change for every industry. This fact creates winners and losers. We’d love to see our clients and partners as winners – that’s all!