To the above quote, hopefully we all support. Because acquiring a new customer is easier than retaining an existing customer. At the same time, it is also a well-proven fact that keeping customers is a tougher job than acquiring a new customer.
CUSTOMER RETENTION – THIS IS THE REAL BUSINESS
We all have a set of strategies for finding and acquiring new customers. Every now and then we get a new way to reach the customer and try to convince them for business. But it is the customer retention rate which will constantly result in greater sales.
To keep your customers contented, it is highly important to continuously optimize your customer retention strategies. So we have gathered 10 unique customer retention strategies. This approach can help you improve your customer retention and increase trust and loyalty.
Before we jump any further into the best strategies to boost your business sales rate, let’s understand customer retention.
WHAT IS CUSTOMER RETENTION?
Most of the business believe that if they have a wide spread business with a good brand value, they will surely have customer retention. Yes, it is not at all wrong, because good services and products help you to retain customers up to some extent.
But sooner or later, your customer may just leave…!
At this time, you need to implement some customer retention strategies in your business. And if you stop trying your best to get back customers, they may start feeling that you no longer care about them. In short, the retention strategy helps you build customer relationships and most prominently maximize revenue for your business.
Here are some of the finest customer retention strategies which can help your business.
#1 GIVE PREFERENCE TO CUSTOMER EXPERIENCE
This is highly required in the mobile app development marketplace these days. Today most the apps think that they build their apps considering the customers’ experience and requirements. But in reality, they listen to less than 1 percent of their customer base. That means that the voice of more than about 99 percent of their customers is neglected and their advice and loyalty are not prioritized.
So to boost customer retention, understand your every customer. Delight has its place. However, customers see fast, friendly, and consistent service as the gold standard.
#2 EMBRACE PROACTIVE ENGAGEMENT STRATEGIES
Proactive engagement is an approach to customer support, where companies actively make the first move to understand their customers and sort their issues. Retaining the customers depends a lot more on the way you engage to your customers. It is a promising approach to safeguard your existing customers.
Frost and Sullivan also found that 87% of customers have a positive image of companies when they follow up with them.
#3 GIVE ATTENTION TO CUSTOMER REVIEWS
It is always a best idea to know what your customers want from your product at first place. That’s why a lot of companies and app development companies make use of ratings and reviews software to gain insights about their apps or products.
#4 MODIFY YOUR LOYALTY PROGRAM
Loyalty program is one strategy that fits all needs to boost your business. It is a cost effective way to win your customers’ trust and grow your business. Loyal customers trust your business, which encourages them to spend more.
Focusing on actions like sharing informative content, enhance social shares, and refer your services to friends, helps you improve your brand engagement.
#5 KEEP CUSTOMERS UPDATED
Treat your customers like associates, rather than profit generators. This makes them feel like part of your company. This is the best way to retain your customers making them feel that they are valued. Keep them informed about the new developments at your business or with your products.
#6 AN APP WITH EASY TO USE FEATURES
An app for your business or startups provides a seamless experience to your customers. You don’t need to be a publication house, but a simple mobile app with rich content and user friendly features help customers reach your business anytime.
This indeed a best customer retention solution, isn’t it?
#7 LIMITED TIME OFFERS
We have seen many eCommerce brand often comes up with this strategy giving a time-limited advertising on their website. Within the time slot, user must complete the purchase and promotional coupon code or gift card is automatically used during the checkout procedure.
This helps eCommerce websites bring customers back and make more purchase.
#8 PUSH NOTIFICATIONS
Best advantage of doing the business app way is the push notifications, helping customers to remind your products. According to a market research, a customer needs to see your product 7-8 times, before they make a purchase.
Push notifications can be used as a way to remind customers about the new offers, new products, product details or even the left out cart.
#9 REFERRAL PROGRAM
This strategy has gained a good momentum these days. So come up with a best strategy that not only focuses on increasing your customer base, but also maintains the result of your business.
#10 DON’T OVER-PROMISE
Simply said, never promise things you are not capable to deliver. Over-promising or failing to deliver what being promised is a way to lose integrity. So keep your promotional offers as accurate as feasible.
WRAPPING UP…
Focusing your time and energy on improving the experience for your existing customer base as oppose to always trying to find new customers can be a powerful way to supercharge revenues for your store.
When was the last time you made an effort to re-engage customers to get them to come back?
If you’ve yet to market to current customers after the sale, now is a good time to build a cohesive strategy for customer retention. Reach us and let’s look at how to get started.
