- 1 What is customer retention?
- 2 6 tips to improve your customer retention
What is customer retention?
Retention of customers is the problem that any business is looking at, why? Customers are the most important factor in business, they are the ones who decide the survival of the business. And of course nobody wants to “break up” with customers after just one transaction. So how to improve your customer retention? What tips to keep them from staying with our business??
6 tips to improve your customer retention
1. Create a customer loyalty program
A loyal customer will keep coming back to visit your retail store, contribute more money and introduce your brand to others.
The fact that the cost of acquiring a new customer is about 5-25 times higher than selling for an existing customer. When the number of loyal customers increases, there is no reason that can hinder your sales growth.
Promotion is not only a useful tool to help attract customers but also contributes to increase loyalty. But the bottom line is that you must recognize the promotion in your overall brand strategy to achieve the optimal effect.
Currently, customers have many choices for a certain product or service. Therefore, discount or promotion is not only a way to attract more customers but also to have more loyal customers.
3. Build a Community
We all know Apple, Disney or Coca Cola all build huge social networks. Build a community in Social media can be very effective with the right strategy. In order to develop a sustainable community, you need to provide useful information to customers.
The best way is to get customers to talk as much about the brand as possible, when there are negative feedback, please handle it in the most satisfactory and honest way. More and more customers are starting to make a purchase by doing research online. Do not miss the opportunity for customers to talk about your brand!
4. Personalize the customer experience
According to the Harvard Business Review, when using the right personalized content, businesses can increase marketing efficiency by 15% and save 30% of the budget.
Personalizing customer experience is a very important factor for your business. In order to maintain the brand, develop revenue, create a unique style, businesses must focus on this strategy.
5. Provide special customer support
Excellent customer service creates loyal customers for life who are willing to refer your business to friends, family, and colleagues.
You have to make sure they are happy with the products and services you’re selling and the process of purchasing, ordering, working with you. If you do that successfully, you are on your way to becoming known for providing excellent customer service.
6. Listen to customer complaints
Serving fastidious customers you need to be calm and thoughtful, need a lot of time. By reducing the conflict and openness in the dialogue with customers, it will help you a lot in creating for customers the most comfortable feeling and experience when shopping.
In conclusion, a high percentage of customers leaving may cause businesses to suffer heavy losses. However, if you are really trying to improve product quality and customer service, they will stay with you.