According to Kissmetrics, retaining an existing customer costs between 5 and 7 times less than gaining a new one. Customer retention is not only cost-effective but also an amazing branding exercise to delight customers so that they become your brand ambassadors. If they like your business, they’ll refer you to others. This increases the profitability of your business from 25% to an astounding 95%. Continue reading to discover how to recruit and retain customers for your business.
Provide A Seamless Customer Experience
Customer retention efforts start immediately after a potential customer interacts with your brand. Provide a positive customer journey from the presales session through the purchasing process is crucial to retain customers. Then beyond the transaction, provide quality customer service. Customers with a good experience with your business are likely to continue purchasing from you.
Implement A Customer Loyalty Program
Another great way to retain customers is by organizing customer loyalty programs. These programs reward customers who interact with a brand repeatedly. Loyalty programs can encourage frequent purchases and discourage customers from switching brands. There are many customer loyalty programs. You can reward returning customers with VIP perks. You can also offer loyal customers discounts or allow them to shop for new products or deals before the general public.
Seek Customer Feedback to Retain Customers
Furthermore, you can retain customers by seeking feedback and knowing their concerns. Seeking customer feedback is important to understanding customers’ needs, preferences, and satisfaction levels. It’s also an amazing way to make your customers feel heard. Using customer surveys to obtain customer feedback can show customer appreciation and increase customer engagement with your business.
Make Changes
Another tip on how to recruit and retain customers for your business is to make changes based on what you learn. Use the data you obtain from your research to adjust your business strategy and offerings. Responding to customer input shows appreciation for their feedback, which can improve their overall customer experience and retention.
Look For Ongoing Relationship Opportunities
Find opportunities to provide value to your potential customers. If you are selling mechanical tools, offer a service program or a free annual check-up on all purchases. Turning a one-time transaction into an ongoing service-based relationship will help you increase customer retention and ensure you remain a vendor of choice.
Plan Strategic Outreach to Retain Customers
Staying top of mind does not mean bombarding your customers with promotional emails. Instead, plan an outreach around strategic events and sales, and factor in your customers’ journeys, like peak buying seasons or changes in market conditions. Stay in touch with your customers through social media or email marketing. You can create an email newsletter to entertain and inform subscribers and increase brand awareness.
Asides from promotion, consider marketing campaigns that provide entertainment and educational value to customers. For example, if you run a party decorations shop, offer an opt-in email series with party-planning tips, recipes, games, etc. Providing value will retain customers by encouraging repeat purchases and reminding your existing customer base and new customers what you offer.
Retain Customers by Making It Personal
70% of purchasing experiences are based on how customers feel they are being treated. Building a personal connection can help you retain customers after recruiting them. You can send a business anniversary or birthday postcard, or even make quarterly or annual calls to high-value customers to thank them for their patronage, check in on their level of satisfaction, and inquire about their current or upcoming needs.
Make The Most Of Social Media
Increase your connections, communities, and customer engagement by hosting in-person events, digital panels, seminars, or forums. You can likewise encourage your customers to stay connected with your brand on social media.
Solve Problems
When customers have issues, make sure they can speak with a real, sympathetic person, ideally in person or by phone. Even in our digital world, people prefer to communicate with other people. This desire is so strong that 75% of people believe it takes longer to reach a live agent on the phone or an online chat. Referring frustrated customers to a FAQ (Frequently asked questions) page or an email contact form will likely worsen the situation. Thus, empower your employees to fix issues when they arise.
Be Grateful
Send personal thank-you presents like seasonal gift baskets or branded products that customers can display in their homes. Even something as simple as a refrigerator magnet can keep your brand top of mind, and your contact information readily reachable.
Parting Words
71% of customers end their relationship with a business due to poor customer service. It’s not easy to lose a customer, but if the result is unavoidable, always end the relationship on a good note. Remember, how you handle a customer’s departure will determine whether they’ll give you another chance or disappear and leave you with a bad review. Never underestimate the value of customer retention. Maintaining a positive brand experience to retain customers for your business is crucial for a greater ROI (Return on Investment).
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