Any business owner knows that it is much cheaper to make current customers come back than find new ones, that is why building an effective strategy for increasing retention rate is important to keep the whole thing going. A good strategy will help you get more value and profit from the current client base and also provide great customer experience from using your products. If in college you could ask someone «Can you do my statistics homework for me? », now it`s time to care for statistics on your own and focus on your customers’ engagement as the lifeblood of any business.
Key ways to increase customer retention
While many businesses are concentrated on attracting new customers, strengthening relationships with existing ones is equally if not more important. Loyal customers are not only buying more but also recommending your company to others so taking them for granted is a huge mistake. If you have little idea on how to get customers to come back, check the following tips that do work:
- Stay in touch. When the sale is done, stay in touch with the customers to build the relationship: be active in social media, send newsletters, arrange giveaways, etc. Just assume that they might not remember you and your brand because if a customer bought from you once, it doesn`t mean you are the only one they will buy from. Remember about yourself with useful guides and recommendations but make sure it is not spam as your main goal is to establish the connection and not to leave a customer irritated;
- Test your email newsletters continuously. In addition to data you already have (contact information, preferences, and purchases) you need to provide your customers with relevant content about your product. Do you remember college times when you had many writing assignments and were puzzled with the question «Can I pay someone to do my homework?»? Now you actually can as you don`t have to work on the recommendations for your campaigns yourself, it`s enough to hire experienced copywriters or try using a writing service. For example, reading such articles as speedypaper review might help choose an executor;
- Provide time-limited offers. In addition to establishing a loyalty system, create banners featuring products that have to be purchased within a preset timeframe. Everybody likes discounts, so it is a good way to direct customers` attention to your company again. A discount is almost always equal to another purchase;
- Listen to feedback. Getting feedback is important as you can change your strategy accordingly. Customer support can help you clearly communicate with your customers, deal with their requests and gather this priceless feedback. Having a live chat or social media accounts can also easily turn a customer`s question into a sale and an effectively solved problem can transform an angry customer into a happy one;
- Surprise clients. Going beyond customers` expectations is always welcome and brings positive results like telling others about their pleasant experience and thus driving more sales. A surprise may be a special offering, a small gift on their birthday, loyalty discount or just remembering their name in a conversation which is a small but pleasant thing.
Returning customers is a key to your success so make sure you listen to them and make them happy. Did you know that nearly a third of online spent money comes from this type of customer? So it`s high time to update your current strategies, increase loyalty and trust to ensure the increase of retention rate to effectively run your business.