Increase Your Customer Retention Rate
It’s human nature to want something you don’t have. That’s why there’s something very exciting about acquiring new customers. For this reason, some companies spend most of their time and energy on the hunt for brand new customers, when they should be spending just as much of it on retaining the ones they already have.
What if we told you that a returning customer is actually more beneficial than gaining a new one? Why? Because returning customers are loyal ones, and a loyal customer is a committed customer. If they’ve decided they like your brand, then the chances are they’re going to keep coming back. BUT! This does of course require some effort on your part. Don’t worry though, we’ve done the hard part for you. We’ve gathered six retention strategies that will keep your customers engaged and happy.
Use customer service tools for Customer Retention
One foolproof method for keeping your existing customers satisfied is by providing top-tier customer service. This can be a difficult task when you have so many customers though… Enter customer service tools.
Software such as a good CRM will take the stress out of it. You can record customer interactions and create support tickets, these will reside in one unified hub so that every rep has access to it and keep Customer Retention high.
Inspire customer loyalty with a mission
Give your customers a reason to stay loyal to you by introducing a mission statement. You can inspire commitment from them through what they stand for. Now, more than ever, people are choosing brands with a message that aligns with their own beliefs. Whether it’s a devotion to planting trees, investing in young people, or improving workplace diversity, having an ultimate purpose for what you do will give your customers a reason to stand by you.
Keep them keen on convenience
A major reason people opt to stick by a company is due to ease of use or convenience. A prime example of this is when an online retailer provides the option to “save payment details”. Never again do you have to scramble for your debit card every time you want to make a purchase, and it’s simple conveniences such as this that keep customers going back to the same shop.
Get personal with them
Create relationships with your customers by leveraging personalisation. A great way to do this is by utilising social media platforms and interacting with your customers in an authentic, human manner. For example, you could set up a company Twitter page where customers can tag you in posts, and receive personable responses from members of your team.
Spark a rivalry between you and your competitors
There’s a reason why sports teams inspire mass followings from so many committed fans… even when the team isn’t a very good one. People love rivalry. Spark a divide between yourself and your competitors, using a bit of tongue and cheek of course, and your customers might just become your biggest brand advocates.
Start a subscription service
This strategy is all about making your customers feel like they’re members of a VIP club. Offer them incentives for signing up, such as discounts or access to services that regular customers don’t have.
The aim of the game for retaining customers is to give them a reason to choose you instead of taking their custom elsewhere. We hope you find these six strategies useful, good luck!