Skip to main content

How to Ensure Customer Retention - Useful Tips and Tricks?


Customer retention is crucial for every business. Almost every business that uses a customer lifecycle platform wants to ensure that customers keep coming back to buy products. It has been found that selling to an existing customer is 6-7 times cheaper than selling to a new customer. Not only this, with an increase of just 5% in customer retention, brands can increase their revenue by 5% to 20%! So, here are some useful tips on how to ensure customer retention. 

#1 Customer satisfaction 

If a customer is happy with your brand, they will surely want to come back for more. This is why brands need to focus on providing a seamless omnichannel marketing experience to the customers where they feel truly connected with the brand. Initiating human-like conversations with your customers is another way to win their trust and build a strong relationship. 

#2 Welcome feedback 

If you want to improve your product/services, you need to learn from the customers. Once you have an idea of what makes them like your brand, what keeps them coming, and what makes them want to go away, you can reduce the churn and increase the customer retention rate. There are different ways to get customer feedback:

1. Surveys 

2. Social media 

3. Emails 

4. Website review 

#3 Ensure personalization 

Do you know that almost 80% of the customers want to purchase from a brand that offers personalization? Personalization can be achieved by customer segmentation. Some common customer segmentation examples are - loyal or VIP customers, dividing customers based on demographics, shopping behavior, or preferences. 

#4 Loyalty programs 

Another way to retain customers is to engage them with a loyalty program. You must learn what kind of rewards are preferred by your customers. For instance, some customers might prefer reward points while some might be looking for gift cards and vouchers. Not only this, but you can also use referral programs to acquire and retain customers. 

#5 Additional value 

Last, but not least, you must keep working to provide value to your customers. For instance, write informative blogs that would bring your customers to your website. You must ask them to sign up for a newsletter so that you can share every new thing about your brand with them. 

So, what did we learn? Customers can be attracted and retained in many ways. Start building relationships with your customers and keep learning from their feedback. Personalize their shopping experience as much as you can and keep bringing something valuable to the table. 

Labels:

Comments

Post a Comment

Popular posts from this blog

Significance of Omnichannel Strategy And Customer Segmentation In 2022

The retail industry is in a state of unpredictable. The pandemic has forced businesses to change the way they operate, and many are still struggling to keep up. In order to succeed in this new landscape, retailers need to start thinking about their omnichannel strategy and customer segmentation. In this write-up ahead, we will explore the significance of both omnichannel strategy and customer segmentation in the retail industry. You will also get some tips on how businesses can imply these changes in order to stay ahead of the curve.  What is Omnichannel Strategy? In order to create an omnichannel strategy, businesses need to have a clear understanding of their target customer segments and their needs. They also need to ensure that their customer segmentations are up-to-date and relevant. Once they have a good understanding of their customers, businesses can start to develop an omnichannel strategy. This should be based on the customer segments that they have identified and the needs
Post a Comment
Read more

Omnichannel Marketing in a Nutshell

The right marketing strategy can make or break a business. It is the only way customers can know more about your product and services, build trust with your brand and form lifelong relationships. Today, retailers are finding marketing strategies that focus on customers and can create a seamless marketing experience. Omnichannel marketing serves as one such marketing strategy. What is Omnichannel strategy? As we know that there are multiple marketing channels available these days like social media, email, blog, live chat, phone, brick and mortar stores, etc. A customer might choose any channel to interact with a business. An Omnichannel marketing strategy aims to provide an integrated shopping experience to customers through every marketing channel. Omnichannel marketing example Suppose a customer sees a Facebook ad about a t-shirt and they visit the business website. They then add the product (t-shirt) to their shopping cart but they leave the website before making a purchase.
Post a Comment
Read more

How to Touch Reach Point of Customers by Omnichannel Marketing?

In today's interconnected world, reaching customers through various channels is essential for a successful marketing strategy. However, simply being present on multiple channels is not enough. To truly engage customers and provide a seamless experience, businesses need to adopt an omnichannel marketing approach. Omnichannel marketing focuses on creating a consistent and integrated customer experience across all touchpoints, both online and offline.  In this blog post, we will explore key strategies to touch every point of customers by implementing an effective omni tech retail strategy. Understand Your Customers' Journey : To effectively reach customers at every touchpoint, it's crucial to understand their journey. Map out the various stages and touchpoints that customers encounter when interacting with your brand. This includes social media, websites, physical stores, customer service, email, and more. By gaining insights into their preferences and behaviors, you can tailo
Post a Comment
Read more