How to Improve Customer Retention?
As a business dealing with a multitude of competitors and wishy-washy customers with their fickle preferences, it’s no wonder your primary desire is to attract more customers to try your brand’s offers. To an extent, this is perfectly acceptable and it will be a valuable strategy to help you grow your business and increase your profits down the line. But only to an extent. Why? Because we’re creatures of habit, we get attached to things as well as experiences, and we like to purchase something that speaks volumes of our own values.
We like to purchase the same sneakers that never failed to keep us comfortable during a workout, the same coffee that reminds us of those special moments with our loved ones, the same clothes that are in line with our sustainability efforts.
That is why your business heavily depends on return customers, on loyal people who keep coming back for the same experience you promised (and hopefully delivered) previously.
And yes, the price of attracting new customers is five times higher than that of retaining an old one, which is also a huge motivator for investing in retention. Here are a few tips to help you keep your customers around effectively.
Perfect Your Customer Service Across the Board
Communication is the key to any successful relationship. Since you’re focusing on building commitment, this is precisely the ingredient you need for your customers to feel connected to your brand, appreciated, and inclined to stay loyal. Most brands consider their phones and those live chat agents their greatest assets when it comes to customer service, but you should expand that notion to embrace your social networks, your feedback strategy, and your proactive program to reach out to return customers.
- Make sure that your social channels are governed by the same principles as your entire brand, so as to ensure voice consistency in communication. Give your finest social media managers the ability to interact with your customers regularly and to be helpful at all times. That means timely responses and a guideline book to help them resolve any customer issues.
- Create a consistent strategy to ask for customer feedback via different channels.
- Be proactive through email, social media, and during events in order to inspire customers to come back – customize and personalize that approach for the best results.
Make Your Customers Feel Special
How often can you meet with your customers in person, and how many of them prefer to shop in your brick-and-mortar stores if you still have them?
Chances are that you mostly interact through digital channels, and that fact alone makes some of that intimate, personal communication out of the equation.
As in any long-term relationship, a refreshing gift can serve as the perfect means to deepen the connection, show your love, and make the other person feel valued and understood.
If your customers, for example, lead busy professional lives and they love that morning coffee ritual, then sending them personalized mugs as an unexpected gift with their order will not only make their day but inspire them to come back for more.
Even more so, they’ll tell their friends about your gesture, they’ll brag about the lovely present they’ve received, and they’ll be your brand ambassadors every time they use their mug in front of their guests or post an image of it on social media.
Ask for Feedback and Act on it
We’ve already mentioned that feedback is a key piece of the customer satisfaction puzzle, which, in turn, greatly affects your retention rate.
What too many brands fail to do when it comes to their feedback collection is to actually use the data to their advantage. Your customers will likely share incredibly insightful comments, not just on your brand’s service or product, but the way you deliver it, how you communicate, and the issues they may have encountered.
By giving you this information, they allow you a glimpse into their invaluable perspective. Take the next necessary step and actually find ways to implement their suggestions when you can. That will be the perfect way to show that your customers are the ones that take part in the creation of your brand, and letting them know will be just another way to incentivize repeat business through loyalty.
Focus on Content That Inspires Engagement
What you sell is only a fraction of what your brand represents to your customers. In order for your business to stay present in the lives of your customers, they need greater reasons to come back to your social profiles, to your website, and to your newsletter. They need content that provides valuable information, advice, and suggestions to improve their lives.
Make sure that your content strategy is not only tailored to your SEO needs and to fill your website with content that puts you on the map.
Instead, focus on delivering the kind of content that will actually inspire your customers to come back and read your blogs, watch your tutorials, and share those Instagram photos when they’re done shopping. Continuous engagement through brilliant content is a vital element of retention your brand needs to keep in mind.
Customer retention is more than just a strategy.
It’s the key ingredient in business growth for any business out there, and your lifeline in this oversaturated market filled with eager competition. Use these tips to ensure customer retention, and both acquisition and retention will soar as a result.