In today’s digital age, it is not easy to stay competitive all the time. Businesses constantly bombard consumers to use towards their products or services instead of their competitors. It is for this reason developing customer loyalty is stated to be of paramount importance. It is necessary to retain existing customers. Having a solid customer base is sure to promote the business manifolds. But then, shoppers have become much smarter these days and are more interested in quality and price. Hence, you will require implementing proper retention strategies to ensure they do not shift to your competitor.
Top 8 Customer Retention Strategies to implement
Strategies to retain customers are best created around business insights and goals. Your customers should find your service reliable and consistent while being aware of your brand existence. Develop better personal relationship with existing customers.
1. Offer excellent customer service:
Perhaps, what the company considers as excellent customer service might not match with what is assumed by the customer. 75% organizations assume that they are customer-centric. However, only customers 30% believe it this way. Hence route appropriate agents to correct customers. For this evaluate customer needs. Accordingly assign the most skilled agent to cater to the customer. It does help boost Brand Image.
2. Discounts and Surprise Gifts:
Everyone loves to be appreciated. Offering discounts and surprise gifts can ensures customers are rewarded for their loyalty towards your business. Offer discounts on those products that they purchase frequently. It should be accompanied with a small, sweet message informing them of the surprise and the reason for it. Loyalty Programs should also be introduced for old customers.
3. Be active within your community:
Increasingly customers are getting socially conscious. Even businesses should adopt it. They check out whether you are involved in charity, community improvement schemes, etc. They also would like to know your partners and with whom you like to engage.
4. Customer Surveys:
Customers should be offered short online surveys that they can complete quickly. It will provide them a better insight of what is working and not. Surveys do help to identify missed out patterns. Good surveys are to have free text answer fields mixed with multiple choice questions. It enhances Brand Image.
5. Keeps customers informed:
Customers should be involved and made part of the team. They should be constantly updated on all new developments made like new partnerships, product lines or milestones achieved. Monthly newsletter can be sent to them over email.
This can be a fun-filled way to reward customer loyalty. It is a proven strategy. Customers can be offered discounts for referrals or redeemable points for every purchase made. Visual appreciation boost will also do a lot of good like a badge.
7. Customer Onboarding:
This is likely to vary based on the company’s niche. The objective here is to educate all customers concerning your brand and products. On purchase of a product, the customer can be sent an email containing short tutorial on ‘how to use’. It should also include customer service team’s details enabling them to know where and whom to contact to sort out issues quickly.
8. Be personal:
Customer data is vital and almost every organization collects it to enhance their experience. Understand how customers would prefer to be contacted, their earlier purchase and interactions. Providing personalized experience and Loyalty Programs will help them to feel like being part of the team.
Using the above mentioned Customer Retention Strategies will ensure your customer is taken proper care of. Also, you can be sure that your loyal customer does not switch on to your competitor’s programs.