1. Offer Discounts | 2. Customer Account Creation | 3. Email Marketing | 4. Personalize your Messages |
5. Stellar Customer Service | 6. Establish a Loyalty Program | 7. Stay in Touch | 8. Solve Problems Quickly
Many brands place a heavy emphasis on customer acquisition in order to increase their sales numbers. But, customer retention is something just as important.
Let’s take a look at everything you need to know about reliable customer retention strategies you can take advantage of.
1. Offer Discounts
One of the most efficient customer retention strategies that you can implement to increase the number of customers who make multiple purchases from your brand is offering discounts.
Many people who make one-time purchases tend to do so because of the price of the product or service. As such, promotional offers may be all that you need in order to have them consider making an additional transaction.
Additionally, you could even offer something free as an added bonus to any order that your customers make.
2. Customer Account Creation
If you can save someone time, you’re providing a major selling point for your brand. Allowing your customers to create an account that stores their shipping information, payment info, etc. will drastically help them make purchases in the future, which makes it a valuable customer retention strategy.
It’s not unlikely for a potential buyer to be deterred for making an additional purchase when they are prompted to input all of their information for a second time.
3. Email Marketing
Although social media can be used to fluidly communicate with your audience, you can’t assume that everyone who buys from your brand is going to follow you on those platforms.
More often than not, your primary form of communication with your customer will be through email, so your customer retention efforts should be directed towards email marketing as well. Fortunately, it’s become commonplace to request an email address in order to confirm order or shipping details once a purchase has been made.
4. Personalize your Messages
Although personalization is a relatively simple customer acquisition and retention strategy, it can have a large impact on the way that your audience perceives your company.
In general, the average consumer is far more likely to interact with a message that is specifically tailored to them. A broad, generic email often won’t get the same type of attention.
You can personalize your messages by mentioning the customer by name or providing them with offers related to their past interactions/purchases. You could also message them on their birthday or account creation anniversary.
Find out more from our Personalize Customer Communications Infographic or:
5. Provide Stellar Customer Service
Having high-quality customer service is one of the greatest investments that you can make into your company and also one of the core customer retention strategies. Amazon, for example, is highly renowned for its fast, reputable customer service program that favors the buyer over the company.
As a business, you’ll simply have to accept the problems will arise at some point in the future. Items may get lost during shipping, services may not work as intended, or your customer may simply want to return their purchase and have their money refunded.
Your customer service should strive to accommodate your audience in any way that it can. People will and innately appreciate this and begin to have far more trust for your brand.
6. Establish a Loyalty Program
Every now and then, it’s important to acknowledge and show appreciation for your long-term customers. As you may expect, a customer loyalty program is a perfect way to go about this.
Most loyalty programs have different tiers, and each is related to the amount of time a customer has interacted with your brand or the total number of purchases they’ve made. The program may also take into consideration the total amount of money a customer has spent.
For instance, a typical loyalty program can allow buyers to receive free gifts, discounts on future purchases, or exclusive access to certain products or services once milestones have been met.
You have plenty of freedom when developing your customer loyalty program— just make sure that it provides noteworthy value to the customer.
7. Stay in Touch
Sometimes, people simply need to be reminded of what your company can offer them.
So, sending an email every now and then should be part of your customer retention strategy and it can significantly improve the number of additional purchases that past customers make. Typically, these emails will include promotional offers for your products or services.
But, they could also simply be a message that acknowledges their inactivity in a friendly way.
Regardless of how you choose to frame the message you send them, provide them with an opportunity to check out what your company currently offers.
8. Solve Problems as Quickly as Possible
As previously mentioned, saving time is a noteworthy attribute of a brand that customers will always appreciate. When it comes to issues that they may encounter, saving time becomes even more important.
This is especially true when the problem involves money, such as an accidental charge on a customer’s credit card or them wanting a refund after order cancellation.
Although your brand may take a bit of a financial hit by accommodating people in this way, you’ll lay the foundation for future sales and drastically increase your company‘s revenue over time.
Proper Customer Retention Strategies Essential
And they should be prioritized just as much as customer acquisition.
With the above information about customer retention strategies in mind, you’ll be well on your way toward optimizing your sales numbers over time.
Want to learn more about how we can help? Feel free to get in touch with us today to see what we can do.
CCM Buyer's Guide
Jump-start your Customer Communication Management ( CCM ) strategy and begin engaging your customers today with this free guide. Retain your customers and drive more revenue!