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If you want to build a business that is thriving, one thing’s for sure – you need to convince your customers to come back time and time again.
One of the biggest mistakes that many companies make is focusing on lead generation to bring in new customers, while almost totally neglecting the customers they do have. This is a really bad strategy because numbers studies have found that just under 70 percent of all sales are derived from existing customers. Not only that but it is many times more expensive to attract new customers than it is to resell to existing ones.
With all that in mind, let’s take a look at some of the most effective retention strategies your business can use to keep your customers coming back.
Offer them rewards
One of the most effective strategies when it comes to customer retention is obviously rewarding your customers for their loyalty. Enabling them to earn rewards for every purchase so they can get the occasional freebie is very popular, and if you take a look at these Rewards Network Reviews, you will see that it is also something that’s pretty easy to implement. Worried about the cost? Remember that generating new leads can be many times more expensive than keeping customers, and you will soon see how a small discount can be the most cost-effective strategy of all.
Give them a surprise
Another great way of retaining your existing customers is to give them a surprise. This can be as simple as throwing a candy bar in the box with their order or sending them a free gift code on their birthday, but it will make them feel special; make them feel like they are getting something extra out of shopping with you, and theta is often enough to keep them coming back for more.
Always deliver
If you say they’ll get their package next day, make sure they do, or if you say they will get through to a customer service agent within 2 minutes, make sure that happens too. If you want to retain customers, you need to set their expectations and at least meet, if not exceed them, a failure to do so will make them wonder how much you actually value them, and they could be tempted to go elsewhere. So, be clear about what you can offer, don’t make any promises you can’t deliver, and do whatever it takes to deliver on the promises you do make.
Be more ethical
Ethical businesses are more popular and can often demand a higher price tag than companies that are not too concerned with their conduct. That’s why, if you want to retain as many customers as possible, you should think about the kinds of values your target demographic value the most, and see what you can do to implement changes that reflect those values in your business., This may take a while, but it will be worth it when you build customer loyalty like never before.
These strategies may be simple, but when it comes to customer retention, they really do work!
