3 Ways to Increase Residual Customer Loyalty
One of the main reasons why mobile text marketing is so successful for businesses is the simple fact that text messaging is inexpensive compared to other forms of digital signage. Therefore, businesses can easily add up to a thousands of dollars in savings without breaking the bank. However, just blasting out mass SMS to all possible contacts in the vicinity of the business is not enough to increase retention in clients. Only 60% of customers wants to personally respond back to promotional texts they get, while only 14% allows consumers to actually respond back to promotional messages they get. This means that a company only gains the advantage of its word of mouth advertising if it provides value to its customers. Here are some ways how you can provide value to your customer and increase retention rates:
Provide honest feedback on customers service. Studies have shown that giving honest feedback to clients on the service that they received will increase retention rates by two times as much. Keep in mind that one of the first reasons why customers tend not to return to a store is because they didn’t like the first time they dealt with the staff members handling their transactions. To encourage returning customers, make sure that you provide them with prompt, professional, and efficient service. The key is to provide honest feedback on every transaction your clients make. If you want your clients to keep coming back, you need to show them that they are not the only ones getting bad service; that there are other people out there who can benefit from your services as well.
Give your clients an expectation list. Giving your clients an expectation list is similar to what you do when you give your clients a brochure or flyer about the services that you offer. But instead of printing these pieces of information in the traditional way, which would require additional costs, you print them online. This way, you provide your clients with an expectation list that they can use as a tool to help them make informed decisions about the type of services that they want you to provide. This is one of the best ways to increase retention since you’re already telling your clients what you can do for them, but you’re also allowing them to make a decision based on their own preferences.
Be consistent with who you promote and who you market to. If you want to increase retention, you need to spend some time communicating with your current customers and with potential new clients about your social responsibility efforts and your commitment to providing honest service to all customers. You can also tell your current client base about these updates so that they will be aware whenever you change anything regarding the way you work with customers.
Utilize customer relationship management (CRM) strategies to increase retention rates. Most businesses don’t have the budget to implement comprehensive CRM software solutions, but there are several CRM software programs that can help you with managing the different aspects of customer retention. Many businesses choose to implement at least some of the basic CRM software solutions because they tend to be quite inexpensive and they usually provide a good return on investment.
Set up a feedback system for your customers. The idea here is to provide useful information for your customers that helps them to feel like you value their opinion. This is a great way to improve customer retention because it shows them that you are concerned about what they are saying about your product or service. In addition to providing information, you should ask your customers to provide feedback in a quick, easy, and anonymous fashion. Most businesses use customer satisfaction surveys to determine which customer retention strategies are working and which need to be adjusted. Surveys can provide you with great insight into what people really want from your company.
Provide excellent customer support and service. Asking your customers for their opinion on your products and services is a great way to get them involved in your business. When they are happy or unhappy with your product or service, they are more likely to share their opinion with others in order to spread the word. In turn, when other customers are happy with your products or services and are willing to recommend them to others, this can help you to increase customer loyalty. A strong customer base is essential in any type of business and it is especially vital in a competitive marketplace.
Make sure that you provide value. Your customers will be much more likely to refer your products or services to others if they know that they are getting value for their money. One of the best ways to provide value is to offer them options within the program. For example, if a customer is unhappy with one aspect of your customer service, they might be willing to change to a different store. In addition to offering value, you should also provide opportunities for your customers to get in touch with you if they have any additional questions or concerns. This is a great way to retain existing customers and build brand loyalty.