Increasing retention begins with a commitment to ongoing customer service and providing value to the returning customer. It includes developing a marketing plan that is focused on increasing customer retention. The best marketing plans will take into account both internal operations and external competition. The following tips will help you deliver a true marketing plan that increases retention:
Focus on your customers. In addition to offering quality products and services, you must develop an emotional connection with the customers. This means having a strong commitment to creating a positive experience for customers, providing them with honest feedback, and exceeding their expectations. If you focus too much on meeting the customer service requirements of a new customer you may lose their loyalty to your company. On the other hand, if you focus too much on increasing profitability you may lose your customers to a competitor with lower service standards and greater flexibility.
Focus on customer satisfaction. Many companies incorrectly assume that increased profitability is the primary driver of customer retention. In truth, satisfaction is a much more important driver. When you offer your customers value, they will be much more likely to return to your store. Furthermore, when they do return they are far more likely to purchase from you again.
Include social media in your marketing strategy. Social media have exploded over the last few years and a recent survey showed that more than half of the surveyed consumers considered social media to be an effective tool in building customer loyalty. When you include social media in your overall marketing strategy, you will increase retention because you will be seen as a socially responsible company. Additionally, customers who have a strong social presence with their brand are more likely to share positive experiences with their friends and coworkers, which will increase your brand’s reputation and visibility.
Offer customer loyalty programs and rewards. Loyalty programs such as discounts, freebies, and even contests can boost retention rates. These programs often come in the form of discounts, freebies, or contests. Additionally, offering customers free products or services will instill trust and credibility with your customers.
Take advantage of customer service tools. Customer service tools such as customer service apps and automated email systems can help you respond to questions quickly and efficiently. Furthermore, these tools encourage your customers to give you feedback, which has been shown to increase retention. When consumers know that you value their opinion, they are more likely to provide feedback.
Use onboarding to increase retention. The onboarding process of an app or portal can provide users with valuable content, push notifications, and access to special offers. When onboarding an app, make sure that all of these elements are available in the initial set up of the app.
Implement customer loyalty programs and rewards to increase retention. These strategies work well for established brands that have strong customer retention marketing programs. For start-ups, look for opportunities to offer free gifts to first-time customers, or to give them free trial memberships. Offering loyalty discounts and rewards can increase loyalty among your first-time customers and bring new ones into your fold.
Create a marketing strategy around customer loyalty. This marketing strategy can be used to encourage customers to engage with your brand. A good marketing strategy should include the creation of a collection of transactional emails that can be sent to your customers following their purchase. Include links to special offers, email templates, and other useful information that will remind your customers to engage with your brand.
Make sure that you are offering real value. If customers feel that they are getting something for nothing, they are likely to stop engaging with your brand. Make sure that the value that you offer is worth the cost of sending out the emails. Ask yourself what it would cost you to send one high-value customer retention strategy and another low-value one.
Build a customer service program to engage with your customers. With the advent of customer service apps, businesses can now take advantage of advanced tools to engage with their customers on a more personal level. Some of these services are particularly helpful when it comes to managing engagement. Look for an app that allows you to collect detailed information about your customers and offers tools to help you design and track your engagement strategy. This data can then be used to create new products and campaigns as well as helping you prioritize and improve your customer service.
Use analytics to learn more about your customers. Analytics is a great way to gather information about your customers in order to provide insight into how your brand is perceived and to understand who is engaging with your product or service. For example, some metrics from analytics can tell you that content on your app is most popular and which customers find it most helpful. Using analytics is a great way to ensure that the content you’re providing your customers is of high value to them and to ensure that you’re providing a service that they will enjoy using.