6 Strategies to Help Improve Customer Retention

6 Strategies to Help Improve Customer Retention

In simpler words, customer retention is defined as the method of making one-time buyers become recurring customers. Customer retaining methods and objectives vary greatly by the industry. For instance, a company that offers high-speed internet service plans such as Cox internet essential package will employ customer retention strategies that would essentially different from the ones used by an e-commerce store.

However, the main target behind all customer retention strategies used by companies of any business sector is to provide high-quality services and products. This in turn would make their customer come back every time.

If you are a business looking for strategies that can help you improve your customer retention and loyalty, these tips could be of interest to you.

1. Introduce Rewards & Loyalty Programs

Introducing rewards and loyalty programs are an excellent strategy to boost customer retention. These techniques provide your customers with incentives to consider shopping with you again. The customers who decide to become a part of your loyalty program should feel that you care about them.

Businesses can use this chance to introduce some exclusive rewards, discounts, or deals. You can also show them a preview of your upcoming products allowing them to place pre-orders with special offers.

There are various ways of offering loyalty rewards apart from the ones mentioned above. For example, offering customers some coupons, scratch card gifts, or redeemable points can also prove to be a good strategy for customer retention.

2. Build a Better Thank You Page

Many businesses only use their ‘thank you’ page to inform customers about the summary of their orders, shipping details, and thanking them for choosing their products or services. This presents the ‘thank you’ page as only an exit door and shows the end of a transaction. This page can be made meaningful and engaging for customers using the following two techniques.

1.      Foot in the door

Once the customer is done making a purchase, you can use the opportunity to request that they may share their purchase satisfaction via social media platforms. You can also request the customers to subscribe for updates on future sales of products, or services, etc.

2.      Choice-supportive Bias

Businesses can also use the ‘thank you’ page to display their customers’ testimonials showing their satisfaction with purchased products or services. Some successful businesses use this opportunity to show a video of product features and how to use it.

This allows your customer to feel that you care for them. 

3. Establish Excellent Customer Support Service

In modern era, artificial intelligence (AI) is driving revolutions in every industry. Businesses are now using AI to automate their customer support service. However, many businesses still use traditional human customer service for the fear of losing 'a personal touch’. While that is a valid concern, the tech-savvy generation often prefers to use AI when taking care of a problem. Why? Simply because AI is faster, accurate, and is programmed to resolve most technical issues without the need for human intervention.

Chatbots are the latest hype when it comes to providing the best customer support nowadays. A chatbot act as a self-service mini-robot that can solve most issues in a matter of minutes. Using this tech, businesses can automate their customer support while keeping a few people as back up for instances where a chatbot can’t help.

4. Introduce a Mobile App

Many successful businesses use a mobile app to expand their customer base. It works because a vast majority of people practically live on their smartphones. From groceries to clothes, to food and so on, people use mobile devices to buy everything. I even connect with my Cox Customer Service via their app which is extremely convenient! Therefore, introducing a user-friendly mobile app for your customers will definitely help your business with customer retention. 

5. Set Expectations That are Realistic

Since your the goal is customer retention, telling customers upfront about what they should expect from your business is very important. Customers like to be presented with facts instead of vague information. For instance, if a customer is to book an order with your company, they would like to know the exact details about when and how they would get their delivery. You can use emails to communicate the delivery details and letting customers know that their order has been received, processed, or shipped, etc.

6. Follow Up with Customers

The last customer retention tip on this list is that you should always remember to follow up. If a customer only hears from you once in a blue moon, they will surely forget about you. Using customer service platforms to follow up with consumers is one way. Another way of following up with customers is by ensuring you create distribution lists. These lists include emails and phone numbers of your customer and can be used to send your customers information about seasonal sales, promotions, deals, and order information, etc.

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