Customers are important intangible business assets. They should be valued and well treated. Retaining customers is as important as acquiring new ones. When a business keeps its customers, it improves its revenue and reduces competition as buyers don’t migrate to a rival brand. These 10 critical tips about retaining customers will help businesses build a lasting relationship with their buyers.
1. Have a Smooth Onboarding Process
It is vital to give new customers an excellent first experience. Buyers are likely to return to a company or brand if treated nicely for the first time. This can be achieved by implementing policies to ensure customers have a seamless experience.
2. Customize Customers’ Feedback
Many businesses and E-commerce platforms receive feedback from their customers. Buyers can either give verbal feedback in a physical store or submit their feedback electronically. Moreover, customers’ feedback can be gathered through surveys that help them share their honest feelings about the services and goods offered. Notably, customizing a thank you message after the survey is vital in retaining the buyers.
3. Create Retention Programs
By creating customer loyalty programs, a business will likely retain most of its customers. This program can be in the form of enticing gifts to the buyers. Rewarding the buyers encourages them to purchase frequently. Customers can also be awarded loyalty points redeemable in exchange for free goods or services.
4. Appreciate the Returning Customers
It is important to show gratitude to all your returning customers. This will encourage them to be regular shoppers. You can show your appreciation by offering free products and services or discounts to any returning buyers.
However, you should also invest in the right technology and a proper customer management system. For example, If you are running an OPE dealership, having the proper outdoor power equipment software can help run your business more efficiently, thus providing the best experience for your customers.
5. Stay In Touch
Keeping in touch with your new or existing customers is a great strategy to ensure you retain them. Many businesses use Short Message Service (SMS) or Email to engage with their customers. Reminding your customers of exciting offers available to them can influence their decisions to continue using your goods and services. Additionally, sending your customers goodwill messages during important moments, such as birthdays, can increase retention.
6. Reward Your Employees
If your workers are not happy, it is unlikely that they will make the customers happy. Thus, creating the employees’ loyalty program is recommended. Appreciate your workers and make them feel part of the brand. Besides, equip your workers effectively. They will execute their duties without excuses.
7. Promptly Address Any Issues
Customers can get frustrated if their issues are not addressed promptly. Assume a customer buys a lawnmower and it malfunctions when on duty. Such purchaser may decide to reach the seller for assistance. If you keep them waiting for hours or days before giving feedback or assistance, such customers will get agitated and probably seek alternative help.
8. Use Social Media
Currently, many businesses are using social media as a marketing tool and as a platform to offer real-time engagements with their customers. Similarly, a business can embrace social media to help increase the customer retention rate. For example, you can thank a loyal buyer publicly by posting a message on common social media platforms. Furthermore, interact and engage with your social media users in conversations about your brand.
9. Build Trust
Research published in Harvard Business Review confirms that trust is an important tool to build a strong relationship between customers and the brand. Buyers must trust your business to form a habit of purchasing from you regularly. You can build trust by ensuring customers always gets what they order. Exceeding expectations will also help. If buyers trust your business, they won’t be afraid to pay in advance.
10. Embrace Good Values
Having good values is also vital for customer retention. Your business must embrace the best values that promote equality, human rights, and any good thing for humanity. It is unlikely for your business to retain any customers if you disrespect people based on their ethnicity. For example, using renewable energy can help retain your shoppers by engaging in environmental conservation.
With the above strategies, your business will likely retain a good percentage of the existing and new buyers. More importantly, happy customers may also recommend your brand to friends and relatives.