Research shows that attracting new customers is far more expensive than retaining an existing one. So what does it take for a business to keep its customers loyal while creating opportunities for generating further revenue? There are several factors that should be taken into consideration. For instance; quality of products, innovation, consistency in service experience, understanding customer needs and instant problem resolution. Similarly, offering personalized service to every customer will help build a stronger connection and lead to more retention. Here are a few ideas that will help in effectively retaining more customers:
Building Lasting Relationships and Trust
The business-consumer relationship begins at the touch point when the customer first hears about the business. In order to make sure your customers stay, your business should constantly invest in strengthening relationships with them. Identify customer pain points and create profiles based on buying behavior to connect with them better. Offer them customized solutions that target their specific needs and solve their problems effectively. Personalize their experience by engaging with them in person and on various channels, especially social platforms. A business that is always connected will have more chances of keeping customers loyal.
Invest in Promotions and Loyalty Programs
For existing and new clients, promotional offers and loyalty programs always hold an appeal. Offering such deals is an effective strategy to keep customers coming back. It also brings a sense of exclusivity which encourages purchase behavior in consumers. When designing loyalty programs, keep in mind the needs of the target customer. If you are a SaaS business or service-provider, attract your subscribers/users with limited time offers, reward your loyal customers and hold competitions. Such incentives will motivate clients to stay with your business.
Offer Round the Clock Support
Needless to say, that any business that wants to retain customers and create a positive brand image has to offer extraordinary customer support. This is a key factor for customers to make the decision on whether they want to continue investing in your business or not. Customers today expect a business to always be available to answer queries which is why there is a growing need for round the clock support. No matter what the channel, phone, live chat, email or social media, make sure customers receive instant responses and are not put on hold. Ensure that your business is active and listening to complaints and issues. Train staff to empathize, effectively communicate and solve problems. Proactive and instant support which is available 24/7 with representatives that are always there to help will build loyalty.
Go Beyond Customer Expectations
An important factor that increases customer satisfaction, is to surpass customer expectations, by over delivering and going the extra mile. Companies that work towards always providing high standards of service and over delivering on their promise, keep the customer pleased as well as engaged to do business with them in the future. Never make unrealistic promises to win customers attention in the moment and go on to disappoint him or her later in the customer journey. If a product is meant to reach a customer in one day, then promise a two day delivery, in case there are any errors or unexpected delays. This keeps the customer satisfied and also allows you to provide the best service possible. Similarly, whenever customers receive more than the expectation, it makes them happier. For instance, if you throw in something extra with a purchase, it will be a pleasant surprise for them. Go out of your way to make the service experience worth remembering every time.
To learn more about customer retention, register for our upcoming webinar.