Retaining customers is the lifeline of every company, and there are many successful companies who took it as a priority to keep their customers says Saivian. But sometimes we can see companies do whatever they can just to attract new customers such as offering discounts or giving out freebies that make us think how much more should we invest in retaining the existing ones? Well, this article will give you six different tips on how to retain your loyal customers and make them come back for more.
1) Personalized Service:
According to The University of Cincinnati study, personalized service played an important role in customer satisfaction and loyalty. Many other studies say making personalization is one of the best ways to retain customers since it’s not what you say but how you make your customers feel. The moment you make your customers feel important enough to make them think that they are valued is the time that you will have their support forever explains Saivian. There are many ways to personalize your service; here are some of the great examples:
- Make sure your customer care service is 24/7 online
- Offer faster services at no extra cost
- Be friendly even on the phone or through email, so never underestimate how powerful it can be when done correctly.
2) Customer Feedback:
According to Larry Selden and Harry Beckwith, companies need to understand what their customers want by asking for feedback. Not only does this increase loyalty but also saves money from putting out products that no one is going to buy.
3) Reward Your Customers with Loyalty Program:
According to a study by the University of Michigan in Ann Arbor, customers will try a new product from a company if there’s a rewarding camping up for their loyalty. But offering rewards isn’t only about money but also customers love being appreciated so it’s important to be genuine at all times when saying thank you says Saivian.
4) Join Social Media Platforms:
Social media platforms are considered free advertising. Since it helps companies build strong relationships with their existing customers and potential ones as well. It helps companies differentiate from others. They can easily share information about the latest offers or services they offer without having any cost. According to recent studies, there are more than 2 billion social media users around the world which means targeting half of them is extremely easy given that they already have a big pool of people who you can easily market your products and services and in return build strong relationships.
5) Customer Retention Starts with Employee Retention:
Saivian says happy employees will always be on their toes when it comes to doing their job and this will reflect well not just the way they treat their own customers but also how they treat other people’s customers. It’s important to not just hire people who know the proper etiquette when it comes to serving others. Giving out discounts or freebies, etc. Encourage them to give 100% percent each time since satisfied employees would make satisfied customers.
6) Using Technology to Increase Customer Retention:
According to research, almost 40% of companies who invested in CRM (customer relationship management) gained 10 times more than those who didn’t use it. It’s important for companies not just to know how many loyal customers they have. Know also the reason why they are staying. Knowing this will help them understand what can be improved to keep their customers coming back for more.
According to Larry Selden and Harry Beckwith, companies need to understand what their customers want by asking for feedback. Not only does this increase loyalty. It also saves money from putting out products that no one is going to buy.
Conclusion:
The thing about customer retention is that it can be very time-consuming and at times a bit too frustrating. Especially when profits are on the line. But if you follow these tips, you will surely see more customers happy with your company. Which in return keeps them coming back for more.
It’s no surprise losing a customer is bad for business. There are some steps that may help retain customers who typically aren’t happy. The first thing to do is try to make it right. Even if the customer wasn’t at fault, having the appreciaet will go a long way. If things can’t fix, offer your customers an incentive for staying with you. Sometimes free products or services are enough to keep some customers around. Try sending out surveys or asking questions on social media sites that ask why they aren’t satisfied. That information may help you understand what changes need. In order to retain your current customers and attract new ones as well.