For most businesses, trying to retain customers is a no-brainer. Everyone knows that it is much more expensive, and requires far more effort, to acquire new customers than it is to retain existing ones; it is much easier to encourage customers to buy from you again than to encourage people to part with their money for the first time. Your focus on customer retention, of course, depends entirely on the goods you sell. If you own a coffee shop or clothing store, for example, you will focus more on customer retention than a vehicle trader or appliances. Here are some top tips on how to increase your customer retention!
1. Have a social media login option
If you give the option, most people will check out as a guest – very few people want to fill out the potentially lengthy forms to register. By giving them to option to check out and make a quick account using their Facebook or Google login, they will be more likely to opt for this, which will also give you the chance to run retargeting ads on their social media feed, and therefore more likely to become a return customer.
2. Avoid promising too much
Many businesses, especially when they are first starting out, can sometimes raise customers’ expectations too high. “Make sure you keep in mind that customers only know what you tell them”, says Lauren H. Morgan, retention manager at EliteAssignmentHelp and Paper Fellows. “Promising them the world and then completely under-delivering is a sure-fire way to lose customers. Keep everything as accurate as possible so expectations are aligned with reality”.
3. Customer service is paramount
Having an effective customer service policy allows you to communicate with customers, and help you retain customers both before and after sales. An instant service such as live chat, as well as a strong social media presence, will allow you to quickly and efficiently resolve customers’ issues, and can very easily transform a disgruntled customer into a happy, repeat one.
4. Don’t underestimate loyalty schemes
Loyalty schemes have been used for years, and for good reason. They are an invaluable way of encouraging repeat custom and inciting people to return more frequently to get better rewards. It becomes beneficial for both you and your customers, as you receive their repeat business, and they get more rewards each time they shop with you. Capture new customers by offering a scheme such as double welcome points, encouraging people to spend their money with you and potentially return in the future. A VIP programme can also be enticing for those who sign up for emails; offering them early access to sales, discounts on special occasions etc. can be invaluable in encouraging customers to spend more money on your business.
5. Send out engaging content
This is probably the most important aspect of retaining customers, as it allows you to curate a relationship with your customers after they have bought from you. However, it is vital that each email you send out adds something to that relationship, rather than just being an annoying presence in their inbox, and eventually banished to the spam folder! Email is the highest converting method – data has shown that most conversions on days such as Black Friday come via email, so it is worth investing a lot of energy into this!