Although some of us are business owners, all of us are customers. To improve customer retention, I’m sure you’ll agree with me that it feels better when businesses treat us as individuals, rather than one more uniform target to be sold to.
Improve Customer Retention
This difference is at the heart of customer retention. If your customer base seems to have a revolving door in it, here are some great tips to improve customer retention.
Target them With Special Offers
The more information you have about your customers, the easier it will be to tailor your digital marketing materials to the individual. By setting yourself up with some good CRM software, you’ll have access to a given customer’s purchase history, allowing you to pick up patterns in their behaviour and determine the kinds of offers that are going to be more appealing to them.
If there are customers who have shown interest in your product, but haven’t actually made a purchase, offering some kind of discount is often all it takes to convert that interest into action. With a good CRM platform, you’ll be able to create a list of everyone who’s subscribed to your email newsletters, and compare this to all your open sales activities, and take it from there.
Being More Memorable
Think of all the businesses that you’ve been loyal to over a long period of time, and what makes those businesses different from the alternatives. I’m sure it’s easy to see that being unique is one of the key traits to any business looking to retain more of its paying customers. This is a trend you should play along with if you want to keep a larger proportion of your customers coming back for more. Whenever customer loyalty seems to be dwindling, change things up with a new, cutting-edge feature.
360 videos are all the rage right now, and adding one to your online materials will make your customer’s experience much more memorable. Depending on your business model, you might also want to use mobile live video broadcasting and similar “real time” tools to keep your customers updated on developments at your business. You want to improve customers retention, feel connected to your core brand identity, but if you’re not making changes every now and then, you’ll quickly become forgettable.
Reward Your VIPs
Your VIP customers – the ones who are responsible for the most profit at your business, are usually the ones who feel the greatest sense of loyalty to your brand. If you only retain a handful of your customers, then these are the people who should get priority. VIPs will not only be easier to retain, but will make more purchases in the long term compared to the large majority of your customer base.
Start keeping a list of your most profitable customers, and make the time to send them personalised follow-ups after their purchases. Include a sincere thanks for their time as to improve customer retention and offer them some kind of discount, and try to insinuate that there’s more to come if they stay with you!