One of the biggest challenges that many businesses face has to do with customer retention. Whether you run a business online through content marketing or you are an owner of a local grocery store, you need to do whatever it takes to maintain your existing consumer base. Many businesses focus too much on customer acquisition and invest less on retention. Of course, there is nothing wrong with bringing new customers onboard, but retention is the bulletproof mechanism through which the expansion of your business depends on. With that said, here are the top customer retention techniques that work in 2017 and beyond.
Many businesses fail terribly because of the inability to build trust. A study conducted by Build Fire shows that building trust is as important as getting customers to buy products and services. And therefore businesses should pay more attention on building seller-buyer trust.
Successful businesses are built on trust. When two people are involved in a business, if there is no trust, the business dies. And there are only two persons in your business: You and the customer. Seeing how important trust is to your business, you’ve to consciously make attempts to promote trust. As you initiate relationship with new and existing customers, you give them the opportunity to trust you.
When you build a long-lasting relationship with every single customer that comes to your business, you will grow your consumer base with ease. And if customers are able to trust your business, you can be sure of their unending loyalty.
Maybe you are losing customers because you don’t keep in touch with them as often as you should. To stop this from happening, Marketing Wisdom recommends creating and using a frequent communication calendar.
Avoid losing your customers by building relationships and keeping in touch using a rolling calendar of communications. This is a programmed sequence of letters, events, phone calls, “thank you’s”, special offers, follow-ups, magic moments, and cards or notes with a personal touch etc. that occur constantly and automatically at defined points in the pre-sales, sales and post-sales process. People not only respond to this positively, they really appreciate it because they feel valued and important.
The beauty of this calendar is it helps you to keep in touch with existing customers for the long haul. Not only is frequent communication likely to help business-customer trust, but also it might earn you more customers to your business through consumer referrals.
Another way to retain customers and have their loyalty is to target them with special offers. The Super Office describes this as a great way to often target customers with the products they frequently buy.
The more you know about your customers, the more you can tailor your approach to each individual. CRM software lets you view a customer’s purchase history so that you can determine what kind of offer will be most appealing to each individual and increase relevancy, which will keep your brand on your customers’ minds.
Many businesses don’t really pay attention to the special needs of their customers. If you can do this, you will be a step ahead in the way you deal with your consumers.
It is perfect to spend on customer acquisition. But the most important thing to do right now is to invest in customer retention. After all, if you can build a long –lasting relationship with an existing customer base, you are highly likely to get many customers through referrals.
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