Customer retention is one of the most important key factors in the growth of a business. But what exactly is it? How is it going to benefit the business? What are the strategies that we can use for a flourishing business? Let’s find out!
Customer Retention
To get into the depths of customer retention, we first need to understand customer satisfaction. Again, this is not the most well-known fact, but customer retention and satisfaction go side by side. You see, a happy and satisfied customer is more likely to return and has even been observed bringing in new customers. However, customer retention can be defined as actions and activities that companies or organizations use to reduce the number of customer detections, known as customer retention.
Customer retention is all about sustaining customers and keeping their presence alive. Many companies try out several customer retention programs to regain their old customers. In some cases, it works, and in others, it goes down the drain. However, it doesn’t mean that customer retention is a bad idea; it simply means that customer retention needs to be carried out in an ideal way.
So, if you’re someone who wants to boost his eCommerce sales by learning customer retention tips and tricks, you’re at the right place.
Strategies
Service & Experience
The first and foremost strategy for customer retention is about the service you provide and your customers’ experience with it. It sounds pretty elementary, but this is the most effective and vital strategy that works wonders when done right. Customers tend to come with the expectation that you will provide them with exactly what they are looking for. Customers come to you, and they already have their needs in mind regarding what kind of service or product you will provide them with. Believe it or not, customers come with the expectation of having a good relationship with you. So, what do you do here? What is your job when customers come in with such prospects?
Well, you not only have to live up to their expectations but also give them more than they need. It sounds a bit silly, but this trick works. You have to give them the experience of their lives in terms of how you carry out your services and how you deal with their queries. You have to go above and beyond what your competitors are doing.
Being stealthy
Strategy number 2 has much to do with staying under your customer’s radar. It has been proven that 90% of the time, when people head over to your website or interact with your business, they wait to convert. Therefore, their actions don’t lead to a sale or any profit right away. However, they may still be your ideal customer. But for now, they differ from where you want them to be. Maybe they are just there on your website searching, comparing, window shopping, etc.
So, what do you do now? How do you make a sale to a customer who isn’t in the mood? Well, here, your stealth gets tested. Your sheer dedication to staying under their radar gets tested. What do you do? Take a follow-up. Run up some targeted ads. Get those bad boys out and make good use of them. Use all the marketing techniques you’ve learned and place them in the right direction.
Automation
The next strategy that brings a boost in customer retention is the usage of automation. Automation in marketing techniques is a very effective way that helps plenty with customer retention. The usage of Customer Relation Management (CRM) and automotive emails is, without a doubt, pretty potent.
Many times, customers have come to a website, made their purchase, and have yet to return. Most of the time, it is because the responsible people have yet to follow up, generate an email asking for feedback, or even send in new offers. This is the last thing that any business wants: one-time customers.
You need to set up an automated process where you can follow up with the customer by activating automated emails and CRM. This will nurture the habit of keeping the relationships active. In addition, this will keep your customers aware of what kind of changes you’ve made to your services or your products, or even if you’ve added something new that can help in ways they don’t know about.
Referrals
Many marketing teams have been seen ignoring this effective technique; what has it brought them? Absolutely nothing. Asking for referrals will not only create growth in your customer count but also help you maintain that relationship with your customers. Give your customer a chance to show you off. However, that will only be possible if your product or service is undoubtedly stellar. Let’s face it, nobody’s going to brag about something they find pathetic. Shop the finest collection of rhinestone leather belts to give your look classy.
This step can often be taken when you have already developed a relationship with your customer. They came in, bought something, you kept a follow-up, and now, they are out there, marketizing your brand.
Showing Gratitude
Gratitude is one of the most effective strategies for getting customers to return to you again and again. Say thank you whenever you can. Appreciate their contribution to your business. Appreciate the fact that they chose to spend their money with you. Money that they earned with their sweat and blood. Appreciate their decision to choose you out of the many brands.
People love it when someone appreciates them and gives them a handshake. Be thankful. Appreciate their choice in choosing you.
So, these were the 5 customer retention strategies that, according to us, have done wonders for boosting eCommerce sales. Apply these to your marketing techniques, and you will surely have productive results.
