How to Retain More Customers at Your Business
Businesses need customers in order to operate. Ideally, you have a blend of both new customers and recurring customers that combine to support your business. Returning customers often result in a greater ROI for businesses. So how can you retain more of them?
Respond to Negative Experiences
Deliver a Quality Experience
If you want to keep customers coming back, show them it’s worth their time and money to do so by rewarding customer loyalty. Consider offering loyalty programs with desirable rewards. Access to exclusive deals and first access to new products may encourage existing customers to do repeat business with you. Extend discounts and perks outside of an official loyalty program too. Find ways to celebrate special events such as birthdays and customer anniversaries to make customers feel extra special.
Even if you intend for it to be otherwise, customers are bound to have a negative experience or two with your company at some point. It could just be an employee having an off day or a product having an unexpected defect, but either way it has a bad impact on the perception of your company. It’s important to take action and respond to such negative experiences when you find out about them. About 70% of consumers are driven to share their negative experiences with others. Sometimes this happens online, which gives you a chance to respond and try to fix the problem. If you show you’re willing to do what you can to make it right for your customers, you have a shot at retaining that customer and encouraging other consumers to support your business.
While you may be able to save customers after a negative experience, it’s better to deliver a quality experience as much as possible. Train your employees to offer excellent customer service every time. Make sure your products and services are of good quality and worth the price you’re charging. Extend this into your marketing by finding ways to personalize it for your customers. Get feedback from your customers about the customer journey so you know how you can improve it further. Continuously work to refine your process and show customers how much you value their feedback.
Retaining customers should be a priority for every business. You can retain more customers by rewarding loyalty, responding to negative experiences, and delivering a quality experience. As you improve your customer retention, you’ll likely notice an impact on both your company’s reputation and your bottom line.
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