The core of any business is selling products/services to its customers, both new and current. While companies need to attract new customers consistently, it’s just as vital to retain current customers and have them continue doing business with you. Not only does customer retention guarantee that your business stays afloat, but it also contributes to attracting potential customers — customer retention gives the impression of consistent customer satisfaction, which can be a major deciding factor for potential customers when choosing which brand/business to purchase certain products/services from.
As such, we’ll be taking a look at different tips on how your business can improve its customer retention and subsequently boost your business:
1 Consistency Is Key
Granted that your customers are already satisfied with the current quality of your products and/or services, one of the best ways you can retain your customers is by sustaining or even improving quality. Many businesses have lost current or even loyal customers when they’re unable to keep the same level of quality. Your current customers want to continue enjoying the same quality of products/services from your business, so make sure that any changes you make would not compromise it. Likewise, this also applies to after-sale services that your business offers. You’d be surprised to know that customers are more likely to continue patronizing your business even after price increases in your products/services as long as they receive the same quality.
2 Acting on Feedback and Complaints
Another great way to guarantee or boost retention is by being more receptive to your current customers’ feedback and complaints. Check reviews and comments regarding your products/services on your business’ social media page, review sites (such as Yelp), or even by using customer satisfaction surveys in emails or on your business’ website. Speaking of business websites, you can also incorporate a review and feedback section for your products and services. Make sure that you act on this feedback and also respond to any complaints accordingly to show that you care about your customers.
Additionally, never forget to thank customers that post positive reviews and feedback regarding your products/service or even customer service.
3 Loyalty Programs
A tried and tested way to promote loyalty is through loyalty programs. Loyalty programs encourage your customers to keep doing business with you through exclusive perks and rewards, and can also help attract new customers as well.
4 ‘Saving’ Customers
In any business, there will always be dissatisfied customers. However, you can still win them back by offering exclusive deals (if applicable to your business model, as this is often done with subscription-based businesses). You can even get help by outsourcing to a BPO provider in the Philippines that specializes in retention and win-back promotions/campaigns.
5 Get Personal
Customers are more likely to keep doing business with you when they feel like you care or know them. This can be done by personalizing emails and letters they receive from your business. This is much more effective than the typical “Hello, Customer!” approach that makes them feel like they’re just a number. You can even go further by providing offers that are tailored to their needs based on their purchase history with your business.
Customer retention is easier said than done, especially when you’re in a line of business that has a lot of competition. However, with these simple tips, you can easily grow your loyal customer base and attract more potential customers along the line to ensure that your business continues to thrive.