Customer retention is at the core of all businesses today. As customer acquisition continues to increase, companies have been forced to be more creative in order to retain customers and maintain high sales. In one of the studies conducted by the US Small Business Administration and the US Chamber of Commerce, it was established that acquiring new customers costs up to five times compared to retaining existing ones. In this post, we bring you the five most effective strategies for increasing customer retention with digital marketing.
Start by setting customer expectations
When you start working on any marketing effort, your first retention effort should be setting customer expectations. Expectations help you clarify vision and allow a company to structure its operations around key performance indicators (KPIs). When you set very high expectations and deliver more than customers anticipate, they will be happy and keep coming back for more.
Customer expectations must be drawn according to their needs. This means that you have to start with a thorough market research to determine what they need and how to deliver it. Remember to also set the timelines for evaluating the KPIs. Also, feel free to make changes to make your expectations more realistic.
Be an expert in your niche
If you position yourself as an expert in your niche, clients will always come for advice. They will reread your content and become part of the business community. As an expert, your word is taken firmly. The recommendations made on their platforms are rich in content and guarantee users the highest value. To become an expert in a field, you need the following;
(I) Carry out a thorough and regular research on the target market.
(ii) Make sure to run a blog to educate and guide customers.
(iii) Generate regular and high-quality content about the niche.
(iv) Consider running a monthly email marketing program
Develop extraordinary customer service
The customer support you install in the business will define how satisfied your target customers are. When customers are treated well, they want to keep coming to you for more services and products. Good customer service is considered part of the added value to products or services.
The main components of excellent customer service include a commitment to the customer at all levels of interaction. This can be expanded to include perfection of services and products. See it as part of the corporate culture. The main components of high value for the client include;
(I) Immediate response to customer inquiries about a product
(ii) Maintain a full-time presence on social media and interact with target customers regularly.
(iii) Offer solutions to customer problems at different levels using content and blog.
(iv) Tracking customers who have purchased email marketing products and mobile apps
Implement special offer programs for your clients
When customers come and buy from you, letting them go simply means a massive loss of business. You lose the earnings that could come from repeat purchases and referrals. By implementing a special loyalty program, your customers will find a reason to keep coming back for more. For example, a fitness company may consider a special offer on a new fitness e-book for customers who use its services. Think of special coupons, special discounts, and other creative considerations that will add value to customers.
Run customer feedback surveys and implement the findings
Most customers who are not satisfied with your brand do not complain. They just walk away and you most likely never know what made them angry. Keep in mind that even if they don’t tell you, they tell others and it makes them avoid buying from your site. The best method of identifying these complaints is to provide them with a platform to vent their dissatisfaction.
Customer feedback makes users understand that they are valued, and their contribution to improving the product is invaluable. Some reviews offer great insights on how to redefine the product and outperform the competition. To keep customers coming back, be sure to notify them when the changes they recommended are implemented. Make sure to retarget them with new announcements and special offers.
The final shot
Retaining customers with your business helps ensure that they continue to buy and refer others. Remember that no super method is ideal for all businesses. The five tactics outlined will help you bring the customer closer, understand what they want, and deliver it in the best possible way for guaranteed results.