How do you retain your customers?
So, you have spent time and money attracting customers to your business. They have perhaps made one or two purchases, but then you never see them again. Was it something I said? Unlikely. There are several laws at play here that can cause your customers to walk. There are also ways to hold onto them. This blog explores some of these options.
Keep in touch
68% of customers will leave you because they think you don’t care. Sounds a bit churlish, but customers rely on the relationship behind the sale as much as the end product itself. Call it self-reassurance if something goes wrong. They know where to find you.
Send information out like customer feedback reports. Ask questions about customer satisfaction and allow them an avenue to feed back their thoughts to you. Try to get your customers interactive with you. Ask questions like how would you like us to improve service? or what extra functionality in our product would you like to see? Getting your clients involved this way serves several purposes, which can include an insight to what is important to them about your business.
Write newsletters and encourage your customers to subscribe. People are more likely to read something that they perceive as valuable to them or their business. So, go heavier on informational content and lighter on promotional. Include promotions but also blogs you think they might like to read. Whatever personal hang-ups you have about being on someone’s list, or potential customers being on yours, it’s time to get over them. Because, in the end, if you’re giving someone what they want, those people will read every single word you send their way and still want more. And that is one of the best ways to build long-term relationships with clients, exponentially growing your business over time.
Don’t overdo it. Sending out too much mail annoys and is a sure-fire way to get them to unsubscribe. Most don’t mind an occasional mail or monthly newsletter but make sure you don’t end up filling their inbox with trivia.
Ignore the unsubscribes. It’s likely you will take them personally at first but as your lists increase so do you those that unsubscribe. The fall out is nothing personal. There are several reasons people unsubscribe and unless you are getting an attrition rate above 5% don’t worry.
You can also keep in touch through content marketing. Regularly updating your news or blog pages shows your customers that you are not just stagnating and that things are happening behind the scenes. Choose topics and create content that you think your customers might be interested in.
Customer loyalty Programs
We tend to think of the supermarket giants when we talk about loyalty programs. In my opinion the supermarkets don’t really give much back in return of your loyalty, but that doesn’t have to be the case for your business. If you are a small business, make your offers stand out. The more they shop and interact with your business, the more they’re rewarded. This keeps customers happy because they’re getting more from the experience than just your product or service. And, since the top 10% of your customers spend three times more than the rest of your customer base, you’ll want to make sure these users are more than satisfied.
Stand by your brand
Sometimes a brand inspires loyalty not through tactics and systems, but through what they stand for.
If you’ve ever watched Simon Sinek’s TED talk “Start with Why,” you probably already know a thing or two about the importance of having a mission, or “reason why.” The reason why we do something isn’t to make money. That’s an end product of the effort. The reason why we do it is our purpose, cause or belief. If you can get the reason why your business exists over to your customers, you will help retain them from trust in the brand.
What about those who are leaving?
So far, we’ve talked about retaining existing customers, but what about those who are leaving? Customers, just like products, tend to progress through a lifecycle. In this case, a “customer lifecycle”. If you manage this process properly, you will have customers who continue to add value to your organisation.But let’s face it, sometimes customers will still want to leave the organisation so in that case, the question becomes how do you retain customers who are leaving?
One of the most proven and effective ways to drawer customers back again is with an outstanding offer at exit. You can build this into your customer exit experience. Of course, your customer may leave regardless but dangling the proverbial carrot entices and you can be certain to retain some you would have lost otherwise.
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