Business - Markets Reports and Financial News

Customer Retention Strategies: What No One Is Talking About

Written by - Reviewed by Glozine Team

Published: Jan 31, 2019 | Last Updated: Jan 31, 2019

For any business, finding new ways to increase revenue is always a challenging task. And well, you might ask what’s better than getting sales from new customer? The answer is retaining an existing customer.

The growth of your business is directly proportional to the number of new sales you’re making. But nudging your existing customers lead to sustainable business growth. More often than not we hear it is cost effective to retain your existing customers than to find the new ones. Especially in this fast-paced digital world, where everything is gauged on clicks and conversions, it’s imperative to increase the dwindling attention span of your customers.

A report by Econsultancy shows there’s a surge in the investment while acquiring a new customer from 31% to 34% and a significant decrease in the investment while retaining them.
Econsultancy
The secret to customer retention and turning them as brand advocates is to follow up in such a manner that your customers would have a positive effect whenever they shop with you. If you’re yet to pitch your existing customers, now is the time. Build an extensive strategy for customer retention.

As per KPMG, Customer retention is quoted as the biggest strategy to generate sales.
customer-retention
Here are three proven customer retention strategies that no one utters out loud.

1. Keep your customers updated

Let them know what you’re doing for them. This can be in the form of an email newsletter or a phone call. The key is to make them aware of the things you do to enhance their experience. If you’ll not mention, they’ll not notice. Make sure you don’t go overboard while communicating with your customers. Just tell that whenever they buy your products or services, they will get an everlasting experience. Tell them you personally take care of the shipment so they have one less thing to worry about.

2. Surprise your customers

The truth is everyone loves surprises. When it comes to holding on to your customer, think of a valuable offer you can give them without their knowledge.

Adding a surprise element not only makes your customer happy but also strengths your relationship with them. And it is a no brainer to say your customers would love the feeling of feeling special. If you want them to come to you each single time, you need to stretch an extra mile to serve them. Normal and ordinary is, anyway, normal and ordinary and you should not become just that.

You can also send them handwritten notes. For example, Hey Anna, A box full of happiness delivered right to you. In today’s era where we say good morning and good night on messages, handwritten notes not only add a personal touch but also revive a human connection. If you want repeat business from your customers, never leave a chance to make them happy. I repeat never.

3. Use automation tools to reengage your customers

Whether it is to publish content on different social media platforms or sending personalized emails, automation tools will do what is needed. They also help in getting a surge in the conversion rate and streamlines the communication channel.

At the point when you’ve your tools and procedures in place, you’ll have more chances to fulfil your promises. Always remember, a happy and satisfied client would bring another ten prospective clients.

Wrapping up

A wise man once said the easiest way to grow your customers is not to lose them. So, here it is — three sure shot strategies to retain customers and get repeat business. Which strategies you’ll use to increase brand loyalty and skyrocket sales? Let me know in the comment section.

Author Bio

This is Sharon Winget, Staff Writer with GoodFirms, a review and rating platform of top IT companies & software. A tech geek at heart, I strongly believe technology can transform societies. I enjoy blogging about web design, email marketing, and content marketing.

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