6 Strategies to Help Improve Customer Retention

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6 Strategies to Help Improve Customer Retention

In simpler
words, customer retention is defined as the method of making one-time buyers
become recurring customers. Customer retaining methods and objectives vary
greatly by the industry. For instance, a company that offers high-speed
internet service plans such as
Cox internet
essential package
 will employ customer retention strategies that would
essentially different from the ones used by an e-commerce store.

However, the main target behind all customer retention strategies used by companies of any
business sector is to provide high-quality services and products. This in turn
would make their customer come back every time.

If you are a business looking for strategies that can help you
improve your customer retention and loyalty, these tips could be of interest to
you.

1. Introduce
Rewards & Loyalty Programs

Introducing
rewards and loyalty programs are an excellent strategy to boost customer
retention. These techniques provide your customers with incentives to consider
shopping with you again. The customers who decide to become a part of your
loyalty program should feel that you care about them.

Businesses
can use this chance to introduce some exclusive rewards, discounts, or deals.
You can also show them a preview of your upcoming products allowing them to
place pre-orders with special offers.

There are
various ways of offering loyalty rewards apart from the ones mentioned above.
For example, offering customers some coupons, scratch card gifts, or redeemable
points can also prove to be a good strategy for customer retention.

2. Build a Better Thank
You
Page

Many
businesses only use their ‘thank you’ page to inform customers about the
summary of their orders, shipping details, and thanking them for choosing their
products or services. This presents the ‘thank you’ page as only an exit door
and shows the end of a transaction. This page can be made meaningful and
engaging for customers using the following two techniques.

1.     
Foot in the
door

Once the customer is done making a purchase, you can use the
opportunity to request that they may share their purchase satisfaction via
social media platforms. You can also request the customers to subscribe for
updates on future sales of products, or services, etc.

2.     
Choice-supportive
Bias

Businesses can also use the ‘thank you’ page to display their
customers’ testimonials showing their satisfaction with purchased products or
services. Some successful businesses use this opportunity to show a video of
product features and how to use it.

This allows
your customer to feel that you care for them. 

3. Establish Excellent Customer Support Service

In modern
era, artificial intelligence (AI) is driving revolutions in every industry.
Businesses are now using AI to automate their customer support service.
However, many businesses still use traditional human customer service for the
fear of losing ‘a personal touch’. While that is a valid concern, the
tech-savvy generation often prefers to use AI when taking care of a problem.
Why? Simply because AI is faster, accurate, and is programmed to resolve most
technical issues without the need for human intervention.

Chatbots are
the latest hype when it comes to providing the best customer support nowadays.
A chatbot act as a self-service mini-robot that can solve most issues in a
matter of minutes. Using this tech, businesses can automate their customer
support while keeping a few people as back up for instances where a chatbot
can’t help.

4. Introduce a Mobile App

Many
successful businesses use a mobile app to expand their customer base. It works
because a vast majority of people practically live on their smartphones. From
groceries to clothes, to food and so on, people use mobile devices to buy
everything. I even connect with my
Cox Customer
Service
 via their app which is extremely convenient! Therefore,
introducing a user-friendly mobile app for your customers will definitely help
your business with customer retention. 

5. Set Expectations That are Realistic

Since your the goal is customer retention, telling customers upfront about what they should
expect from your business is very important. Customers like to be presented
with facts instead of vague information. For instance, if a customer is to book
an order with your company, they would like to know the exact details about
when and how they would get their delivery. You can use emails to communicate
the delivery details and letting customers know that their order has been
received, processed, or shipped, etc.

6. Follow Up with Customers

The last customer retention tip on this list is
that you should always remember to follow up. If a customer only hears from you
once in a blue moon, they will surely forget about you. Using customer service
platforms to follow up with consumers is one way. Another way of
following up with customers is by ensuring you create distribution lists. These
lists include emails and phone numbers of your customer and can be used to send
your customers information about seasonal sales, promotions, deals, and order
information, etc.

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