Increasing the number of repeat customers and increasing the profitability of each existing customer are really challenging. Businesses should strategize how to extract more value from your existing customer base.
Your goal is to ensure the customers you worked so hard to acquire stay with you. This is possible by giving them a great customer experience and making them continue getting value from your products.
Boosting customer retention
Keep in mind that planning how to retain current customers is just as valuable as finding ways to acquire new ones. Here are some of the ways you’ll be able to gain your customers’ trust and loyalty.
Develop your customer support
Customers hate ineffective customer support systems. It is one of the major turn offs that could make them hate your brand as a whole even if it’s unnecessary. So, you have to be careful and you have to be able to level up your service to them. You can either have a live chat or help desk tool available can turn a customer question into a sale or a customer complaint into a resolution, whether they come in on site, through email, or via social media. The more concerns you solved effectively, the higher the chance these customers can be retained.
Meanwhile, customers see fast, friendly, and consistent customer service as the gold standard. If you help customers avoid problems and get the most out of your products, you’ll be doing both of you a favor.
Establish your own customer loyalty program
Creating a loyalty program can be as simple as rewarding customers on their second purchase. It would be easy to see who your best customers are by dollar value and total number of orders. Additionally, you can opt for automated loyalty apps which can reward your customers for a variety of actions they take in your store. Through this, you encourage them to buying over and over again.
Provide discount or credit to return
Usually, when you discount your products you make your customers expect for continuous dropping prices, which you cannot always cater or else you’ll end up with loss of revenue.
However, when discounts are sent to a first time buyer, they tend to actually love it. Sending a discount code for their next purchase with a first time order is a great way to motivate them to come back. At this point, discounting becomes effective in bringing back customers that haven’t purchased in a while.
Keeping customers is the key to grow your business
You can always have a new customer every day. But it will never be as rewarding as being able to keep and maintain current buyers which would supply you with constant purchases. Having them purchase over and over again with different kinds of your products will make sure you have a steady flow of revenue. Plus, if you treat well enough, they might even be your ground marketing agents promoting your brand for free.