Nail Customer Retention with These 5 Strategies

Do you currently focus all (or most) of your time and energy on new customer acquisition? While surely an important aspect of any business, are you aware of the value associated with customer retention? By keeping the customers you already have, you are highly likely to see an increase in profits. How? Because return customers buy more. And, they cost less to market to. In fact, repeat customers spend on average 33% more than first time customers.

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And, 70% agree that it is in fact cheaper to retain customers than acquire new ones. Even with these, and countless other, stats in mind, plenty of brands continue to allocate the majority of their resources to acquiring new customers. You don’t have to be one of them! Instead, take a look at these 5 strategies and see where you might should be spending some extra effort.

Social Media

Social media is a real game changer. You already know a lot about the value social media brings to your brand, but there is a lot of untapped potential here in terms of customer retention if you are willing to take the time or provide necessary resources. All the major platforms (Facebook, Twitter, Instagram, etc.) are not meant to be one-way advertising streets. If your existing strategy is just to keep all of your channels updated, you’re missing out on a lot. Instead, reach out to your audience by responding to comments, commenting on user images, reposting user content, hosting contents, and more. Use these platforms as a way to start a conversation about your brand and keep up with it by engaging your audience. Twitter chats have become very popular, for example.

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These chats are a great way to make your brand feel more personal and approachable, something consumers look for today. Additionally, research shows that users who receive responses from brands on Twitter are willing to spend up to 20% more. Provide a hashtag for people to join the conversation (like #SproutChat in the above example), and start chatting. Keep in mind that this can all easily take up a lot of your time, so consider hiring a designated social media management person or team.

Exceptional Service

If a customer is not happy with their entire journey with your brand, they are not likely to return. This concept is commonly known as “customer churn,” and it is exactly what you want to avoid. Therefore, you need to make sure that the service you’re providing is exceptional. This includes customer service, but is not limited to it. Nearly 70% of customers say that their main reason for abandoning a certain company is because of a bad customer experience.

For example, is it easy for a user to make a purchase at your site, or do they have to jump through a lot of hoops? Is your shipping policy clear, and do you keep users updated in real time about the status of their packages? What is your customer service policy, and how easy is it for your customers to get answers they need quickly? These are the types of questions you need to be asking yourself. Also, once a sale is complete, don’t feel like your connection with the shopper is finished. Consider following up with them to thank them for their purchase and to ask if they have any questions or concerns. Again, all of these things take time, but they are worthy investments.

Retarget Old Customers

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Customer retention is not limited to just the customers that you have right now, but include customers who have shopped with you previously. Even if it has been months (or longer) that a user has visited your website, they are still valuable and are easier to market to than a brand new customer. Consider setting up solid retargeting efforts to gain back some old customers that you haven’t heard from in a while. There are plenty of ways to go about retargeting, but one method follows the above example. Email retargeting is an easy way to reach out to old customers. Not only are you reminding them about your brand, but by including something like a discount code, you are giving them an incentive to come back and shop with you.

Listen to Feedback

One of the best things you can do to improve customer retention is to ask for feedback from your customers. Instead of you trying to understand what your customers want from you, why not just ask and get direct feedback? Consider sending out a survey after someone makes a purchase with you or after they have contacted customer service, for example. More importantly: try your best to implement the suggestions that your customers are making. A staggering 97% of customers said they are more likely to become loyal customers of brands that actually implement their feedback. While it is not realistic to honor each and every request, there are likely several that would be feasible for you to do.

Web Push Notifications

Finally, a great marketing tool that will help with your customer retention efforts is web push. These notifications engage current and previous customers, and even better, are incredibly easy to set up and have higher visibility than most other platforms give you. With these notifications you have tons of tools that help you create better, more personalized campaigns that your audience will respond well to. Personalized marketing is expected from users today and can help in securing loyal customers. Easily create segmented audiences based on numerous factors including geographic location, how much a user spends, items they have looked at or purchased, last time visiting your website, and more. As users fit these requirements, they will automatically be added into the segment. All you have to do is go in and build your message, select the segment, and that’s it.

As for specific examples of personalized campaigns, you have the ability to set up automatic notifications alerting users that their items have shipped or that they have left items in their shopping cart, just to name a few. These automated notifications provide a lot of value to your customers, and also take no real effort on your end. Simply set up the campaigns once and they will trigger automatically going forward.

If a customer is not happy with their entire journey with your brand, they are not likely to return. This concept is commonly known as “customer churn,” and it is exactly what you want to avoid. Therefore, you need to make sure that the service you’re providing is exceptional. This includes customer service, but is not limited to it. Nearly 70% of customers say that their main reason for abandoning a certain company is because of a bad customer experience.

About Author

Briana Barkett is from Atlanta and is a die hard Falcons fan.  She specializes in digital marketing and content creation and is currently part of the content marketing team at Aimtell. Her focus is on ecommerce and how brands can best increase their visibility on the Internet via content creation, social media, and other various digital marketing tactics.

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