Customer retention is at the core of every business today. As customer acquisition continue going up, businesses have been forced to become extra creative to retain clients and sustain high sales. In one of the studies done by the U.S Small Businesses Administration and the U.S Chamber of Commerce, it was established that acquiring new clients costs up to five times compared to retaining the existing ones. In this post, we bring you five most effective strategies for increasing customer retention with digital marketing.
Start by setting customer expectations
When you start working on any marketing effort, the first retention effort should be setting clients’ expectations. The expectations help you to clear the vision and enable a company to structure its operations around the Key Performance Indicators (KPIs). When you set very high expectations and deliver more than the clients anticipate, they will be happy and keep coming back for more.
The customer expectations should be drawn along the lines of their needs. This means you must start with comprehensive market research to determine what they need and how to deliver it. Remember to also set the timelines for evaluating the KPIs. Also, do not hesitate to implement changes to make the expectations more realistic.
Be an expert in your niche
If you position yourself as an expert in the niche, customers will always come for advice. They will come back to read your content and become part of the business community. As an expert, your word is taken with finality. Recommendations drawn in your platforms are rich in content and guarantee users of highest value. To become an expert in a field, you need the following;
(I) Carry comprehensive and regular research about the target market
(ii) Ensure to run a blog for educating and guiding clients
(iii) Generate regular and high-quality content about the niche
(iv) Consider running a monthly email marketing program
Build an extraordinary customer service
The customer support you install in business will define how satisfied the target clients are. When clients are treated well, they want to continue coming to you for more services and products. Good customer support is considered part of value addition to products or services.
The main components of great customer service include a commitment to the customer at all levels of interaction. This can be extended to include services and products’ perfection. Consider it as part of the business culture. The main components of high customer value include;
(I) Immediate response to clients’ inquiries about a product
(ii) Maintaining fulltime presence on social media and interacting with the target clients regularly
(iii) Offering solutions to clients issues at different levels using content and blog
(iv) Following customers who have bought products from email marketing and mobile apps
Implement special offer programs for your customers
When clients come and buy from you, letting them to simply go means a massive loss of business. You lose the profit that could have come from repeat purchase and referrals. By implementing a special loyalty program, your customers will find a reason to continue coming back for more. For example, a fitness company can consider a special offer of new fitness e-book to clients using its services. Think of special coupons, special discounts, and other creative considerations that will add value to clients.
Run customer feedback surveys and implement findings
Most customers who are not satisfied with your brand do not complain. They simply walk away, and the chances are you will never know what made them angry. Note that even if they do not tell you, they tell others and make them avoid buying from your site. The best method of identifying these complaints is providing them with a platform for airing their dissatisfaction.
Customer feedbacks make users understand they are valued, and their input towards improving the product is invaluable. Some feedbacks offer great insights on how to redefine the product and outdo competitors. To keep the customers coming back, make sure to notify them when the changes they recommended are implemented. Make sure to retarget them with new ads and special offers.