The TIG Blog
7 Ways to Increase your Customer Retention
Increase Customer Retention with these 7 Easy Steps
Keeping a loyal customer is more beneficial in the long run and can help build a strong relationship between you and your customer. So many companies are focused on achieving new conversions that they don’t focus on customer retention.
When a customer first makes their purchase, they feel a variety of ways - They can be excited to have something new - Regretting the amount they’ve spent - Nervous about the decision or product - Anticipating the product
This leads to an opportunity to build trust and loyalty with your customer. If you want this customer to feel good about their purchase or to consider your company for their future needs this is an important time to reach out. How can you reach out, or what can you say? We will give you 7 easy things you can do to not only ease your customers concern but also increase the chances of them becoming a loyal customer. Yet, very few businesses focus on retaining customers.
Here are a few ways you can increase your customer retention:
1. Thank them
A simple “thank you” goes a long way. It can show your customer that you value them, and it can help build a longer-term relationship. This can be sent in email or text for after their purchase. Automation campaigns can help to with this process and provide you with various options to reach out to your customers.
2. Return policies
Refunds and return policies are a big factor for purchaser anxiety. One way to ease this anxiety is to be clear about your refunds and return policies. This transparency shows that your brand isn’t only focused on sales, but also on the customer’s needs. This in turn helps build trust with your customer. This can be done in a variety of ways. If can be on the order confirmation email, on your website, sent separately with shipping information, or in any and all other processes done after the purchase.
Once a customer has made a purchase you want to facilitate the use of your product or service. This is also an easy way to reduce the risk of returns. Think about it, you’ll have less frustrated costumers. A simple way to go this would be to create a “How-To” guide or some information on the product or service purchased. This can be directly on your website or sent over specifically to the customer. Or both, an email with the link to information on your website.
This is an easy way to let your customer know that you value their opinion and that you strive to improve your products or services. You can ask for feedback on items or services that they have purchased. Just keep in mind the time frame in which you ask for this information. Some products or services can be reviewed shortly after delivery(t-shirt), while others (computer) take time to use all features and be able to review them.
These reminders can be easily managed through automated email. Let your customer know when they are due for a new service or their product is about to run out. This is a little attention to detail that can enhance the customer experience and create convenience.
6. Loyalty Programs
Having a loyalty program is a simple way to make your customer feel special. This is taking the “thank you” and going a step further. It can be done as easily as emailing an invitation to join this program. This program can have a variety of benefits that can include but aren’t limited to: VIP email list, special benefits, exclusive offers, access to VIP sales and much more.
The more information you have on your customer the easier this tip will be. Send your customer complimentary items or services. What are other items that might complete their look or product? For example, if they purchased some, let’s say, seasonings. You can send them an email of other items they can buy from you that will make an amazing chicken recipe using the seasoning they already purchased. This can be done for any service, and or product.
It can cost from five to 25 times more to acquire a new customer than to retain one and increasing retention rates by merely 5% can increase profit from 25% to 95%. So it would be in your best interest try some of these tips.