Customer acquisition take a lot of efforts and attention from our ends. The retaining customers work as blood bank for any business and the new as the circulating blood for the business.
For an organization to acquire a new customer costs six to seven times more than retaining an existing one and a light increase of 5% in customer retention can increase the profit shore 25% to 95%, or more than that. So when we are focusing on acquiring new customers, never forget about the existing ones.
The Idea Behind Retaining more Customers
Nobody can prevent you from choosing to be exceptional. Any individual can always make a difference in any business by believing in excellence and quality as his goal. There are no insignificant or ordinary jobs when they are performed by significant and extraordinary people. People who have a passion of significance see an opportunity to make a great difference in the lives of others.
Think about, “what kind of dissimilarity do you make?”
Do you include or detract from the experience of your customers? Do you draw your organization nearer to or encourage from its objectives? Do you perform your work in excellent way?
2. How well you know to your customers?
It’s very important to know your customers perfectly. You can serve better to your customers only if you know and understand them better. For this customers data with their accurate information matters a lot. The main thing to get your data in order.
You may have any number of data sources filled in excel sheet, with billing amount, purchase history, frequency of purchasing, age, income, or other demographics. Looking at this data you can know your customers in better way. So begin to know your customers, their likes, lifestyles and ultimately, what will make them loyal and buying MORE.
Email: The Effective way for Customer Retention
Today’s customers frequently utilize various advanced digital channels every day – mobile to check email and messages, Social networking to interface with friends, the web for search and exploration, etc. So it also plays an important role in customer’s retention,
Based on facts, email is the most compelling strategy for holding clients, trailed by Social networking and content marketing. At the point when based on information (recall step one, becoming more acquainted with your clients), email has one of the highest ROIs for Digital outreach strategies. You can make a better reach with highly personalized email based on their data history.
3. Make them feel special with Positive Customer Experiences?
- The positive customer experience is the key in keeping your customers loyal. In fact, customer experience is going beyond price and customers are paying more for better experience.
- Let them feel Personalized Experiences and make it as personal as you can. Remember their special occasions like birthday, marriage anniversary etc and wish them and you can make different offers for them as well.
- Quality is more crucial than speed.
- Customers prefer businesses who know them. So know your customers with their name to make them feel special and remember your customers’ customers.
- Try to engage customers and make them satisfied at all times.
- Try to respond to customers quickly and efficiently.
- Always Listen – What Your Customers are saying.
- Maintain Trust – works as a strong bonding to follow you.
- Be Transparent – Honesty is the best policy so always be honest.
- Make only those promises, which could be achieved.
- Always Say “Thank You” – Express your Kindness and Gratitude.