Let’s face it. Customers are the lifeblood of any business. The success of a business is dependent on the satisfaction of its customers, the motivation and professionalism of its employees, and the quality of products and services offered. Believe it or not, it’s easier to attract a new client than it is to retain them.
Customer retention is at the core of every business today. As the need to achieve a competitive edge rises, 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 the top five most effective strategies to 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 have a clear vision and enable you to structure your business operations around 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.
Customer expectations should be drawn along the lines of their needs. This means you must start with comprehensive market research to determine what your customer needs are and how to deliver on the same. 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 your business community. As an expert, your word is taken with finality. Recommendations drawn in your platforms are rich in content and guarantee users of the highest value. To become an expert in a field, you need the following:
- Carry comprehensive and regular research about the target market
- Ensure to run a blog for educating and guiding clients
- Generate regular and high-quality content about the niche
- Consider running a monthly email marketing program
Build an extraordinary customer service
The customer support you accord in your business will define how satisfied your target clients will be. 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:
- Immediate response to clients’ inquiries about a product
- Maintaining fulltime presence on social media and interacting with the target clients regularly
- Offering solutions to clients issues at different levels using content and blog
- 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 a new fitness e-book to clients using its services. Think of special coupons, special discounts, and other creative considerations that will add value to your 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 dissatisfied. 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.
The final take
Retaining clients in your enterprise helps to ensure they keep buying and referring others. Remember that no single super method is ideal for all businesses. The outlined five tactics will help you bring customers closer, understand what they want, and help you exceed customer expectations while maintaining high levels of satisfaction.