The Keys to Customer Retention
Every strong business wants to continue growing, and for many owners that means more customers. While every business will value new customers, studies show that in the long run, investing in customer loyalty and retention is far more profitable than attracting new customers in the short term. According to a study at Harvard Business School, increasing customer retention by just 5% can increase your long-term profits from 25% to as much as 95%. You can’t argue with numbers like that! So, how do you retain customers? Here are five easy tips to create and keep customer loyalty for your business.
1. Giving Your Customers the Perfect First Experience
The old familiar saying tells us we never get a second chance to make a first impression. In the digital age that has never been more true. The sheer number of choices the internet offers guarantees that a lackluster website will be left behind. Is it slow to load? Close it. Is the store hard to search? Find another. Customer service can’t help? Move along.
Pairing the power of Logicblock with a Customer Relationship Management (CRM) program like Zendesk Sell will guarantee customers a positive first experience. 7cart ecommerce and customer service tools combine to create an intuitive, satisfying customer experience.
2. Listen to What Your Customers Are Saying
Giving your customers the opportunity to be heard is a straightforward way to foster trusting relationships with your business. We all appreciate when someone takes the time to just listen. The feeling of being heard promotes trust, communication, and faith that you are in the right hands.
We’ve already mentioned what a powerful tool a good CRM like Zendesk Sell can be for your business. Using it to integrate your online business with surveys, star rankings, and community forums gives customers the opportunity to provide feedback, express interests in new products and services, and connect with your business. Pair that feedback with Logicblock’s flexible storefront and you’ll always be ready to adapt to your customer’s needs.
3. Keep in Touch
It’s never been easier to communicate with your customers. Are you adding new products to your online store? Make sure to send an email to your customers letting them know what you’re offering and where to find it. Busy day at the office? Post about it on social media. Having a flash sale? Give your loyal customers a head-start on their way to savings with text message alerts. Want to know what your customers are up to? Post a poll and let the replies pour in. Customers are like family. You wouldn’t leave your family out of the loop when making a change or celebrating a milestone. Keep in touch with your customers and keep them coming back for more.
4. Reward Loyalty
At first, they might not sound quite right for your business, but customer rewards programs can be much more than just punch cards and free sandwiches. Businesses that reward repeat customers also attract new ones by using the same systems. A simple system (“For every X purchased, each customer receives a Y”) with plenty of options built in (chose between discounted services, free upgrades, new products, etc.) will have your customers looking for more opportunities to do business with you and earn future rewards.
5. Be the Best You Can Be
More than any one strategy or gimmick, the real keys to customer retention is being the best version of your business you can be and always putting your best foot forward. Is the key to your business your peerless customer service? Are you known for being the only one who offers your service in the area? Do you have the best prices around? Is your stockroom full of the latest industry technology? Logicblock helps bring your company values online, so your customers are always looking at “the real you.” Focus on what makes you you, lead with that strength, and those customers will surely be back soon.
Learn more about how to Establish the Human Connection and keep your customers coming back.