Premium Customer Retention Strategies Employed By Tech Companies

Competitive prices are not enough. The modern customer is smart and remains loyal to a particular brand for the value it offers. For instance, customers have a positive experience if they receive personalised discounts and offers. These reminders of how valuable customers are keep them engaged and ensure the customer retention strategies work. Tech giants like Apple, Amazon and Paytm or Google are just some of the market leaders because of the customer retention strategies formulated and implemented by their marketing teams.

Becoming an Obvious Choice

The Mac versus PC ad in 2000 by Apple sought to divide the market and set Apple apart from competitors and it succeeded. Apple also focuses on sending newsletters to its consumers regarding every new product that they come up with. This is an excellent customer retention strategy. These are the reasons why Apple is the obvious choice for millions of people seeking a tech brand they can trust.

Going Beyond Discounts

One of the largest mobile commerce platforms is Paytm. When the company started out in 2010, it offered steep discounts of 50-60 percent. It later launched its own mobile marketplace and now has a customer retention strategy through cashbacks. This has replaced deep discounting. Cashback is rewarded above the discount retained in the wallet and used for further purchases.

This is one of the most clever customer retention strategies where a repeat purchase by customers is guaranteed. While discounting is an excellent way to attract customers, it does not retain them in the long run as competitors come with similar discounts. Cashback and mobile wallets have made a wonderful return for Paytm. This company now has 15 million wallet users, 15000 merchants onboard, 800 thousand orders per day and (read it to believe it) 90 percent repeat users.

Pushing the Technological Envelope

Google is another tech giant which offers a wide range of products that are wildly popular. This includes Google Maps, Gmail, Google Plus, Google Analytics and many more. It continues to be an online leader by pushing the technological envelope. Innovation spells out customer loyalty in ways no other initiative does. Google’s dedication towards constant innovation is the reason customers stick with brands. Keeping up to date with customers and an ever-evolving marketplace, Google prioritises advanced technologies. Google seeks to find ways to make customer lives easier and products that are in line with what users are looking for.

Innovation is the name of the game. It creates the best value for the customer’s money and is an essential ingredient for a tech company’s growth. Key client retention strategies by tech companies and e-commerce giants always focuses on harnessing the tools and platforms for providing customers a positive experience. Discounts, perks, privileges, bonuses, VIP clubs – the various loyalty initiatives most companies offer are endless.

What sets tech companies apart in the race for customer retention is the advancement of technologies. As it costs more to acquire customers, especially in the tech sector, IT companies and tech giants focus on retention with renewed commitment and dedication. The result is brands like Apple, Microsoft, Google, Tesla and more which are renowned brands that innovate and retain customers and drive phenomenal growth in the market.