Cheap Customer Retention Management Tips You Can Action Today!
Customer retention management
ideas will save you from incurring the costly expense of customer churn. Though
customer retention is measured by businesses in terms of average order value,
frequency of purchases and lifetime value of a customer, it is one of the most
qualitative metrics of goodwill earned by the business.
- Maintain A Frequent Communications Calendar
Customers rarely
remember your brand unless it creates a lasting impression in their minds. In
many cases, even if customers are satisfied with your product or service and want
to repurchase, they may not remember your contact details. Businesses must make
it a practise to update and adhere to a frequent communications calendar which
prompts them to keep in touch regularly.
- Personalize The Shopping Experience
Behavioural statistics
have proved time and again that customers prefer to shop with a company that
can provide them personalized experience when shopping. Look out for those
minute feel-good factors and work on them to create positive experiences for
your customers. These are more consistent in customer retention management than
free gifts and discounts. For example when you asked for poolside room in a
hotel and they allot a similar room to you the next time when you check in
before you ask for it, brand affinity is guaranteed.
- Connect Through Social Media
Social media
communication is not expensive and can get guaranteed results in customer retention management.
Customers on social media sites share information in a conscious and effective
manner. It is a great place to promote your loyalty programs and promotional
events. Social media remarketing campaigns bring in the missing human element
in corporate communication. It leads to the generation of the valuable
marketing asset, namely user generated content.
- Be Empathetic In Customer Service
Customer service is
the most potent tool by which customer's expectation of your brand can be
matched and exceeded. Be patient and display compassion and empathy over
customer calls. Improve your access to customer database and have those details
ready when answering customer calls. Many customers dread the prospect of being
put on hold endlessly. Be courteous and receptive during customer calls. Give
them the impression that their conversation is being heard and reaffirm that
their complaints will be solved in the shortest time frame possible.
- SMS For Remarketing
When compared to
emails, these short messages have an amazing click-through rate. Because of
their size, they urge customers to take immediate action. They are highly
effective in attracting attention towards loyalty events, offers and campaigns.
Premium messages even have facilities for customers to give feedback, pay bills
etc., that add to convenience in transactions and payments. Subscribing to a
bulk SMS software is not very expensive and selective lists of customers based
on their demographics can be created.
These tips will not
be hard on your budgets and can be actioned with immediate effect. To keep
customers engaged and positively influenced by your brand, focus on consistent
efforts in creating comfortable experiences for them, both online and offline.