A common mistake committed by most businesses is that they focus more on attracting new consumers than retaining the existing ones. But have you ever considered the benefits of a loyal customer base? It is certainly easier and cheaper to retain your existing customers than to invest in drawing new ones. Besides, happy customers do the best advertising job.
If you’re a start-up brand, it’s justified to have your eyes focused on drawing in new customers. But once you have started gaining traction, you need to start thinking about customer retention campaigns. Repeat sales reportedly drive higher profits than flying customers.
Here are some quick strategies that can help any brand to hold onto their loyal consumer base.
1. Nurture your target customers:
There are two policies that you need to remember and implement at all times: the first you must already be familiar with - the customer is always right. The second - pamper your customers like you mean it. You can start by updating and upgrading your stocks. In physical stores, excellent customer service is a must. Set up an ambiance suited to the demography of your target customers. In e-commerce, you can opt for a page with smart navigation features so that customers find it user-friendly.
2. Make provision for a customer profile:
Since online shopping has amplified beyond expectations in the past year, you need to start focusing on your e-commerce customers. Have them (not force them) create an account so that you can track their activities. This will help you to know them better, offering data that you can use to address their preferences and fascinate them with exciting offers and discounts. The shoppers should be required to save their personal information in their accounts. In case they decide to reorder, they shouldn’t have to go through the hassle of providing all the inputs anew. The journey from browsing to ordering should be as effortless as possible.
New customers should have the option to skip registering if they simply wish to browse at first.
3. Go for segmented campaigns
Every business needs to deal with a varied customer base, which means different behaviors need different strategic dealing. Thankfully, e-commerce offers much scope for tracking consumer behaviour. You can refer to the database to identify diverse behaviour and have segmented campaigns planned categorically. Some customers buy only when discounts are available. You know what to do with them. Offer them more discounts! You will have inactive customers who have not made a purchase in months. Email them as a reminder!
4. Offer loyalty points
This strategy never fails! It shows the human side of your business and who doesn’t cherish humanity? If you have a regular customer who is consistent with his or her purchase, acknowledge their loyalty. You can offer extra discounts, some exclusive offers, free deliveries, or coupons. Treat them special because they have earned it! They will reciprocate by extending their loyalty. Additionally, they will bring their family and friends to your store when they see how you reward loyalty.
5. Personalize the follow-ups:
Your business doesn’t end when the purchase is done. A follow-up is a basic step you have to arrange for. Personalizing the follow-up only makes it better. Leave a message via email or SMS about how they are enjoying the product or how was their shopping experience. This will encourage them to leave a review. And you need reviews for your sales. This will further lead to a bonding relationship between you and the customer. These personal touches make the customers happy. You will be amazed at what happy customers do to a business!
6. Keep the promises you make:
Honesty and transparency give credibility to your business. Customers love when they associate with such stores with no hidden costs or dubious sourcing. If you are offering organic products, make it clear to them that the products are organic. The prices you display should be the prices they pay. Additional charges during billing are one of the most annoying factors that drive away customers.
7. Associate with a cause:
This has become quite a factor as many brands are adopting this strategy. The new world is sensitive to various issues. If you become the image that promotes a particular cause for good, customers will find that appealing about your brand. By buying from your store, they will have the feeling that they too are contributing to the cause. This sense of self-satisfaction which most of us seek to derive can ultimately turn into your profit.