Increasing your customer retention by 5% increases profits for your business by 25%. A loyal customer helps in making a business successful more than a new customer does. It is prime to acquire new customers to boost your sale, but it is just as crucial to protect the customers that have already purchased from you and retain them.
When repeating customer purchases, they spend ten times more than a new one. Why wouldn’t they? They know you, and of course, they trust you if they are purchasing from you again. Besides, it costs seven times more to procure a new shopper than it does to keep an existing one. So, how to do that? How to maintain that trust restitution? Keep on reading to learn the best strategies for the same.
Meet customer expectations of convenience
As soon as a customer walks into your store, they start taking everything in. From the purpose they are here to the reason they should come back again next time, they soak it all in. There’s a reason that first impressions are significant. They don’t just expect satisfaction with purchase but also with their experience. From payment method to store navigation ease to how the employees in the store are treating them, everything matters equally. Make their experience worth remembering, and you have got yourself a loyal customer.
After a person has shopped in your store, they usually lose touch. Reminding them about you from time to time is a great way to overcome that. Via mails, calls, or text messages, keep contact with them. However, the number of messages or emails is always debated upon, make sure you don’t bombard their inboxes. This is also an excellent way to let them know about any sale or discount going on in your store.
Rewarding loyal customers is appropriate to remind them how much you appreciate them. Being sourcing agents in India, we can assure you everyone likes that. Customer rewards in the form of store credit or discount coupons for next time will only bring them back. Some retail stores also use membership programs on a timely basis, like yearly, to keep their patrons coming back.
Use feedback surveys
Not only does this help you in knowing what the customers liked best about you or where you lack, but it also helps in giving off a positive signal that suggests you appreciate what they have to say. You are providing them the option to have a voice for their experience in the store next time as well as allowing you to improve.
Remove issues quickly
This is another opportunity that comes to you if you want to win the hearts of your customer again. If an issue arises and you resolve it as quickly as possible, it’ll retain that particular customer resulting in a rise to word-of-mouth marketing. 73% of the customers choose a brand and remain loyal to it because of friendly customer representatives. Faster service, more loyalty.
Personalize their experience
It’s always a good idea to store customer purchase history because if they do decide to come back, you will have the upper hand here. This one is well established by sourcing agencies like ourselves. You can skip the introduction and cut to the chase. Your customer’s time is precious. If you value it, they will return it.
Using all the above-mentioned facts and figures along with tips and tricks, convert a brand-new customer into a loyal one, refine your relationships with old ones, and watch your business charts grow exponentially.