The most important metrics used to estimate the effectiveness of your marketing tool is Customer retention. Just because it costs more to acquire a new customer than maintain an existing customer.
You can’t rely entirely on new business. Otherwise, you will certainly not grow your business. Discussed below are some few strategies you can apply to help develop your customer retention rates.
Give Your Customers More Than They Expect
The main method to increase customer retention rates is by giving your customers more than they anticipate. For instance, you could deliver your product or service ahead of schedule or include a free bonus with your delivery.
Consider your customer`s expectations. If you can improve in one of the areas including the quality of your product or service, delivery, and additional features without increasing your costs, then you will be able to give your customers more than they expect.
Establish Trust with Your Customers
Establishing trust comes through the relationship that you’ve got with your customers. Your clients would be more likely to come back for more if they trust you to always deliver as promised
Giving existing customers access to bonus content, PDF guides or free offers, can also go a long way in building trust. Utilizing this along with the first tip will make you exceed your customer`s expectations.
Make Your Interactions More Personal
When engaging with customers, you need to be personal. This involves the use of personal responses and personalized emails to their comments.
You may be able to automatically personalize your emails depending on the email marketing platform that you choose. Using a template, the software can automatically insert the first name of the people on your mailing list.
Ask your customers questions, and also encourage them to leave feedback. This can be easily achieved through your email marketing or social media. This gives them a feeling that you’re listening and that you care about their customer satisfaction.
You should always thank your customers for their feedback. When a customer leaves either a positive or negative feedback about your product or services, you should contact them as soon as possible and address them by their name to say thank you for their feedback.
Deal with Complaints Promptly and Directly
Never make the mistake of ignoring an unsatisfied customer. Once a customer is unhappy with your products or services, you should try to learn more about their complaint.
Get in touch with them, remember to be personable and ask for more details. Figure out a way to solve their issues, using the information you`ve gathered. Even if it requires that you issue a refund or a replacement, you might be able to save yourself from losing a customer and also protect your good online reputation.
Make Sure You Deliver an Exceptional Product or Service
The last step to increasing your customer retention rates is going above and beyond to ensure that you deliver a high quality product or service to your customers.
The bottom line is that if you have something of value at a reasonable price people will buy it and also return for future purchases.
Think about your shoes, favourite cereal, or vehicles. You continue to purchase from the same company because they deliver a quality product. If you can do the same, then you will be able to build your customer retention rates.
An important metric to pay attention to is your customer retention rate. Always utilize these steps to build this key factor. If you’d like to have access to even more powerful marketing tips, as well as a way to generate conversion-ready Internet marketing prospects each month, click here to learn about my done-for-you system.