August 01, 2017

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Simple Steps to Help Increase Your Customer Retention Rates

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Customer retention is one of the most important metrics used to calculate the effectiveness of your marketing strategy. The reason is simple. It costs more to acquire a new customer than keep an existing customer.

You can’t rely solely on new business. Otherwise, you’ll never grow your business. Use these simple steps to help increase your customer retention rates.

Give Your Customers More Than They Expect

The first way to increase customer retention rates is by giving your customers more than they expect. Deliver more than you initially promised. For example, you could include a free bonus or deliver your product or service ahead of schedule.

Consider the expectations that your customers have. This includes the quality of the product or service, the delivery, and additional features. If you can improve one of these areas without increasing your costs, then you’ll be able to give your customers more than they expect.

Establish Trust with Your Customers 

You need to cultivate the relationship that you’ve got with your customers. This comes through the establishment of trust. If customers trust you to always deliver what you promise, then they’ll likely come back for more.

Content can also help establish trust. Giving existing customers access to bonus content, free offers, or PDF guides can go a long way towards building trust. This also helps with the first tip. You’ll exceed their expectations.

Make Your Interactions More Personable

When you engage with customers, you need to be personable. This includes the use of personalized emails and personal responses to their comments.

Depending on the email marketing platform that you choose, you may be able to automatically personalize your emails. Using a template, the software will automatically insert the first name of the people on your mailing list.

You should also encourage your customers to leave feedback. Ask them questions. You can do this through social media or your email marketing. This lets them know that you’re listening and that you care about their thoughts.

When a customer leaves feedback, either positive or negative, you should contact them as soon as possible and address them by their name. Thank them for their feedback.

Deal with Complaints Promptly and Directly Customer Retention

You should never make the mistake of ignoring an unsatisfied customer. When someone’s unhappy with your products or services, your first step should be to learn more about their complaint.

Contact customer, remember to be personable and ask for more details. Use this information to try and find a way to solve their issue. Even if you need to issue a refund or a replacement, you may be able to save yourself from losing a customer. This could also save you from taking a hit to your online reputation.

Make Sure You Deliver an Exceptional Product or Service

The final step to increasing your customer retention rates is to ensure that you deliver a quality product or service. This ties into the first tip. You want to go above and beyond and deliver a great value.

The bottom line is that if you have something of value at a reasonable price people will buy it and they’ll come back for future purchases.

Think about your favorite cereal, shoes, or vehicles. You continue to purchase from the same company because they deliver a quality product. If you can do the same, then you’ll be able to increase your customer retention rates.

Customer retention is an important metric to pay attention to. Use these steps to begin increasing 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.

Post source : JurisTax. (2017). Image of establishing trust: Trust services. Retrieved from http://juristax.com/trust-services.php

Loop, R. (Posted: December 4, 2016). Featured image: The golden ideas of customer retention. Retrieved from http://www.ambamalicanada.org/golden-ideas-customer-retention/
The Learning Shop. (2015). Image of dealing with complaints: Bespoke training. Retrieved from http://www.learningshopbluewater.co.uk/business-solutions/bespoke-training-kent/

About The Author

For the past 2 years Michael Bass has dedicated his time to building an Online Business that gives him complete time, location and financial freedom. The reason Michael decided to start his Online Business is because he wanted to expand his knowledge and continue to travel. Since starting his online business he has traveled all over the world to places like Puerto Vallarta Mexico, and the Canary Islands. His new book An Entrepreneur's Roadmap to Success is his contribution to anyone who wants to have financial freedom in their life. In his book he outlines exactly how he was able to build a successful Online Business. His mission is to empower as many people as he possibly can to help them reach their true peak potential. So, open your mind. . . your journey begins NOW!

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