What is Customer Retention & Why is it Important:
Customers are the central-most important asset any business has. Customer retention refers to the company's ability to turn customers into repeat buyers, preventing them from switching to competitor brands. For example, mobile phone users look for essential factors like network connectivity and quality coverage. Any dissatisfaction on these fronts and consumers might port mobile numbers to a different operator.
Customer Retention Strategy:
Repeat shoppers contribute substantially to a brand's profits, and an existing customer is more likely to purchase from the same brand again than new buyers. Retaining its customers using different retention strategies is vital for an organization. Aspects such as offers and discounts, lower shipping/delivery charges, multiple payment options, user-friendly apps or websites play a crucial role in a strong retention strategy.
Some Ways to Retain Customers:
Once the quality of your products and overall service please a customer, the groundwork is complete. Great products coupled with a top-notch service ensure happy customers. Such patrons not only become loyal customers in the long run but also tell their friends and family about it. Free word-of-mouth publicity is indispensable for all brands, large or small.
6 Strategies to help retain customers:
- Be Authentic to Build Trust
In a world full of competition and marketing, customers prefer brands that are authentic. Be consistent in maintaining that unique edge, and you will have a reliable fan base.
- Set Service Standards and Abide by them
Response time, empathy, and efficiency play vital roles in an organization’s service standards. With many choices available in today’s competitive markets, low service standards may compel customers to leave.
- Open Communication Channels for customers
Customer feedback is the best, most valuable way to know and understand what is or is not working for your users. Gather feedback, take surveys, and evaluate a way to work on it. Personalize interactions by offering omnichannel communication options to users.
- Invest in Team building
Regardless of their position, all employees should treat customers/clients in a formal yet polite and friendly manner. Build strong skilled teams and enforce company values.
- Transparency Might Help
Address customer complaints or issues without any bias and resolve them as quickly as possible. In case of a potential wait time, notify the customer of the action timelines.
- Incentivize Loyal Customers
Customers appreciate rewards for their loyalty and are motivated to continue buying from a brand they trust.
Re-Design Your WebsiteThe first way that you might consider boosting your impact on a digital landscape is by renovating the design of your website to be easily navigated by, and particularly engaging, too, new customers who are being funneled toward the site.
This can be done by an in-house team or through the commissioning of experienced web-development professionals.
Of course, both options have their merits, and both have drawbacks, so ultimately, it is worth weighing your choices yourself and making an informed decision.2.
Optimize Your Website for Mobile UsersIn terms of redesigning your website, it could also be highly beneficial for you to update and optimize your website so that it displays properly on mobile devices.
The overwhelming majority of today’s searchers will be on their phones or tablets as they browse the internet, and that means by ensuring your website is ideally designed for such searchers, you will widen your potential customer pool.3.
Invest in SEOSearch Engine Optimization (SEO) is a brilliant tool for gradually improving the search engine performance of keywords connected to your business, which means that by engaging with SEO you are, in time, producing more and more interest in your company simply by making it more available.
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Though some doubted it would ever get off the ground in the wake of the Covid-19 pandemic, the 2020 Tokyo Olympics finally managed to happen, albeit a year later than originally scheduled.
Sporting events like the Olympics has taught us that a few inches, split seconds, and even being the slightest bit off your game can mean the difference between finding yourself on the medal podium or ending up with a long plane ride home.The same is true when it comes to brand building.
Brands have been spending the majority of their marketing budget on big, wide catch nets like Facebook advertisements, billboards, direct mail campaigns, and retargeting ads.
But it’s only a piece of the puzzle, and one that is becoming increasingly antiquated in a consumer base that is looking to assign their allegiance to brands that go deeper in their efforts to personalize their customer experience, and create a memorable, satisfying engagement every time.In the past few years, there’s been a shift in the way that we want to purchase, browse, and make informed buyer decisions.
In fact, it’s become so popular to eat Oreos with milk, that it has become a night time ritual for many families, an after school “How was your day?” moment, a way that friend’s bond together at slumber parties, etc.The Oreo brand found a way to not only brand their sandwich cookie, but more importantly, they found a way to make a moment in someone’s life marketable.
The top 5 routes will help to Create Memorable Brand Moments for Your Customers 1.
It is something that depends upon situations, which means that an individual may feel confident in one situation but lack the same when put in a different situation.
It is absolutely possible for us to come across a person with high self-esteem and low confidence, but a person high on self-confidence is always said to have a healthy level of self-esteem.To know more Please read - https://www.betterlyf.com/articles/self-esteem-and-confidence/ways-to-increase-your-self-confidence/
