Ways you Can Retain your Customers
When you want to keep your customers coming back over a period of time, often indefinitely, this is called customer retention. When you retain a customer's business it indicates that your product, service, or brand is pleasing to that customer and they are happy enough for them to stay with your company rather than switching over to a competing brand.
However, before you can focus on the aspect of improving customer retention, you have to take stock of exactly how you're doing in this department. You may have some thoughts and feelings about how that is going, but what you really need is an objective measurement that provides concrete facts.
The best way to do this is to look at the total number of customers for a period of time and add the total of new customers that you got in that time. Then you measure the total number of customers that you have at the end of that period of time. Thus you can determine your customer contention rate.
Improving your Customer Contention Rate
There are a few ways you can retain your customers that are going to work better than others. If your current customer retention rate is pretty low, you can try some of the steps below to improve it.
Improve the Onboarding Process
A smooth onboarding process can provide a positive experience, and first impressions are everything. If your customers had a positive onboarding experience, it's more likely that they will stick around for what your company has to offer in the future.
Keep your Customer Feedback in a Loop
Knowing how your customers feel about your company will help you retain them because you can improve your product or service to meet their expectations.
It's the little things that count, and if you take care of what they like and dislike about your service or product and improve what you offer, you are more likely to retain customers over time.
Promotions and Loyalty Solutions
There are all kinds of different customer loyalty solutions that businesses can engage in to improve their customer retention rate. Mobile app solutions and a host of customer retention tools such as Patron points.com will improve customer loyalty over time as they see that there are rewards for being a good customer.
Promotion and loyalty solutions will do a good job at improving your customer retention rate because your customers will benefit from being loyal directly through the promotion you offered using them.
Combining these different strategies into a comprehensive plan to improve your customer retention rate will help your business succeed and keep your customers coming back for more.
The fact is, people like a positive experience with a product or a service, so much that they will tell everybody they know if they've had a good experience versus a bad one. This creates word-of-mouth advertising, which is the best form of advertising, and it's free.
You can make your business succeed by creating a customer retention plan including loyalty solution products and not only improve your bottom line but increase your overall customer satisfaction, all of which spell success for your business.