Effective Customer Retention Strategies Your Business Should Adopt
Many businesses typically focus on acquiring new customers instead of retaining their existing ones. However, research shows that the average American business will lose 23% to 30% of its customers every year due to a lack of customer loyalty. Indeed, consumers are always bombarded with enticing adverts designed to convince them to try other products and services. Therefore, it is prudent to implement robust customer retention strategies that give them enough reasons to stay. Below are some client retention tactics to consider using in your business.
- Invest in business continuity
It is no secret that disruptions to your business operations can render you unable to serve your clients. For instance, accidental damage to your IT network, data loss, internet outage, bad weather, and natural disasters can affect your operations and make you lose clients to competitors. Therefore, it is prudent to take business continuity seriously to ensure that your business continues serving clients when the unexpected happens. You can develop a great IT continuity business plan that specifies how you will continue meeting obligations in the event of interruptions. This way, your business can keep clients satisfied and lower the risk of losing them to more prepared competitors.
- Offer excellent customer service
As per a 2017 study, 8 out of 10 consumers are so frustrated by poor customer service that they are willing to pay more to enjoy a better experience. Clients will quickly leave your brand after just one bad experience, so it is vital to make your brand client-centric and offer top-notch customer service at all times. Fortunately, you can take your customer service to the next level by offering multiple contact channels so clients can reach you in various ways. Also, offer a consistent experience across these channels, ensuring that customers get the same level of care whether you are interacting with them via email, phone, or live chat.
- Deliver pleasant surprises
A 2019 Deloitte study discovered that 60% of long-term customers use emotional language when asked to describe relationships with their favorite brands. Emotions are a big driver of loyalty, so your business needs to explore various ways to generate positive customer emotions. Surprising clients with special offers and exclusive gifts is one of the best ways to accomplish this. You can send your clients birthday gifts to make them feel appreciated and loved on their special day. Handwritten notes also go a long way in making customers feel more connected to your brand. Additionally, you can invite your most valuable buyers to exclusive events and share their social media posts to make them feel recognized, more emotionally connected to your brand and less likely to leave.
- Create educational content
Many experts agree that creating relevant and valuable content for your consumers is essential to retain them, so keep this in mind. Educational content like how-to articles and videos explaining how to use your products engage your clients and remind them of your helpfulness. In addition, it establishes you as an authority in your niche, making existing clients more likely to stick with your brand since they want to be associated with experts.