Customer Retention Strategies That Drive Long-Term Growth
Personalised marketing, excellent customer service including loyalty programmes, fair warranty or return policies and other approaches help businesses to make their online commerce a success. Because of this online commerce’s greatest parameter often goes down to client retention.
Personalised marketing and helpful customer service also facilitate smooth flow of shopping. Thus, personalised marketing approaches, excellent customer care and smooth shopping experiences have positive impact on retaining clients of online commerce.
To summarise, online commerce’s success is defined by good organisation and process, since it has tremendous impact on retaining buyers of online products and services. Therefore, it is important for dedicated brand builders to prioritise personalised approach, outstanding customer care and smooth shopping experience, which will in turn help them to build client’s relation building by raising their brand recognition from their target market.
Retention can also be effectively pursued – through exquisite customer service, which makes customers feel important enough to retain, or by means of in-app surveys that request feedback from those who have churned, so the company understands why.
Personalized Marketing
In the modern economy, consumers increasingly expect firms to know their specific needs and tastes, and personalised marketing can be an effective means of fulfilling this expectation, and keeping customers for longer.
Personalisation means tailoring marketing messages and product recommendations to individual people, using information about customers, developing buyer personas, based on information about buying patterns and user history, taking that information and fashioning campaigns that will reach and appeal to target users. Businesses can use the information to customise campaigns that will appeal to certain groups of users.
Personalised recommendations will make a company more money by making sure its customers buy again and again, or return to its website. Seventy-nine per cent of so-called frequent shoppers cared about getting personalised experiences, according to a report from Epsilon this January. When we talk about personalisation, we tend to mean customisation. And what’s customised is your relationship to something.
Personalised marketing also boosts a brand’s likability by making customers feel ‘seen’ by the brand – for example, when Spotify sends personalised music recommendations based on a listener’s habits, this increases both the prospects of that customer returning and of them engaging more frequently with its service.
Exceptional Customer Service
But a highly personalised experience that delights and surprises customers has now become a bare minimum requirement for any business seeking to retain customers for longer. Beyond bare minimums, great customer service develops brand loyalty, builds customer lifetime value, allows a business to differentiate itself from rivals, amplifies its reputation, and delivers accessible yet unforgettable moments.
A big reason why people churn is because they don’t feel valued as your customer. Maybe they’ve been buying your product or service for years, and you make some misstep or they get courted away by a competitor with a better offering.
To make sure this never happens, use omnichannel surveys to get customer feedback after every sale or interaction with your business. Delighted lets you send NPS surveys via email, link, in-app or kiosk to customers and get customer insight that you can take action on, all while closing the feedback loop with your customer.
Loyalty Programs
Loyalty programmes help your company keep customers for longer periods of time, because you reward repeat purchases from them; and loyalty programmes help identify pain points that exist within the customer journey by offering customers a mechanism to send direct feedback. This feedback can then be used to ensure that products and services offered to your user base are top-notch and cater to their needs.
Earn Better known as ‘air miles’ programmes, these Earn Better known as ‘air miles’ programmes, these schemes award points to customers on a per-dollar basis, and they can then redeem points for discounts or gifts. Customers like this technique because it makes sense to them yet it is easy to implement, and it is a good source of first-party data since you can create members lists from purchase histories. Better. Better. Better. Burn This approach involves rewarding points to customers as they shop and then encouraging them to use the accumulated points as a discount. This is a good type of reward since it provides an instant gratification to customers.
Surprise and delight can be useful to satisfy the drive to bonding and the seeker personality type, helping you create loyal customers who will ultimately become evangelists, helping your brand grow over the long term. Indeed, a Bain Company study uncovered that if you increase loyalty by just five percentage points you can see profitability increases of up to 75 per cent.
Seamless Shopping Experiences
Strive to ensure that customers come back by providing unbeatable shopping experiences, whether in-store, online or socially. This poses a complex challenge that can only be met with a deep understanding of customer journeys, flexible payment solutions and fulfilment of product quality.
Keep the channels of communication open and listen to your customers by sending out surveys, or even hosting an online community for your biggest consumers. It might be wise to consider making these feedback surveys in-app: use your product as a natural prompt to send off a survey, to capitalise on the peak of user engagement.
When it comes to consumers, keeping customers is the best measure of the quality of your product or service – repeat purchasers presumably enjoy their experience with the brand and are likely to recommend your offerings to others. What’s more, keeping a client is almost always less costly and quicker than attracting a new one.
About Author
