Customer Retention
Customer retention refers to the ability to retain repeat customers and increase the lifetime profitability of each customer. A strong customer retention strategy is about maintaining relationships. It is also about creating value for your customers by helping them achieve the goal that they had in mind when they interact with your products and services.
The following are the supports that would aegis the customer retention:
Improve your customer support - A solid customer retention strategy includes attention to the customer pre, mid and post sale. For example, if a customer complains about your product post their purchase, then being proactive in satisfying their needs will help retain them. Also, in the purchase journey, make sure their queries are well attended to, it helps with building brand image.
Send Gifts - Depending on the type of business that you run and your margins, sending a small gift to your best customers can be a great way to surprise and delight your customers. It also reminds them to return to your store.
Handwritten Notes - In a world that runs over the internet, a handwritten thank you note gives a personalized touch that goes a long way with customers. This thoughtful attention is going to help you stand out in an ocean of automated strategies and also enriches the purchase experience of customers. It could potentially create a loyal customer for life.
Run Retargeting Campaigns - Run retargeting ads across channels such as Facebook, Google AdWords, etc., and create a separate customer-based campaign. Include discounts, create urgency, and personalize ad messages in retargeting ads. Retarget them with offers on upsells and cross-sells. Use different tools to target lower funnel audiences - email or pop-up communication.
Recurring emails for FMCG - Customers display specific intent and behavior at different stages of the purchase journey. When it comes to purchasing replenishable items, timing is crucial. For example, a customer may restock his pet food every month, or he/she may re-order the home essentials.
Using real-time marketing automation, you can segment your customers based on these behaviors and send relevant reminders when it is time to restock. Such automation also makes it easy to re-engage those who added items to their cart without checking out. You could then send them a trigger email with a reminder to drive conversions.
Reward Programs - One of the prominent ways to improve retention rate is by giving rewards/loyalty coupons/value coins which can be redeemed by the customer in their upcoming purchase. The idea behind this is that the more the customer spends, the more perks they will receive in their next purchase with the brand.
Whatsapp and Push notifications
CRM tools for WhatsApp and push notifications can also be sent out to the cart abandoners so that they are reminded continuously to complete their purchase with the brand. Specific discounts can be provided to the cart abandoners so that they are tempted to buy. These communications help a lot bringing down the cost per acquisition too and building a brand recall. Keep your customers informed about sales and new arrivals through regular communication.
8. Post-Purchase Engagement - Follow up with customers after a purchase to gather feedback. This can be done through surveys, emails, or social media.