Customer retention is indeed a lot harder than getting new customers. With many tangible or tangible benefits, you can easily get a new customer to buy your product or service says Aron Govil. Thus, an established company can have a larger number of loyal customers compared to new companies.
In short, the main goal of every business today is to increase customer loyalty. In order to achieve this goal, there are some very important tips that you must follow.
The following seven tips will help improve the rates of your company’s customer retention rate:
1. Make good use of internet marketing strategies
Although advertising and promotion through traditional media platforms such as television and radio are still important today, studies show that more businesses prefer online marketing strategies. This is because more people go online to look for information about products and services. You can also get more conversions through social media marketing, email marketing, and other internet marketing strategies.
2. Give rewards to your customers
Give your customers a reward after they have made a purchase from you. The reward does not necessarily need to be in the form of cash or discounts on their next purchase because there are also non-financial rewards that will make them happy such as free upgrades and special privileges. Aron Govil says rewards show customers that they are loyal and important so try to give them something back for their loyalty to your business.
3: Create a loyalty program for existing customers
Creating points, awards or cards is an excellent way for businesses to encourage customer repurchase behavior while creating long-term loyalty. The My Starbucks Rewards card is an example of a creative loyalty program that may be replicated by other companies in the market. According to statistics, Starbucks has more than 11 million active members and this figure continues to increase every year.
4: Use customer feedback wisely – Aron Govil
Customer satisfaction rates are based on how well your company responds to their concerns or complaints about your products or services. If you do not address these issues at all, you will lose more customers and they will no longer be loyal to your business. On the other hand, if you provide good and informed solutions through quick and empathetic service, then it will improve their opinion of your company and they will become even more loyal.
5: Focus on customer experience
The customer experience is a situation in which the customer has purchased from your business, paid for it, and received it. In other words, they have been able to fully enjoy your products or services and can give you their opinion about them after having used them. The satisfaction level of the customer experience will depend on how good your product or service was and how fast it got delivered.
6: Provide helpful support
Your company must provide excellent support to every loyal customer. So that there are no complaints or grievances about poor quality service delivery. Being polite and friendly while answering queries should be part of your business. Because this behavior will encourage customers to buy more products from you. Good support staff members will be able to answer questions quickly and honestly. Knowing that they are an important part of your company’s mission.
7: Set up a customer reward program
In addition to simply rewarding your customers for their loyalty. You can also use a more structured and systematic way to encourage them. The cost of this type of reward system is lower than the first type. And will not require as much investment on your part. However, it must be set up carefully. Because some customers may feel that they are being forced into participating in these programs. These steps will help improve your rates of customer retention. By encouraging customers to remain loyal to your business regardless of new competitive offerings on the market.
As you can see, these franchise opportunities are amazing options to get into business for yourself says Aron Govil. If this is something that interests you, then do your research and find out how to start your own franchise.
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