Customer Retention - How to do it right

Every company should strive to retain customers. Regardless of how big your company is, or what you do. Having customers return to your business implies that they value your service and/or product. This not only increases your revenue but also helps you establish yourself as a reputable brand. So, how does one improve customer retention and can web stories play a role in it? Well, let's find out.

How to do it right

While every company needs to retain customers, there isn't a one-for-all strategy on how to do so. Every company needs to first grow to understand its audience, and then outline a strategy suitable for retaining them. Luckily, they are certain key points that all successful content retention strategies adhere to. These key points are what we will elaborate on in the rest of our article. Which point is more important is entirely dependent on your company and your customer base. So, try to first grow to understand both before you make any business decisions to implement these points.

Business aspect

One of the better ways to consider customer retention, and the key points that constitute it, is to observe it from two aspects. The business aspect, and the customer aspect. So, let's first address the business aspect of retaining customers.

Put quality over quantity

If you are selling products, it is important to keep in mind that customers will return to you for quality, not quantity. Too often, company owners forgo quality in order to up their production, or lower production cost. After all, by being able to sell more products, they will be able to gain more revenue. While this is true enough, it is also shortsighted. Your goal should be to not only sell products to your customers but also to have them come back to shop for more. And the only way for that to happen is if you can associate your brand with a certain guarantee of quality. Companies that manage this not only increase their customer retention rate but also have a much easier time with branding and marketing.

Offer incentives

In the ideal world, the quality of your products and/or services would be enough for your customers to return to your brand. Unfortunately, we do not live in the ideal world. Instead what you need to do is to offer incentives for customer loyalty. Fortunately, there are many ways in which you can incentivize your customers to stay loyal to your brand. A good option is to offer loyalty programs. Customers can get points every time they do business with you. The more points they get, the more discounts or free products become available.

Another option is personalized offers. Here you take account of customers' purchase history and learn what kind of products they prefer. By knowing this, you can then send them personalized offers as a way to incentivize them to return to you. In a similar fashion, you can send them birthday gifts as a way to say thank you. Another way to go is to offer exclusive content. Set up your company so that returning customers get access to products before they are available to the general public. That way, they will feel valued for staying loyal.

Run an intuitive website

In the modern day and age, it is paramount that you design and run an intuitive website. Especially if it contains an online store. If your customers chose to return to your store, they need to feel comfortable while doing so. And nothing will ruin their online experience like an unintuitive website. So much so, that it can easily lead to cart abandonment. If they need to use Google in order to find a specific product or a blog on your website, know that you are doing something wrong. Your website needs to naturally lead your customers to your products and help them do business with ease. If they need to scroll down for ages or go through numerous web pages in order to finalize their purchase, know that you are doing something wrong.

Create an app

Having an app is a great way to keep people connected to your brand. Through it, you'll have an easier time gathering customer data and reaching customers will offers, updates, and discounts. It is also important to note that if people choose to use your app, they will spend far less time looking at other options. Meanwhile, if they are going business via your website, they will have every indication to compare you to your competitors. If possible, you should look to connect your app with other forms of an online presence. In this regard, in-app stories can be of great help. Social media, emails, website... All these are tools that you can use in tandem with your app in order to garner and maintain a loyal audience.

‍Customer aspect

Quality over quantity, loyalty incentives, designing an intuitive website, and having an app. From a business perspective, these four will be sufficient to improve your customer retention. But, you'll also need to address the customer aspect of the matter in order to ensure that they are actually willing to return to you.

Have a good customer service

Modern customers expect top-notch customer service. Regardless of age, gender, or education. Everyone expects their needs, requests, and questions to be addressed quickly and efficiently. Without it, you'll have a hard time keeping them loyal to your brand, as they'll simply look for someone with decent customer service. The first step in doing so is to acquire decent customer service software. A modern CRM system is your best bet, as it is a robust piece of software that should essentially take care of all your customer service needs. Ideally, you will find a CRM system that is suitable for your industry, as different businesses have different ways of dealing with customers.

Secondly, you need to train your staff. No piece of software can substitute the personal touch needed to calm frustrated customers and provide them with an effective solution. So, make sure to invest in staff training and have an experienced customer service manager run your department. You should also look to provide your staff with ample ways to deal with dissatisfied customers and incentivize them to do whatever is necessary to keep your customers loyal to your brand.

Build a relationship with your customer base

Another important aspect is the relationship you manage to build with your customers. It is important to understand that this is a process that takes time and attentiveness. Firstly, you need to create content that your customers will find interesting and informative. By doing so, you will ensure that they actually pay attention to what you have to say, and to the offers you wish to make. Through your content, you can also show that you understand where they are coming from and that you fully appreciate their needs and wants.

Secondly, you need to make sure that you communicate with your audience on a regular basis. There are plenty of channels you can use for different types of communication. For instance, emails are perfectly suited for personalized content and offers. Social media platforms are great for promoting products, and general announcements. What you want to make sure that is that you respond to any comment that your customers make. That way they will feel appreciated for choosing to communicate with you, which can go a long way in establishing a long-term relationship.

Final thoughts about customer retention

The last thing we would like to point out is that customer retention is not something you can achieve overnight. It is largely based on your reputation and your ability to form a connection with your clients. Neither of those things can be solved in a day. So, once you begin to strategize how to retain customers, make sure that you also set up the right analytics to follow. Then, give your strategy enough time to show results and see whether you can improve on it.