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Techniques to Boost Customer Retention in 2020

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Hurray, you made it! The person you are running after for 6 months has finally converted into your customer. What’s next? How to retain them? How to keep them engaged in your company services? The answer is either to hire the best digital marketing company or by devising strategies concentrating on improving online customer service. One way to enhance is to use customer support software or live chat tools. Others include strategic planning (discussed below).

Customer retention generates more revenue and involves 5 times less costly compared to acquiring new customers. Moreover, happy customers are most likely to give recommendations i.e. referring to a friend or business partner.

Studies Show Customer Retention Is Important

● 33% of consumers switch to competitor’s products if they face any errors or delays in customer service. (American Express)

● 1 out of 3 consumers is ready to pay for additional service if they experience exceptional service. (Genesys). Learn how our digital marketing services company can solve your problem of customer retention in months.

● Slow response and rude behavior is the major cause of angry or unsatisfied customers. (PWC)

● 32% of clients, if experienced a faulty service, will stop using the product/service on the spot which they admired earlier.

● 75% of consumers depend on online reviews and comparison services (for consumer goods) to know about the company’s authenticity. (McKinsey)

Why do customers leave?

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Techniques to Retain Customers

Resolve Complaints Quickly: Customers give 10 out of 10 to companies who outperform in giving fast customer service. There are many chat support tools. To name some- Intercom, Olark, Hubspot live chat, etc. Some of them also offer automated responses to allow a fast reply.

Organizing Loyalty Programs: Customers who sing about your product for a while have the right to earn some reward. You can do so by offering product discounts, free membership, branded coupons, etc whatever suits your business type. In return, the customer will interact and show interest in buying other services.

Explain Terms and Conditions: Before entering into a contract or service, spend time explaining how your company operates. Let your salesperson devote significant time to understand their expectations from service. Giving personalized sessions can build clarity, leaving no space for misunderstandings. There would be lesser turn-offs.

Conduct Surveys: In the middle of the service, you can reach out to customers to record their feedback on the product/service. Why? Customers would feel privileged when their choices are asked. Plus, they perceive you as a customer-centric brand. Don’t know how to make surveys? Consider investing in our digital marketing services.

Use Email Newsletter: To keep your customer updated about your business, use email marketing. A newsletter is the cheapest source to engage current customers, perceived by the best digital marketing company. Use it to alarm your customer about recent product launches, exciting offers, latest blogs, events, seminars, festive offers, etc.

Using email marketing services will help you target the right customers at the right time without much effort. You can segment your audience and throw personalized emails.

Personalize on Digital Platforms: Customers are all over the internet. Some may be surfing on Facebook or LinkedIn or Instagram or Twitter. Some are more active in emails and messaging apps. So, don’t rely on one digital marketing platform to interact. Discover your customers virtually. Be friends with them and solve their queries on that platform. As a result, they will maintain long term relationships.

● Self-Help Programs: Before reaching out for help, customers want to solve the problem themselves. Creating self-help guides, FAQs, product manuals, How-to-do articles etc, can be extremely useful if you are selling electronics, software, IT products, or any other complex product.

Adopt Different Price Strategy: To hold your customers from partnering with competitors, adopt strategic pricing. No customer would say ‘No to discounts’. Why not include them? Obviously, they bring sales when nothing works. Delight your customers from time to time. Like if you are an eCommerce site, you can offer price drop alert on wishlist products. Same in the case of Software, you can offer 30% off on your CRM to the customer already using project tracking software. As the best digital marketing company, we highly recommend all 8 strategies to give ultimate experience to customers. Keep going!

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