As 2020 continues to roll by, it’s crucial for brands to brainstorm and incorporate customer-retention strategies that keep customers loyal. Your customer-retention strategies should grab sales not only for the moment, but also for years to come.
This is easier said than done—we know.
After all, we are still facing turbulent times. And these events have largely impacted various industries, including the business and marketing world. Still, there’s no excuse to keep your previous customer-retention strategies the way they are. You must create value in your brand in order to fuel interest and engagement with your customers. Shakir Akorede from Forbes says it best: “You can’t retain customers without first bringing value to the fore, which comes by understanding a critical need of a specific market and stepping in to meet that need.”
Here are 5 top customer-retention strategies that build long-term engagement:
1. Focus on user experience. Since the start of the lockdowns earlier this year, more people are online than in previous years. In fact, according to Statista, as many as 4.57 billion people are actively using the Internet. As such, your brand needs to be able to meet the demands of your customer’s behavior so that they are enticed to come back. Remember that sixty-six percent of consumers would continue to buy from a preferred brand, even when that brand goes against a more innovative competitor, according to Edelman.
Many customers love shopping (even online) but they want it done as quickly as possible. It’s for this reason that online ecommerce sites like Amazon have been able to amass tons of revenue in the last few months. These companies are meeting the expectations of their customers by enhancing their user experience. Consider implementing such tactics into your brand’s website such as single sign-in, mobile optimization, and improved search features.
2. Follow up with customers for online purchases. A great way to encourage customers to return to your brand is to follow up with them after a sale. Since many users are shopping online, make sure you follow up after every online purchase. Include a personalized feature like a thank you message and an incentive like a reward or discount. Using this type of customer loyalty strategy can promote customer feedback about your products and services, which allows you to improve your service experience.
You can combine customer feedback with the findings on your analytics tools. This can help you discover any noticeable patterns and identify areas of improvement. Once you have collected the needed data, address all problems and concerns as soon as possible. You can then announce the changes made to the overall customer experience across all social media channels and your website. Sharing your brand’s progress publicly can entice potential customers as well your current ones.
3. Add a subscription or membership feature. It’s no secret that new and loyal customers alike enjoy exclusivity. And by exclusivity, we mean access to exclusive content and products such as events, promotions, and discounts. Customers enjoy experiences that are made with them in mind. By creating these types of experiences, you can increase the likelihood of customers returning to your brand for long-term.
One of the ways to accomplish this is a membership or subscription option to your business model. Consider what features or features you can offer to your customers throughout the entire year, especially during the holiday season. With your membership feature, you can also include a small fee that allows your customers to enjoy free shipping, promotions, and discounts.
4. Provide additional value to products your customers buy. You will want to keep customers by adding value to your products. You can push impulsive buys by including sale promotions into your strategy. Make sure to use social media and text to generate excitement and anticipation for the news of these sales. You can also use this strategy to help your brand—you can review what products or services create the most interest in your customers.
5. Improve your brand’s delivery options. Try to increase the amount of delivery options you offer for online ordering to help improve your customer’s experience. You can look to Amazon as an example. The site offers special delivery options like free one-day or two-day shipping as part of their Prime membership feature. By offering similar services, you can maintain your customer rate and even increase your conversions. Online shoppers may also feel inclined to shop at your website more often.
When it comes to customer-retention, your overall goal should be to build strong customer relationships that last a lifetime. An effective customer-retention strategy ensures that your customers will return not just once, but throughout the year. And this is a win for you as you can sustain a stable level of revenue for your company. You’ll also likely add new customers looking for a shopping experience that places their needs first. These 5 customer-retention strategies enable your brand to respond to the ever-changing consumer and market needs. It will also make way for flexibility—a key trait that’s highly needed as the world pushes through the unpredictability of 2020.
COVID-19 pandemic has impacted everyday life and industries worldwide. Read our white paper, SMB Survival Guide COVID Edition to learn more on how you can make the most of your marketing during the current health crisis.