Attracting new customers and retaining existing customers are two equally important aspects of a business. Various studies have proved that 80% of the profit comes from 20% repeat customers. How many times have you been told that increasing customer retention by 5% can boost your business returns by around 25%?
The statistics speak for themselves. Many businesses and marketers have understood that retaining customers and inspiring brand loyalty in them is important for the long-term success of a business establishment. However, achieving this is easier said than done.
The following tips will help you get repeat customers and inspire brand loyalty. A survey shows that more than 50% of customers don’t mind spending a little extra if they feel loyal to a business. Imagine the increase in sales and returns when the percentage of loyal customers increases.
Choose the Right Customer
Before planning extensive strategies to retain customers, make sure you segment them correctly. Understand customer behavior and identify the right customer group most likely to bring repeated business. Behavioral, demographic, geographic, psychographic, etc., analytics will help you identify the correct target group.
Businesses can save substantial time, money, and resources by correctly segmenting the customers and targeting groups based on data-driven analytics.
Use Business Texting Services
Text messages are a cost-effective way to stay in touch with customers. Business texting is an affordable and user-friendly marketing and customer care solution for many organizations. It allows you to stay in touch with your customers without disturbing them. Two-way texting services ensure that customers can easily contact you by sending a simple message from their mobile phones. No need to call customer care or visit the store.
Stay True to the Promise
No matter how much you invest in promotions, if you don’t deliver the promised results, you cannot get repeat customers and retain existing ones. Exaggerated claims that don’t match the results will disappoint customers and push them away from the business. We all have our favorite shops and service providers because we trust them to deliver what they promise.
Intense market competition should never be a reason for a business to become fake or cheat the customers. Transparency is always valued by customers. For repeat customers, you need to ensure that there are no hidden charges or complex clauses that make customers spend more than the agreed amount. Tell them what to expect and be clear if you cannot offer a certain service.
Personalization has been an in-thing for a while now. It is set to go to the next level in the future, where just about everything can be personalized to suit the customer’s requirements. From business texts to loyalty programs, products, and services, adopt personalization at various levels and verticals to improve customer service and satisfaction. Small businesses don’t have to invest huge amounts to personalize services. Start with what you can afford and expand over time.
Today’s customers are active on multiple channels. It’s vital to integrate the various touchpoints and bring them together on a single platform. Omnichannel communication allows you to keep track of a customer’s journey across the channels while making it easy for customers to stay connected to your business. A customer might see your business ad on Facebook or send a message on Instagram but ultimately opt to interact via SMS.
Deal with Unhappy Customers
Don’t let unhappy customers walk away from the business. Talk to them and get their feedback. Respond politely to negative customer reviews on the internet and offer solutions. Be empathic and compassionate. The customer needs to know that they are important to your business. Offer a free or discounted deal to unhappy customers and try to implement their feedback. Keep them updated if you make the changes they suggested.
Packaging and Unboxing Experience
Take special care with packing if you have an online customer base. A customer’s first interaction with your products starts with receiving the delivery. Innovative packaging makes unboxing a lovely experience. Customers even mention their satisfaction with packaging when sharing reviews and testimonials. Send them a request email to post a review, and you can get some super happy 5-stars and attractive photos of the product.
Build a Community/ Tribe
Bring happy customers together and create a group/ community for them to interact with each other and the business. Keep your social media profiles active and increase your followers. Post useful information while promoting your business and creating a fun space for people on the internet. Offer exclusive club membership to VIP customers and keep them interested in the business.
TXTImpact is a leading business texting service provider in the US. We work with establishments, nonprofit organizations, and government agencies of various sizes. We have clients from all industries in the market.