According to statistics, trying to get a new customer will cost you roughly five times more than trying to keep an existing customer close to your company.
Also, a 5% increase in customer retention can lead to an increase in revenue by 50% to 95%. Yes, these are the results for a 5% increase in customer retention!
According to Dana Warrington, Chief Marketing Executive at Besttermpaper “Customer retention is more important than customer acquisition. It’s easier to communicate to and convince a person you already know to buy your product. On the other hand, trying to convince an unknown person to do is it’s a lot harder.”
Now that we’ve highlighted the importance of customer loyalty, here are 10 strategies to improve it.
1. Unique Customer Support
Top essay writing services recommend hiring a customer support officer right from the start. People will always need objective information and advice when buying a product or a service. That’s where the customer support officer comes in handy. Customers can call him or drop him a line and he will deliver the information they need.
2. Deliver What you Advertise
One of the safest ways of closing your business in less than one year is to make sure you don’t deliver what you advertise. For example, if you offer your clients a 24-month warranty, but when the time comes, you ask for extra cash for servicing your broken product, the customer will not buy your products ever again.
So, next time you think about an offer for your customers, make sure you predict its impact on your business.
3. Affiliate Programs
Affiliate marketing is a very efficient way to improve your customers’ loyalty. For various tasks your customers finish they will receive a certain prize. For example, you can offer them coins which can be used to buy your products. Adele Green, Affiliate Marketing Specialist at Ninja Essays says “Customers will always buy products more expensive than the coins they have and they always recommend companies who offer discounts”
4. Give Freebies
Do you want to offer a prize to your existing customers? Do you want to give you competition an example on how to increase customer loyalty? Think about the products your customers like most. Offer a dozen products for free to your customers. Just send them the prize without telling them about it, make them a wonderful surprise!
5. Offer Discount Coupons
Without announcing it, when a client buys a product from you, place a discount coupon inside its package. Wouldn’t you use a discount coupon if you’d receive it from a company you are already in contact? I bet you would!
6. Relevant Vlogs and Information
Nowadays, clients are very well informed. Each time they want to buy a product, they ask for reviews from peers, they Google them and watch Vlogs describing or using a certain product.
If you are selling lawn trimmers, essay writing companies recommend teaching your customers about the best practices when it comes to them. How they should service the products and where, the best method of trimming your lawn, you name it. Just make sure you offer them relevant information!
7. Include Technology
Augmented Reality, Virtual Reality, do these terms sound familiar to you? Then you know how important they are for today’s clients. If you are selling furniture, think about using augmented reality when selling your products to your regular customers. They would be able to open their phone’s camera and see if the furniture they want to buy could fit into their house.
8. Research Your Database
For this process, you can ask for the services of a cheap essay service. They will be able to identify the trends in your customers’ behavior. If they come back each time you offer discounts, then you should focus on that. If they come back each time you add new products to your portfolio, make sure you add at least one or two each month.
9. Hire Account Managers
If you have important clients, big clients, which generate a large portion of your revenues, then you should focus on them. For you to take good care of them, you should hire account managers and assign them these important clients.
This way, they will always have a go-to person when they need a certain product, favor or advice. Clients will always come back to a company which helped them.
10. Get Your CEO to Talk to Them
A very good marketing approach when improving customer loyalty would be to get your CEO to talk to your clients on a regular basis. Even if this might mean he writes them an email or a text message.
Wouldn’t you be impressed or, at least, wouldn’t you come back next time, if the CEO of an important online shop would ask for feedback from you, as a customer?
As we said, if you pay $10 to keep your customers close to your business, you’d have to pay at least $50 to get new clients. First thing’s first! Make sure you keep your current customers close to your business. Only then you should focus on getting new ones.
Watch this space for updates in the Hacks category on Running Wolf’s Rant.
I’m an aspiring marketing writer at Edugeeksclub.com and ResumesPlanet.com. I started out as a business college graduate and ended up working for impressive companies in Europe. I thrive on sharing quality information for both businesses and single professionals who wish to take their marketing game to the next level.