Customer acquisition is crucial to revenue growth, but if you keep losing your customers, then the cost of acquiring new ones will reduce your profits by a huge margin. If you were to ask us, customer retention gives you a better chance of growing your revenue sustainably.
Returning customers will keep bringing revenue, and it won’t cost you much to keep it that way. What’s more, satisfied customers will instinctively get you new customers for your business with constant referrals.
This article provides the best tips for enhancing your customer retention capabilities. Let’s dive in!
Use software to make your work easier
The greatest boost that you can give your customer retention strategy is the use of the right tools. There is a vast assortment of software solutions that you can use for this purpose, but comprehensive software solutions deliver the best results.
Consider using eCommerce customer retention software solutions like Cleverbridge to boost retention rates and expand your customer acquisition efforts for revenue growth. That way, it will be easier to achieve the perfect balance between growth and profitability.
Make good use of email campaigns
When used correctly, email campaigns can make your customers feel valued. “How?”, you may ask. It’s quite simple. Send them compelling promotional offers and discount codes via email.
Make sure not to present the same offers to the general market, so that your existing customers can feel special. This promotes brand loyalty and makes it likely for such offers to convert. You’re also more likely to get more referrals.
Take advantage of SMS marketing to enhance communication
SMS is becoming an increasingly effective channel for customer communication, at times yielding even greater effectiveness when compared to email marketing. Translating this in terms of numbers, SMS has roughly a 42% read rate, while emails score 32%. The opening rate of SMS is also higher at roughly 98% compared to 20% for email.
Even more surprising is the fact that only about 15% of companies use SMS marketing in their strategies. So why not take advantage of this less saturated marketing method to stay ahead of your competitors?
Prioritize good customer service
If only you knew how much a good number of companies struggle to offer good service to their customers, you would take advantage and stand out. Your customers will feel that you value them when you serve them well, and they will appreciate the joy that they get from interacting with you.
Follow up with your customers
One of the most effective good old tricks when it comes to increasing your customer retention rates is following up with your customers. When someone buys from your eCommerce store, you may be tempted to end the contact that you had with them at that point. But that should not be the case.
Communicate, and keep communicating. Send them emails regarding their purchase. Ask them if they liked the shopping experience, and whether they are enjoying the product that they purchased. Seek their feedback, and if you can, consider offering incentives such as discount codes to those customers that take their time to give such feedback. When customers ask questions, be fast to answer them. Create a bond, a strong bond, with your customers.
There you have it
After reading this article, you are a step or two closer to perfecting your customer retention strategy. The secret to doing that and more is to keep working on your strategy and using the right tools.
At Cleverbridge, we offer you just the right solution to boost your efforts. So make sure to get in touch with us to learn more and get started on your journey to customer retention success.
