Top 10 tips to skyrocket your customer retention
With so many companies craving customer loyalty, how do you make your business’s voice heard in an overcrowded digital world?
Your Customer Retention Strategies Are Everything . . .
According to the Harvard Business School increasing your customer retention by 5% will see your profits increasing by 25% to 95%
How To Do It . . .
According to a 2012 Brand Loyalty survey by Clickfox, customers will come back to you because of:
- Quality 88%
- Customer Service 72%
- Price 50%
- Convenience 45%
- Commitment to social responsibility 15%
- Status symbol 12%
- Other 9%
Brands Who Are Getting Their Customer Retention Strategies Right . . .
20% stated that they could not live without Apple
Other companies that are loved by customers include:
“Holy smokes! What could have occurred just now?! I have used my laser vision to vaporize that poor customer service experience, and have created a coupon for you to help mend your online experience wounds in this troubling time.”
Leading e-Commerce business Zappos’ unique and personalised customer service response emails have gone viral
49% of customers say the best time to win them over and retain their business is during their first purchase or service.
But don’t forget that great customer service is vital – 40% said that they were won over by a company when it resolved an ‘issue’ with their purchase.
Online Reviews Drive Sales
70% of consumers trust online reviews and opinions posted about a business.
Using a trusted online review solution provider could see your conversion rates climb up to 58%.
Keep Your Social Media Channels Alive
74% of customers have communicated with businesses through social media.
But . . .
70% of customer questions posted via social media are ignored by companies.
Keep Your Message Simple
Only 13% of customers felt that communications sent to them by companies were clear.
Keep Rewarding Your Customers
62% of customers believe that companies aren’t doing enough to reward their loyalty.
54% say that they would increase their spending with a company if they were rewarded for their purchases.
But Keep On Top Of It . . .
85% of loyalty programme members hear nothing from a company after signing up.
- The three tenets of running a successful business on- or off-line: quality, customer service and price.
- Collecting and displaying customer reviews communicates customer trust and confidence in your company.
- Study how Zappos and other leading brands are walking the extra mile to keep their customers satisfied.
- Customers are most likely to stick with you based on their first experience of dealing with your company.
- Keep your social media and blogs up-to-date.
To help maximise your customer retention strategies, download our free eGuide: The Pitfalls of Online Reviews