Overlooked Customer Retention Strategies That Work
A common reason for losing customers is that they’ve forgotten you exist–or think you don’t care to retain their business. Sporadic, generic or irrelevant communication can give your clients this impression. Since new customer acquisition requires much more time and money than keeping those you have, customer retention efforts are especially cost-effective. Use these steps to turn your best customers into loyal customers.
Data Driven Customer Retention Tips
A solid and growing customer relationship requires regular contact, which provides value and shows appreciation. Here’s how to keep your customers coming back:
• Identify your best customers and track activity: Mine the data in your CRM to determine which high-value clients may be losing interest. Look for customers who have not purchased from you in 6 months, or use other, more detailed, criteria that indicates customer interest is fading.
• Create targeted offers or discounts: Make the offers irresistible by using customer data to devise (and properly schedule) relevant offers/discounts. Personalizing offers by name is a basic, effective tactic to get customer attention, increase email opens and more. Also use other customer data points for precise targeting, such as: purchase history, client birthday, frequency of website visits and more.
• Use more valuable offers for special customers: Timely, relevant offers (and/or extremely useful content) develops a closer relationship between brand and customer–making your brand, literally, part of their lives. Use your CRM wisely to capture detailed information about your customer, so that you can target offers most effectively.
• Give special clients personal attention: Schedule contact prompts to appear on your calendar and cement the loyalty of your top customers with person-to-person conversation. When you reach out to customers, add any new information into your CRM to further tailor future offers.
• Seek and track feedback: Make it simple to provide feedback, with a link on your website, customer surveys, post-sale followup emails, etc. Track opinions to help refine your product offering and better target future client communications. Show customers their opinions are valued and acted upon.
If valuable customers’ recent behavior shows they’re slipping away, it’s well worthwhile to keep them if you can. Get help designing your customer retention strategy. Contact Desert Star Commercial Consulting today.