Almost 65% of a business comes from repeat customers. That’s a big chunk of revenue. It’s also cheaper to retain customers than it is to get new ones. Customer satisfaction is greatly linked to retention numbers but there are some strategies to consider on top of this.
1. Offer a loyalty program. I don’t know about you but we love loyalty programs! We love those little stamp cards to fill up so we can get something for free. This may not be the type of service that your brand can offer but think of some fun ways to start a loyalty program for your die-hard customers. They’ll appreciate being appreciated and WOM will increase even more.
2. Build trust. We’ll say it again for those in the back. UGC builds trust with your audience. This will begin a good relationship with them that can be fostered for a lifetime.
3. Personalize their experience. Use data to understand where they are on social media. Shout them out personally. Answer their messages and tags directly. No one wants to get a cookie cutter bounce back response.
4. Ask for their feedback. I personally always fill out the little survey for a chance to win something. Sometimes I actually just do it because I had a not so great experience in hopes that someone will actually take it seriously. I do this more for the brands that I love.
5. Referral programs. Offer incentives for referrals. Again, who doesn’t like to get something for free. All they have to do is put in a little work and share with family and friends. Most will go the extra mile to try to help you to help themselves. This is a BIG one. Your brand will expand while offering a loyalty to those that are already your customers.
There are so many ways to improve customer retention rates. These are but a few but it’s a good place to get started. A happy audience is crucial. Happy audience means word of mouth referrals will increase and so will your reputation and revenue.
