Customer retention is key to maintaining a successful business in any industry. Customer retention starts with clearly understanding your customer needs. In this article, we’re going to focus on three customer retention hacks that can drive more revenue to your business.
Create Experiences that your customers truly value and you will build loyalty. For example, I have an advisor that recently told me a story about an online shopping experience for cufflinks. He went to the site just to browse and noticed some cufflinks he liked. In fact, he decided to buy the cufflinks but forgot to complete the purchase. A few hours later he received an email from the online store reminding him about the abandoned cart with a 10% discount if he proceeded. He went back to the site and completed the purchase. In conclusion, the tool that used my advisor’s data to remind him of the item worked.
Having personalization tools in place can help you automate the customer retention campaigns. Instead of manually trying to reach out to customers that abandoned carts, have a tool that can. As a result, you could recover thousands of dollars by recovering customers that abandon online shopping carts. In our latest download, you can learn 10 customer retention hacks that can drive more revenue. Ultimately you’re going to save time and money by adding such a tool to your business.
Connect with Your Customers
Taking time to connect with your customer through events can be easily overlooked but it’s necessary. For example, Nordstrom has special events for their Nordstrom Rewards Members. Being a member provides you with a wide array of benefits such as discounts on shopping, extra cash back deals and more. But having special events where you meet your top customers can be a great learning experience for you and the customer. As a result, the more you learn about your customer, the better you can serve.
Customer retention is key to building and running a sustainable business. Find ways to create and make the experience personal for your customer. Automate customer retention task that doesn’t require human interaction. Spend time getting to know your customer so you can serve them better. In conclusion, customer retention requires an articulate strategy along with constant testing.