Customer retention is the lifeline of any successful business. The lifetime value of a customer indicates how much you should pay to acquire them. Today we want to discuss the three pillars of customer retention.
Customer engagement should always be the main focus of your business. In other words, you want to be constantly testing the best platforms to communicate with your customers. With unlimited social media platforms, it’s critical to find tools that work best. Once you have the right tools, you can then focus on personalizing the message. In our newsletter Delighted Customer’s Buy More, we share the best tools and strategies for keeping customers engaged. I get a ton of emails on things I don’t care about. Personalizing the message means understanding your customers at a deeper level. In conclusion, you will increase customer retention through targeted engagement.
Customer experience starts when a customer lands on the site and continues throughout the lifecycle. One of the most important keys to keeping a customer is constantly delighting a customer. For example, if you’ve ever been to a Nike store, you can relate. The moment you walk in there’s an assistant ready to help you. Nike store reps always deep knowledge about their current and upcoming products. It takes only a few minutes to find out if they have what you want and how to find it if they don’t. In fact, Nike is constantly partnering with top athletes to produce products that people love. For this reason, Nike is one of the top brands in the world.
Consistency is one of the most important components that keep customers coming back. Notably, Apple is one of the biggest companies in the world. They have built an empire that provides consistently high-quality computers. I know what to expect whenever I purchase a Mac laptop. This high quality and consistent experience keep Apple at the top of mind when I need a new laptop. To summarize, you need to provide a consistent service for your customers.
Customer engagement needs to be a top business focus in order to increase customer retention. Your customer experience is the value that keeps customers loyal. Being consistent builds trust which drives customer loyalty. Build your business for longevity by providing high-quality customer engagement, service and products
Alex Brooks is the founder and CEO of AE Brooks, LLC (d/b/a, Entreprov), a Seattle-based firm that builds custom tools to help businesses increase customer retention and engagement.