Once you are all set on your marketing strategy, we move on to customer retention. We want to know the ways on how to retain our customers, how to make them stay and keep them coming back! But remember customer retention is still part of your marketing that helps your business grow.
What is Customer Retention
Customer retention in marketing is the process of engaging existing customers to continue buying products or services from your business.
With customer retention there are benefits to having it and following it. Let’s take a look at them:
Benefits of Customer Retention
The best customer retention tactics enable you to form lasting relationships with customers who will become loyal to your brand. They might even spread the word within their circles of influence.
- More sales
- Refer to other buyers (referrals)
- Brand loyalty
- Builds your brand
- Builds advocacy
Strategies to Customer Retention
Now that we have discussed having a marketing strategy for your business, you also need to have a customer retention strategy. Know how to keep your customers coming back others wise your business won’t grow.
- Offer customer service, surprise them.
- Exceed customer expectations.
- Build trust through relationships,
- Leverage customer feedback surveys.
- Develop frequent communications.
- Measure customer lifetime value.
- Learn from customer complaints.
- Say Thank You.
- Know Your Customer (KYC)
Brand Loyalty is a positive feeling towards a brand and dedication to purchase repeatedly, regardless of a competitors actions or changes in the environment.
Loyalty determinants are:
- Content Markteting
So build your brand, take dedication towards it because it is through your brand that people will notice your business.
Now that we have touched on all the ways you can grow your business through these strategies, always remember the KEY thing is to know your customers very very well and also focus on brand loyalty and your dream!
Let’s take a look at some of the base questions you might be having and having answered them here.
1.What are the base questions to ask your client when looking for feedback?
- As for referrals, feedback/comments on your social media page/ did you enjoy the experience? Is there any recommendations of how to improve your experience for next time.
2.How do you push your products to your clients and follow ups without being too pushy towards them?
- Timing, understanding the way the client uses your product and matching your engagements to the use of the product cycle, know your consumption products, track their frequency of engagements, ask them to fill out a survey.
3.Would it be better to call or text them when asking the question?
- Sms/emailing. It’s less intrusive than calling. It’s also more authentic and easier for the client to trust the source. Calling is used for complaint/issues resolution which requires expediency.
4.Which is the best digital platform for services? And also for products?
- It depends on your market target – their demographics and preference of communication channels. How do they consume media, older generations prefer Facebook/ younger generations prefer Instagram and Youtube. As well as podcasts very well, Linkedin and Twitter are effective.
5.What’s the best way to price your products when making and entry market, and how much profit is enough when having a start up business so that it cushions your service/product provider and client?
- It depends on your cost – manage and cost your product/service properly. Consider your target market and align the price to ability pay.
- Your positioning as a brand will also determine your pricing placement. Be wary of leading by cheapest in the market and selling under the cost because you forgot to price your product properly from the coast level.
6.Messaging being a very important aspect of digital marketing is there a specific structure to follow?
- Keep it simple.
- Depending on the objective of your marketing, use good images to capture the attention, try to use humor or copy that differentiates you from your competition, key items to include must be a way for the client to contact you for ordering / more information.
7.How would you prefer marketing in a marketing institution, since it is a different product?
- Link the POP UP’s to social media using hashtags, doing live streaming, tag and invite people to stream live with you.
- Use POP UP’s as local activations demo your products, create visibility, sampling etc.