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Customer Retention Strategies for Challenging Times

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You do a lot when it comes to building awareness around your brand. Whether it’s digital ads, organic social media, or even giving out samples in person, there are a lot of things that go into getting new customers to recognize your brand.

Customer Retention Strategies for Challenging Times

But what about getting them to stay once you’ve got them interested? Customer retention is just as important, if not more important, than getting your name out there in the first place.

Why? Because if customers are coming and going quickly, they aren’t making purchases. You need to provide them with a reason to stay! After all, it’s common for a big chunk of sales to come from existing customers. That’s what makes customer retention strategies so important – especially during challenging times.

Customer Retention Strategies that Work

Rather than waiting to see if your customers will stay loyal to your business all on their own, it’s important to get ahead of the game. Challenging times only get more challenging if your customers aren’t sticking around. So, regardless of if you’re currently experiencing a challenging time, or preparing for one, you need some robust strategies on your side in order to be successful.

Check out our tried-and-true list of customer retention strategies to help you do just that!

Create Relationships

Sounds pretty self-explanatory, doesn’t it? The truth is you need to create real connections between you and your customers in order to be successful. Those connections help to develop trust which is ultimately what customers are looking for when it comes to choosing a company to buy from.

Give them a good experience and show your commitment to that good experience. Your efforts are sure to go a long way.

Use Automation to Your Advantage

Use Automation to Your Advantage

Automation can be incredible for keeping your customers engaged. Especially since doing it manually isn’t usually attainable.

You might use automation to re-engage your customers after they have already had an interaction with your brand. You could use email newsletters or something like automated text messages. Setting these communications ahead of time allows you to ensure you’re connecting with your customer without having to interact with each and every one of them individually.

Try Out Customer Feedback Surveys

Customer feedback surveys are one of the best ways to get a feel for what your customers are thinking and feeling when it comes to your business. This not only helps you to understand them, but also to build your relationship with them. It shows you truly care about them and their opinion.

Always Overdeliver

When it comes to the promises you make to your customers, you should always meet or exceed those promises. If a customer is to become dissatisfied because of an under delivery, they’re likely to share their negative experience with others.

The best way to think about it is to under promise and over deliver. That way you’re going above and beyond what your customer expects from you and helping them to have a fantastic experience.

Measure Customer Lifetime Value

You likely consider your customers your biggest asset which means customer lifetime value is something that’s going to be important to you. Customer lifetime value shows you the true worth of your customers over a certain amount of time.

For example, if you are to charge a monthly fee, then your real concern isn’t going to be about getting new customers, it’s about retaining them. You’re going to be focused on the customers who are making purchases from you in the present time.

Some customers might have more value than others which makes their lifetime value higher.

Listen to Complaints and Learn from Them

No one enjoys listening to a customer complaint, but it really is an opportunity to learn and improve. Instead of shying away from those pesky complaints, take them in and use them as an open opportunity to get to know what might not be satisfying customers when it comes to your brand.

Use Educational Emails as One of Your Customer Retention Strategies

Education emails are a customer retention strategy that works. They can be a huge help when it comes to training your customers about your business.

Emails allow you to keep in touch and keep up your relationships. They also allow customers to build trust in your brand because they’re learning more about it and getting more and more excited to purchase from you. Even if that might not be right on the day the email was sent out.

It’s all about building long-term, meaningful customer relationships.

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