In order to thrive and survive in business, business owners will have to embrace a lot of techniques and tactics. Out of which, customer retention strategy is in the topmost of the list as customer retention is far more effective than any other marketing strategies taking into consideration its cost and return of investment.
Nobody wants to lose its customer, and indeed businesses are still operating because they have got customers. Acquiring new customers is difficult in its first place, whereas customer retention strategy if planned and implemented correctly, is a lot easier to have growth in business.
Products, services are important but with the evolving customer behavior, it’s also becoming tougher for brands to make them stand out from the rest.
You have indeed designed and launched a fantastic customer retention loyalty program for your customers. Now, what’s next to boost customer retention through your loyalty program?
Here are a few to consider:
- Let them know the value proposition
You have designed the program on the value proposition that you’re offering to your customers. So, clearly mention to them what value you’re offering to them.
Just throwing stuff at them and hoping they would spend more will rather demotivate your customers towards the rewards program. That’s why you need to figure out ahead what you can offer them and what it will cost you so that you can provide what you have promised to your customers.
2. Build a one-to-one relationships
Digitization and new trends have totally changed the way of communication and raised the bar of customer experience. Even, traditional companies that have not built their one-to-one relationships with customers are now thinking to change their perspective.
It’s very important to engage with the consumer in-between visits and make sure that they come back to your business. Maybe businesses can open up to a lot of access, not just salesperson’s relationship with the customers.
3. Keep them updated (Send-emails/ SMS/ Push-notification)
Never let your customers forget your brand and updates on their loyalty points. Updating your customers about their loyalty balance can fuel their charge to come back to you soon. You can opt to send emails, SMS, or even in-app notification based on your customers.
A simple ‘Congratulation’ after every purchase can boost your relationship you are seeking to build with your customer. It makes them feel appreciated and wanted.
4. Introduce VIP Programs
Another way to improve your customer retention is by introducing VIP Programs. They motivate customers to maintain elite status with your brand and also helps them to get rewards they do really care. Most brands grant VIP status to their repeat business.
This will encourage your customers to do business with you again and again and think of themselves as apart of the brand community rather than an individual customer.
5. Use Data for improvement
It is very important to track how your loyalty program is running and this is possible by analyzing the various reports and data you capture using your loyalty platform. With the data and reports available you can monitor and even plan for your future program and increase customer retention.
Also, segment your customers using various data. Customer segmentation is a great way to boost customer retention. Once you have properly segmented your customers, it’ll be easier for you to customize specific rewards targeted to each segment.
6. Set Referral Programs
Another way to boost your customer retention strategy is to set referral programs. Your customers could be your biggest advocates. So, don’t miss the change to acquire more customers by setting referral programs that will motivate your customers.
People trust their friends, peers over any other kind of marketing ads. Let your customers refer your brand to their friends, peers, family. You may also choose to reward both parties to improve the chance of your sales.
Turning customers into loyal customers or advocates is what every brand wants. The tips discussed above on how to boost customer retention post-purchase will build a strong connection with your customers, and increase sales.
Your customers are your biggest brand advocates, don’t miss a chance to retain them. The post-purchase customer retention strategy will definitely help you improve on the customer experience.