10 Proven Customer Retention Strategies to Boost Profits | Kol Limited
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10 Proven Customer Retention Strategies to Boost Profits

Selling a product to an existing customer is much easier and economical than selling the same to the new customers. It not only saves your energy and resources but at the same time allows you to make even stronger bond with your existing customers. Therefore customer retention marketing plays a very important role in building your business and growing it further.

 

Customer Retention

However it is never easy to retain your customers and engage with them from time to time, motivating them to keep buying from your website and engaging with you on different social media channels

In order to help you out in retaining your customers and develop an even better relation with them here are a few tips which if you can follow will go a long way to help your business grow.

 

1. Understand Your Customers and Segment Them into Different Groups

SegmentsUnderstanding your customers is very important. Make use of the Analytical tools, Surveys and Q and A with the existing customers. Try to understand the different customers and based on the common characteristics divide them into different cohorts. The different metrics for segmenting the customers can be on the basis of the customers who are new to the website, mature customers, behaviour of the customers on different sections of the website, sex of the customers and other such metrics. One of the important things to consider is the ability to detect well advanced in time the decreased interest of the customers in your products.

 

2. Create Communities

Community

Bring your customers together by organising annual conferences. You can also arrange annual or quarterly customer meet in order to discuss their views and expectation regarding your product and organisation and how could you work to improve your services further. These meetings can also be a good opportunity to launch your new products or making new company announcement. 

 

3. Communication Calendar And Customer Loyalty Programs

Loyalty

One of the best ways of retaining a customer is to be in touch with the customer throughout. Email marketing can be a good option for this but before any of those it is important that you have a complete calendar ready for your communications plan. It is important that you send personalised emails from time to time to your customers. The mail can be either an informational one informing about the offers or the new products or can be greetings mail as well. You can also award customers who have been with you for a long time for their loyalty to your brand. Through these maneuvers you can easily retain your customers for a long time. 

 

4. Improve Your Selling Experience For The Customers

Customer Relationship

It should be noted that selling does not mean by any chance that you have to just make profits by selling your products to the customers. It means that you show your existing as well as potential customers that your brand cares for them if they get associated with it. You can build strong customer relationship teams engaging with the customers right from the time of the sale till the time they are using it. You should always make use of the survey forms or Q/A forms for your existing customers regarding the issues they are facing with your products, how they can be improved and assist them to better use your products. This will not only increase your sales but at the same time will make sure that your customer base is gradually increasing. 

 

5. Good Post Sales Service

After Sales Support

Post sales service plays a very important role in order to maintain a healthy customer relationship. It is always easy to sale your products however it’s tough to maintain a good after sales service. Make sure your products deliver to the expectations of the customers and if in case there’s a fault or any other issue which arises after selling the product you have a well trained support staff to guide the customers to resolve the issues. Good after sales services goes a long way in ensuring healthy customer relationship.

 

6. Determine The Content And Offers Which Will Engage Different Audience Types

Special Offers

In order to keep your customer motivated it is important that you keep coming up with different promotions from time to time. Offers and different kinds of promotional opportunities improve the engagement of the different customers and also keep them interested in your brand. 

 

7. Select The Tools And Technologies Which Can Be Used To Engage Customers With A Value Added Experience

Customer Engagement

One of the other ways to improve the awareness and overall sale of your products is with the use of marketing techniques like product advertisement, re-marketing and social engagement. Social media platforms like Twitter and Facebook are good platforms to improve the engagement of the customers. Also you can easily address their concerns and take their feedback for your products.

 

8. Set The KPIs And Goals For The Customer Engagement

KPI

In order to improve the customer engagement it is important to identify accountable KPIs and Goals which are realistic in nature and help us better improve the engagement.

 

9. Offer Personalised Picks and Services

Coupon

On the basis of the customer’s history they can be offered customised offers prompting them to buy new products. Special offers, redeem coupons and checkout bonanzas are some of the options which can be provided to the loyal customers.

 

10. Share Your Growth And Profit

Growth

Sharing your growth and profit with your customers goes a long way in maintaining a healthy relationship with the customers. You can always spend a part of your profit through annual bonanza offers and special discount schemes.

These were some of the tips which can help you a lot in enhancing your customer retention skills and improving your business.

 

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