It’s common business knowledge that retaining customers is far cheaper than gaining new ones. It’s not just a little bit cheaper, either; some research suggests that finding new customers costs around 6 to 7 times more than simply retaining the ones you have. How can you retain customers, and how do you make sure you are retaining the ones that earn you the most money? Read on for our top four ways to retain the most valuable customers.
Communication is essential for retention. Sending a monthly newsletter or information on new lines is a great way to keep old customers engaged.
Make sure you have open avenues for customers to leave open and honest feedback. You can do this by allowing reviews on your site or encouraging customers to use sites such as Yelp. You can respond to this feedback; customers love to feel like they’ve been heard. You should also send out a satisfaction survey after a purchase. Customers’ opinions can go a long way toward shaping the kind of business you are, from what you sell to how you respond to enquiries.
When you collect data about a customer such as their email, telephone number and postal address, also ask for their date of birth and use this opportunity to wish your customers a happy birthday. Send out happy birthday emails with vouchers for a tailored shopping experience for customers, making them feel truly cared for.
Saying thank you goes a long away. Rather then simply emailing a receipt and order confirmation, send your express thanks for their interest in your business. Physical services such as restaurants and stores can simply say thanks in person, possibly with a card for larger purchases or investments. People appreciate being thanked for choosing a service, and this can go a long way toward getting them page through your doors or back on your site. If your product or service is top of the range, such as property or global investment, consider saying thank you with an unforgettable gift such as a France F1 Paddock Club package with https://edgeglobalevents.com/f1-paddock-club/france/.
These four simple steps to customer retention could see you save money compared to finding new customers and help you create a sustainable long-term business model.