How can you increase your customers retention rates?

How to improve customer retention rate for your business

For small businesses, retaining customers is an incredibly important part of growing a sustainable business.

We are in the business to earn and keep customers.

According to research from Harvard Business School, increasing customer retention rates by 5% increases profits by 25 to 95%.

What is the meaning of customer retention?

It is how well you keep your customers over a period of time.

Retaining an existing customer is actually cheaper than acquiring a new customer. So how do you improve your customer retention rate?

For you to increase your customers retention rates, consider the following

Position your brand

Have a clear way of communicating and engaging with your customers for them to pay attention to you.

Market to your customers AND educate them too

For customers to do business with you again and again, you market to them and educate to them too. Becoming the “go to” place for answers is an integral way of creating customer loyalty.

Deliver surprise

This will keep your potential customers come back. They will always choose you at any given time. Surprise does not need to be costly discounts and specials. It can be giving something extra that was unexpected. A card in the mail, a $5 Starbucks card, or some form of recognition.

Provide timely customers support.

Use the channels that your customers mostly prefer when offering support online and remember that speed is secondary to quality.

The tactics above should give you some ideas for approaching customer’s retention.

Learn more here..

Download the eBook: The 7 Fundamentals of Being Found Online

 

Related Posts

How to take care of negative reviews on your products Do you get negative reviews on your product or service? How do you deal with them?It may feel strange but sometimes negative reviews isn’t a bad t...
The Importance of Keyword Research in SEO, Inbound Marketing, and Lead... The Importance of Keyword Research Once upon a time, keyword research was very important to getting your Inbound Marketing efforts started quickly. W...
Measuring Local SEO Marketing with Google Analytics Google AnalyticsMeasuring local SEO marketing results is a key task (set of tasks really) in your overall inbound marketing effort.This post desc...
How to keep your sales funnel full with marketing automation With such high competition in the market, for small businesses to keep their funnel full is really difficult. Online marketing trends come and go but ...
Why Are Your Google Pay per Click Ads Only Marginally Effective? 94% of Users Select an Organic Search Result This is the conclusion of a research study that analyzed 1.4 billion searches conducted by 28 million pe...

Leave A Response

* Denotes Required Field