4 Easy Ways to Improve Customer Retention

When it comes to growing your business, your best source of new opportunities is your existing customers. They can refer your products or services to people that they know and provide a steady stream of income through repeat purchases or subscriptions. Without investing in customer retention, you risk losing valuable clients to your closest competitors. It will take some time (and even more money) before you can convert new customers to make up for the loss.

In addition to that, your reputation hinges on how well you treat your customers who could end up leaving negative reviews to voice out their dissatisfaction with your brand. Nurturing customer relationships is just as important as any other area in your business. Here are five ways to help you build a loyal customer base that will become your business’s biggest advocates.

Reward them for accomplishments

One way to keep current customers wanting more from your business is to give out incentives for every milestone they reach. Whether their subscription to your service has reached a year or they have made bulk orders for the first time, consider giving something in return such as a discount voucher or freebies. Rewards such as these lets customers know that you appreciate their continued trust in your brand.

Streamline your customer service channels

Responding to customer questions and complaints no matter how complicated is vital to keeping customers happy. If your customer service department isn’t doing its best to handle even minor concerns, then you are setting your business up for failure. To ensure that your customers get the level of care they deserve, consider broadening the number of customer channels you are using. You wouldn’t want to rely on email alone, so encourage customers to send their concerns to your social media pages. If your business has a hotline number, make sure it has a Verizon landline call forward feature so your customer care specialists can work fast in resolving their concerns.

Ask for their feedback through surveys

Customer feedback is crucial in knowing if your business is falling short of your market’s expectations. In particular, surveys can help you track consumer sentiments so you can make improvements to the experiences of future customers. You should treat negative reviews as learning lessons and come up with new ideas for improving the way you engage with first-time customers. Taking the time to ask people what they think about your product or service is a requirement of innovation.

Invite them to events you are hosting

Why stop selling and upselling when you can enhance your relationship with customers by inviting them to the industry events you are organizing? Let them experience a sense of exclusivity by offering discounts and other event perks. You just need to choose an event that brings long-term value to attendees. Look towards organizing a webinar or a product unveiling where existing customers can get a firsthand look at upcoming offers before everyone else.

As the lifeblood of your business, existing customers play a significant role in your growth and success. Focus on keeping them happy and your business is guaranteed to thrive.

Image source: