Building customer loyalty is one of the most important objectives for any type of business, in any niche or sales channel – be it a retail store, industry, a digital business, etc.
This is because, as we will present in this content, the cost of acquiring customers is significantly higher than the cost of keeping consumers who have already purchased assets from you.
However, it is important to recognize that knowing how to retain customers is not enough. This strategy requires constant and consistent work – after all, even if you maintain a relationship of trust with your consumers, a single mistake can be serious for your chances of retention.
Why is customer loyalty important?
There are several statistics that show how retaining customers is a really important and profitable strategy for business. The American website Annexcloud gathered several studies on this and found that:
- A customer who has already made a purchase has a 60% chance of buying again. In the meantime, a new visitor who has not yet purchased from your store has only a 20% chance of closing the first deal;
- Regarding the reasons why customers choose other businesses, 31% do so because they found more competitive prices in another brand, while 34% abandon companies due to the lack of quality in the service;
- The cost of acquiring new buyers is at least 5 times more expensive than the cost related to customer retention;
- On average, only 20% of all a company’s customers account for 80% of its revenue;
- Despite its tremendous importance and impact, only ⅔ of businesses prioritize customer loyalty.
Taking these statistics into account, it is easy to understand the importance of investing in the relationship with your consumers and doing everything possible to keep them active.
But after all, how to retain customers? Check out 10 foolproof techniques and strategies that you can implement in your business to boost your results and increase the number of recurring sales.
1. Know your target audience thoroughly
It may seem obvious, but the truth is that if you don’t know your target audience in depth, it will be really difficult to ensure that the other strategies and techniques aimed at retention have any results.
Therefore, the first step is to study your consumers, identify their preferences, challenges, as well as assess which are your preferred sales and service channels and which channels consume more information, such as on social media, email, television, among others. media.
Consider determining the Buyer Persona of your business so that you have a solid foundation for your retention strategies and actions.
2. Leverage customer service
As one of the statistics presented earlier points out, the quality of service is really critical to your chances of retention, and you probably already knew that.
After all, what type of consumer will become loyal to a brand that fails to offer quality and excellence in customer service? Especially when the competition is always looking for differentials.
Therefore, be present in the main service channels that your customers want to find, such as through an online chat on your page, on social networks and be sure to optimize your service to offer an excellent response time and delight customers through communication.
Customer service is one of the pillars that support the relationship between your brand and your consumers – so don’t neglect it and really invest so that you can impress.
3. Offer a loyalty program
One of the main strategies related to how to retain customers is to create and offer your own loyalty program.
As the name already suggests, these programs have as main objective to present differentials and add value to the negotiations and sales made.
To exemplify, some types of loyalty programs that you can implement in your business are:
- Points program in which customers can exchange them for gifts, products or even discounts in the next negotiations;
- Discount coupons and special offers offered exclusively to loyal customers;
- Credit and debit card of the store that offers differential payment terms – such as interest-free installments, etc;
- Bonus in the value of freight for loyal customers;
- Accumulated discounts for future purchases;
Essentially, there are several ways to implement a loyalty program – it all depends on the profile of your target audience, as well as your market niche.
Research what your competitors are already doing and look for a way to innovate so that you can stand out.
5. Invest in email marketing
E-mail marketing is still one of the main channels for maintaining an active relationship with registered customers in its base. However, in order to keep it lasting, it is important to segment your customers and consider their preferences before submitting your campaigns.
To exemplify, one of the best ways to get your customers’ attention and bring them back to your page is through reminders about your loyalty program.
Send messages stating that they have points or discount coupons waiting for them to keep your brand fresh in the minds of buyers.
Another good strategy is to inform your consumers whenever a product inserted in your wishlist go on sale, for example.
4. Show differentials beyond price
It is true that the price of your products and services has a major impact on the chances of retention. After all, if you fail to remain competitive in relation to the competition, it will be difficult to keep customers active.
However, when talking about how to retain customers, it is important to recognize that the price alone is not able to keep customers active. This is because other businesses can always present special discounts and draw their consumers.
That is exactly why you should invest in differentials in addition to price, such as the loyalty program or other factors that add value to customer purchases.
So, even if the consumer finds the same product for a lower price in another store, he will recognize that buying from you is still worth it due to free shipping, points to exchange on gifts, etc.
6. Have clear and well-defined processes
As we mentioned in the introduction to the article, being consistent is really important for you to be able to maintain a lasting trust with your customers.
And to reach this level of consistency, it will be necessary to have very well defined and clear processes, as well as to train your service and sales team to maintain a high quality standard.
Also consider developing your sales funnel and investing in CRM systems (Customer Relationship Management, or customer relationship management) to never miss a business opportunity or fail to follow up with a customer.
7. Strengthen your presence on social networks
Social networks are much more than just a digital marketing channel. That’s because, depending on the profile of your target audience, engaging them on social media in a natural way can make all the difference.
You don’t have to be coca-cola to create a successful campaign like #shareacoke, which had a big impact on social media.
Just look for where your audience is, interact with them in publication comments, share relevant content and even invest in a content marketing strategy, create your own blog, share articles on social networks and educate the market.
8. Do after-sales
There is no chance to talk about how to build customer loyalty without mentioning after sales. After all, abandoning the customer after completing the first sale is the exact opposite of the strategy that helps you generate recurring sales.
So remember to include after-sales actions in your funnel and processes. Be sure to leverage the communication channels already covered in this article to keep the relationship active, such as email marketing and social networks.
9. Request customer feedback and ratings
Remember, after-sales can’t just involve offering new products or even just reminders about your affiliate programs.
In order to build a relationship of trust, it is important to show your customers that you care about their shopping experience, as well as their satisfaction with the products or services purchased.
Give your consumers a voice and request feedback and evaluations about your products. Thus, you can identify problems and try to repair situations where the consumer is frustrated with aspects such as shipping, delivery time, or the product itself.
10. Turn customers into promoters of your brand
To finalize our content on how to retain customers in your business, it is important to talk about NPS (Net Promoter Score).
This is a metric that exists to help you calculate the result of a very simple question, but which means a lot about your retention efforts and actions, this being:
“On a scale of 0 to 10, how much would you recommend our company to a friend or colleague?”
The answer can be compared accordingly and calculated with the image below.
The value obtained will be in percentage (%) and, so that you can interpret it in the best way, consider the following classifications:
- Area of excellence: between 76 and 100
- Quality zone: between 51 and 75
- Improvement zone: between 1 and 50
- Critical zone: between -100 (negative one hundred) and 0
So, always try to increase the value of your NPS so that you are at least in Quality zone. This indicates that people have had such a positive shopping experience that they willingly do word of mouth marketing and promote their business.
Learned how to retain customers?
We hope that this article has presented solutions that you can implement immediately in your own business!
And of course, if you want to take the next step right now and improve your customer service, how about installing Websites Are Us for free on your company page to start serving visitors in real time?
Check out our differentials and find out here why it is worth investing in an online chat to retain visitors and increase your chances of conversion.
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