Customer Retention Strategy You Must Know

Planning to lead in the market? 

Let us brief you on the fact that you cannot do that until you focus on retaining your customers.

Plan to reward them and you will be rewarded in doubles!!

There are two aspects in every business. One is customer acquisition and the second, customer retention.

Only a smart and unique Customer Retention Strategy can lead you to the top in the market.

Your brand should be able to style the most unique Customer Retention Strategy which will automatically attract prospective customers. Loyal customers will be the nurturing tools for your business.

However, the only means to win the loyalty of your customers and to retain them for the longest time is The Digital Ground. Believe us or not Customer Retention is not possible unless you give up on the convention methods. Digitalization has made it easier for companies to use multiple tools to keep running in the market smoothly and also build up their advocacy and loyalty via multiple platforms.

Various strategies can be adopted to draft an effective customer retention plan.

• Customer Loyalty Program/Platform:

Omnichannel customer loyalty programs are the best way to gain the loyalty of customers forever. The omnichannel path can be used to keep in touch with them and to offer enhanced services. The program in the market is Scan and Win (QR Code Based) Loyalty platform that ensures instant gratification to customers. Customers can easily scan the QR code via their mobile scanners and win their rewards. This is the top attraction among the brands as of now due to the best results in terms of customer retention, added customer value, decreased operational costs, and enhanced link with customers via digital tools. The program is being offered by Genefied.

• An email with Promotional Offers:

Emails are increasingly being used not only for sharing promotional offers but also for sharing newsletters. Educational newsletters are enough to help prospective customers to make up their minds and purchase your product instantly. 

CONS: Customers tend to ignore the emails whereas on the flip side they also have to suffer from spam emails and fraud offers.

• Customer referral offers:

A marketing tactic to attract customers by the word of mouth by current customers is another customer retention strategy. Hereby, additional discounts on future purchases is being offered by the company if their customers make digital referrals among their contacts. They are asked to share it among their contacts.

CONS: Have to be used in collaboration with other strategies.

• Text Message Marketing:

Nowadays Companies are increasingly using text messages to let their customers be aware of current offers, sales, and discounts. Not only this, the messages contain the details along with the website address to help them. Nurture your existing customers with promotional offers and future customers with a well-organized emailer based upon your services.

CONS: Again, spam offers and spam messages break the trust of customers.

• Building Trust and Brand Authenticity:

To convert your lead into a customer is the most difficult task. However, any prospective customer will be willing to turn into your loyal one if you promise a trusted relationship. This is another strategy that brands are now stepping themselves into. For effective results, you need to focus on the customer behaviour data and use it towards adding value to the product.

It can be done through:

Effective Service, consistency, and transparency. 

CONS: A single bad experience becomes the door to spread the bad word among multiple prospective customers.

• Enhanced communication and personalization:

Brands lose customers due to the lack of the medium for direct communication. Enhanced communication through website chat boxes or 24 hours virtual assistance setup is gaining importance. Social media invites through Whatsapp, and emails are the most common strategy that brands are adapting to reach out to their customers. A communicator calendar can be prepared to help you use the automatic software for sending emails, making phone calls, and sending personalized gifts to customers.

CONS: Lack of interest and keenness on the part of customers to accept the initiation in reality unless there is some reward or discount deal by the brand.

• Addressing the consumer complaints effectively:

Customer is our client and also the means of earning revenue. He can create or destroy your company’s image depending upon his personal experiences. Brands are now using digital means like email and application-based ‘return and Complaint’ Policies effectively. If you fail to deal with the customer’s complaint instantly, you will lose him forever. This has become the pure nature of customers nowadays. 

• Feedback via Customer Surveys: 

Another customer retaining strategy is by taking the customer feedback when a purchase is being MADE. This is the most common idea that is being adopted by almost all industries be it food, food delivery, electronics, etc. This is the most personalized way to connect with the king of the market.

• Easy Return Facility

Many companies and brands have made their return facility easy in order to ensure that the customers’ loyalty can be enhanced via the best services.

Genefied is the topmost strategy designer as far as your Customer Retention plan is concerned. Its Consumer Loyalty platform is flexible and designed as per the uniqueness of each of its clients. Let us help you design the most cost-effective and positive-result-oriented Customer Loyalty Platform.

Scan&Win ensures the maximum analysis of your consumer satisfaction metrics and directs it towards the overall growth of your company. 

Don’t you wish to grab the benefits of 

• Brand Loyalty
• Brand Authenticity
• Brand Goodwill

If yes, contact us immediately.