It is certainly exciting to get new customers. What could be better for a business than converting sales leads into customers? However, most people tend to neglect their existing customers. They prefer focusing their efforts on gaining new customers. According to research, it can cost up to 7 times more to get new customers than to retain existing ones.
In addition to being cost-effective, customer retention is also a great way to build your brand. If done right, it will turn your customers into ambassadors for your brand. If your customers are happy with your services, they are more likely to refer you to other people. Here are some ways you can retain your customers.
Make the Most of Social Media
It is vital to be in contact with your customers even after the sale has been made. Social media has provided many opportunities to engage with customers. This helps in creating trust as it shows a personal side of your brand. Use social media to track the interests, motivations, and opinions of your customers. Identify your most loyal customers and reward them accordingly.
Social media has become the go-to platform for customers to voice their opinions. Consumers use it to seek answers to questions, register their complaints, and resolve service issues. This means you will come across negative comments about your brand on social media streams. You should strive to change such perceptions by addressing these concerns. Use social media to let your customers know you are listening to them and that you care about them.
Social media has become more important in our world today than at any other time in history. Use MetroNet Fiber Internet to make the most of social media.
Stay in Touch and Encourage Their Interaction
Being in contact with your customers is an effective way to retain them. Communicate product updates, reward schemes, promotions, or any other useful content to your customers. Ask your customers to share their experience of using your products and services. This will encourage them to engage with your brand on social media forums.
Anticipate the challenges they may face in the future and provide solutions to face those challenges. Reach out to notable customers if they have suddenly stopped purchasing from you. This may not result in immediate sales. However, this will allow your brand to be on top of your customers’ minds.
While it is important to offer high-quality products to your customers, it is equally important to complement your products with great customer service. 70 percent of purchasing experiences are determined by the way people feel they are being treated. So your customer service should focus on comfort, friendliness, and familiarity.
Your customers should view your brand as an accommodating and friendly partner. Use social media analytics to customize sales offers based on actual consumer behavior. Don’t allow these decisions to be clouded by general predictions based on demographics or personal perceptions. Make a concerted effort to make your loyal customers feel special. Remember their names and reward them with special offers. You should also try to seek their feedback to make them feel important.
Your brand will fizzle out if it faces reputational issues. If you are ever unable to fulfill customer expectations, admit where you have gone wrong and apologize. People appreciate honesty as it creates an image of authenticity. Owning up to your mistakes and apologizing will not lower your stature. It will also let your customers feel you are willing to make corrections and prevent mistakes in the future.
Retaining existing customers is far easier than attracting new ones. There are few things worse for your business than a disgruntled customer. Selling great products alone will not help keep your business afloat. Provide excellent customer service to ensure you retain your customers, just like MetroNet.