3 Proven Methods for Increasing Customer Retention

A happy customer is a continuing customer!

For most businesses, 80% of the company’s future revenue comes from 20% of its existing customers, according to the Gartner Group Study.

To celebrate your customers and provide them with all they would need to think of using your business again, you need to effectively engage and encourage them after they have gotten what they need from you.

Focusing on customer-oriented communications can leave a lasting impression that you can see in your bottom line.

 

The Returning Client Breakdown

A 5% increase in customer retention can increase a company’s profitability by 75%.

But the question stands, how can you engage with your customer’s after you ring them up? Here are three tips on increasing customer retention and keeping them happy.

Engage on Social Media

Making sure that the corporate tones are turned down and a personality outshines can allow your followers to really relate to your business. Giving them a voice to connect with, and topics they actually enjoy that still pertain to your business/industry. Your most engaging customers should always get your attention, as any of their positive remarks can be an overall good thing for your social media traction.

Run Customer Loyalty Programs and Promotions

Conducting promotions that pertain to those who have been loyal, you will make customers feel better about supporting your business. You want your best customers to receive special offers such as exclusive discounts, a gift, or even a birthday card that can make them feel like a true VIP client. This will increase customer retention while also keeping those same customers happy.

Newsletter Best Practices

A Newsletter, or E-Blast, is a different platform that can keep you connected with your audience. By keeping the content, images, and call to actions relevant will keep your reader interested in your message. If they are interested then they are most likely to use your services again.

Care about your customers, and let it be known that you do. Listen to what they are requesting, keep them interested, let them know you are as real as they are. Those loyal, emotional, connected consumers will bring others to use and appreciate your product or service. Just remember that you are a consumer too, in one way or another, and the professional bond between you will only make all aspects of your business stronger.

 

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