Last updated on December 14, 2015
In business, the constant focus is on acquiring customers. Companies spend countless amounts of money on marketing and sales tactics that help them build awareness and convince customers to purchase their products or utilize their services. What some companies either forget, or do not understand, is the importance of retaining those customers that they acquire. Customer retention can be difficult, but it is something that businesses should invest in. Here are some things to consider if you want to retain your customers.
Data is King
Before you can retain your customers, you have to understand who they are. The more information you have about them, the better off you will be in terms of understanding what resonates with them. As you better understand your existing customers, you can craft messages that will help them continue to choose your business instead of your competitors.
Speaking of Messaging…
Messaging is absolutely key as you seek to retain customers and gain their repeat business. In your messaging, use the kinds of words they want to hear. Your messaging can help them feel like they are part of something. Words like “partner” and “exclusive” can be helpful to communicate the fact that they are entitled to certain privileges because they have already purchased from you. Make them feel special as you communicate with them.
Loyalty Programs
One of the most successful tactics in customer retention is the development of a loyalty program. You should reward the people that have purchased from you in the past, so you can keep them doing so moving forward. The last thing you want to happen is your customer switching to one of your competitors. Loyalty programs can provide special privileges, discounts, etc. for those that are already engaged with you. People love to receive special offers and this is a great way to communicate with customers on an ongoing basis.
Don’t Make it About Budget
Many companies are unsure of the effectiveness of loyalty or reward programs. The main reason for their trepidation is budgetary. They do not want to give discounts, especially of margins are thin. However, the money that you will spend to acquire a new customer will be greater than the money you will lose by giving discounts to existing customers.
Customer Service
This one is somewhat obvious, but a critical component to retaining customers is providing excellent customer service. Providing a good customer experience will make your customers want to return in the future. They will want that same experience to repeated in the future. As a side benefit, those that have a good experience with your company will seek to share that with family and friends and on social media. Make sure your staff is trained and prepared to treat customers well, as it will pay off in the long run for your business.
As you seek to retain your customers, AlphaGraphics can help. We provide an array of marketing services as well as printing services in Wood Dale. Give us a call or stop by today.
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