Customer retention is an important part of every business, big or small, new or old. It is one of the most traditionally known marketing practices that are still being used in some other form or shape. You must also be aware of the fact that retaining customers costs four times less than acquiring new ones. This is also one of the reasons why businesses focus largely on retaining their old customers instead of getting new ones. In this crowded eCommerce arena, each click and conversion means a lot for businesses. Nowadays, they have to spend a lot to attract new customers to their website and it always seems to be increasing the cost. This problem is even more serious for businesses with a tight budget. This is where customer retention rates come in handy.
Here we have presented some of the most effective ways in which businesses can effectively attract consumers and can increase their revenue:
1. Improving customer support
Businesses with great customer support always win. Your business may or may not be offering the best product or service in the industry, but if it has exceptional customer support, customers will always be coming back to you. In their shopping experience, the consumer mostly looks for a satisfactory experience and to do their business with a reliable and trustworthy company. Businesses are always taught to communicate with customers effectively and customer support is the way to do that, If you are honest and respectable to your buyers, you will retain them for a lifetime.
2. Use email marketing to retain buyers
Email marketing may be old but it still proves to be among the most effective marketing strategies there is. This may not work with customer acquisition because unless a person is familiar with your business they are unlikely to pay attention to them and will most probably disregard it as spam. However, if you are using email marketing to keep your current consumer base informed then you may enhance their interest in their business
3. Use customer accounts
Customer accounts are very effective for retaining customers. They are known for invoking a sense of commitment in consumers while also making repurchasing easier, allowing easy access to their order history as well as a wishlist for things that they wish to buy later. All these advantages are bound to make the repurchasing more convenient for the customers and they are most likely to order again from you.
4. Giving discounts and coupons
Everybody loves discounts. They encourage customers to buy more and spend more. By offering attractive discounts and coupons to the customers, businesses can turn them into loyal buyers who keep coming back to purchase more and more. Also, missing a discount also means missing an opportunity to save money for the customers which also encourages them to use the discount and buy something from you.
