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Whether it’s a startup business or a long-established company, attracting customers is more challenging than ever. Consumers have countless options to choose from. With the rise of online marketing, mobile shopping apps, social media, and email marketing, consumers see more marketing and advertising messages than in years past when traditional advertising (television, radio, and outdoor ads) was the norm.
As a result, businesses need to break through the noise and establish their brand in a crowded market while meeting consumers’ changing demands and expectations. Once companies capture customers’ attention and earn their business, they need to convert them into loyal customers who return for repeat purchases and promote the brand to others. Attracting and retaining customers doesn’t have a universal solution. However, there are several strategies that businesses like yours can consider, and they are covered in this Balboa Capital blog article. In it, we explain how to boost customer retention.
Provide exceptional customer service.
Exceptional customer service is vital to business success, whether in person, online, or via telephone. Customers who see value in your products or services and receive service that meets or exceeds expectations are likelier to become brand advocates. Providing good customer service is something that every employee at your company should prioritize. Consider incorporating customer service protocols in an employee training program to ensure your team delivers top-notch service. This may also be included in your employee onboarding program.
Provide your employees with the skills and knowledge they need to handle customer inquiries, explain the benefits of your products or services, and resolve issues. Equally important, remind your team that every customer interaction needs to be professional and supportive. Showing customers a positive attitude at every step of the buying process is advantageous because, in some cases, it results in repeat business.
Ensure consistent quality and reliability.
Another way to boost customer retention is for your business to maintain a high level of quality and reliability in the products or services you sell. When customers know they can rely on a product or service to meet or exceed their expectations time after time, they are more likely to return and, equally importantly, recommend it to others. So, consider implementing quality control measures, regularly inspecting your products or services, and modifying them when needed.
Next, your employees need to understand and adhere to your company’s quality standards. This starts by providing them with the employee training and necessary tools to help them produce high-quality work. Finally, regular team meetings and updates can ensure everyone is on the same page regarding quality and reliability.
Read online reviews of your company.
One of the best ways to find out what customers think of your company is to read online reviews from actual customers. These reviews help you better understand the strengths and weaknesses of your products or services and highlight any recurring themes in customer feedback. Pay attention to positive and negative reviews. Positive reviews often highlight what your customers like the most about your brand, such as product or service quality, value for the price, and customer service.
Conversely, negative reviews provide insights that help you pinpoint areas requiring improvement. Many customers point out recurring issues in their online reviews that the company’s owners or employees are not aware of.
Ask for customer feedback.
If your company meets or exceeds monthly sales goals, it can be tempting to feel that everything is on the right track and that no further action is needed. However, this perspective may lead to missed opportunities for growth and improvement on top of what you are already achieving. On the other hand, if you experience a decline in sales without a clear explanation, you should find out the reason(s) why so you can correct them if needed. In either situation, gathering feedback from your customers is highly beneficial.
By asking your customers about their experience with your company, you can gain valuable insights to help enhance your product or service offerings and address any concerns. Some ways to gather customer feedback are through email surveys (for customers who have permitted you to send marketing-based emails to them), website surveys, or printed feedback forms. Keep your survey short and focused to ensure customers will complete it without feeling overwhelmed.
Ask customers to rate their experience on a scale (e.g., 1-5, with 5 being excellent) and provide a section where they can share their thoughts on improving your products or services. In addition, ask customers how they perceive your company relative to competitors. By actively seeking customer feedback, you can learn what improvements need to be made to increase customer satisfaction and retention.
Actively market to your existing customers.
When customers make their purchases and go on their way, the brand experience is not over. How your company interacts with them can influence whether they will return to buy again. Follow-up communications, such as email marketing, special offers, and loyalty programs, can help reinforce the customer-brand connection and drive customer retention.
One way to streamline these tasks is with a customer relationship management (CRM) system. A CRM system has lots of data about your customers, including their purchase history, call history, and customer service interactions. Having this information in a central place, with various marketing tools built in, allows you to create and send personalized emails with special promotions and offers. Ensure email communications comply with the CAN-SPAM Act and enable recipients to unsubscribe from future messages easily.
The opinions voiced in this material are for general information only and are not intended to provide specific advice or recommendations for any individual.