Acquiring new customers is a tried-and-tested route to growing your business – but having a customer retention strategy can also help. Building a network of repeat buyers ensures a steady stream of revenue, while also offering cross-sell opportunities which could generate greater value.
Here are five ways you can begin to nurture your customer relationships to retain more of your loyal buyers:
Launch a loyalty scheme Reward your customers for shopping with you and they are much more likely to stick around for the long term. A simple points-based system, which rewards customers with points for every order, is simple and straightforward. The trick to making the scheme compelling is to ensure you’re offering something appealing to your customer demographic in return for redeeming their points. That could mean vouchers, free gifts, or cash back.
Use your data to personalise offers
Your first-party data offers a wealth of insight into shopper habits, preferences and buying patterns. Use this to create personalised, tailored offers for shoppers. Messages which are delivered at the right time, with relevant deals, incentives and information are much more likely to lead to a conversion.
Commit to superior customer experience
Delivering an elevated customer experience is something that can be easier said than done, but it plays a vital role in securing repeat business. This encompasses everything from offering fast and good value delivery options, to an easy check out process on your website, smooth returns processing and the ability to speak to customer service teams in person, without lengthy delays.
Tools such as adding chat to your website, answering questions via email and social media and diversifying your shipping options all bring additional flexibility to your customers, ensuring they have a five-star experience when dealing with you.
Share useful information
Whether it’s a product guide, care tips or other helpful details, sharing useful information on a regular basis can bring you closer to your customers. Blog posts, eBooks, articles, social media posts and emails are the ideal vehicle for sharing your expertise and adding value to your customer’s experience. These materials are also highly shareable, helping to build your brand and give you a boost on social media and in search.
Encourage and reward referrals
Giving back to your customers via rewards for referrals can encourage your biggest fans to spread the word about your business to their network, and help you grow your sales at the same time. Rewarding those recommendations in the form of a voucher, store credit or cash back provides a great incentive to your customers to tell others of their experiences and means they’re more likely to come back to you themselves in the future.
