Customer Retention is more important every year
The internet has helped companies market their business to a wider reaching audience. However, it has also resulted in more online businesses being set up and levels of competition being at an all-time high. With 2019 looking set to be another record year of online buying, it’s essential your business looks at customer retention.
Retaining Is Better
According to the Marketing
Donut, retaining an existing customer only costs
around 10% of the price of acquiring a new one. Therefore it makes a lot of
business sense to hang on to the shoppers you have rather than constantly
trying to attract new customers.
Businesses are now operating in a highly competitive and constantly evolving marketplace, with customer expectations rising at a significant pace. Internet users have become increasingly aware of the advantages of shopping around, especially with the growing popularity of comparison websites. As a result, improving your customer retention rate should be one of your marketing priorities for 2019.
If you want to retain your customers, don’t let them forget about you. Keep in touch with them regularly (although don’t hound them either) with news, offers and handy tips and advice. Don’t just try to sell them something – you need to interact with your customers and provide them with something they need, so keep your sales pitches to a minimum.
Content Is King
This leads on to the necessity of great content when it comes to your marketing channels. Whether it’s on YouTube, Facebook, your blog or an email, you need to ensure your content is engaging and useful. Make sure that people can find your content easily online – using SEO techniques can help achieve this. Or you can contact a Cheltenham PR agency that will help with your content creation, social media and communication with your customers. Most companies understand the importance of public relations but for a true specialist in the area check out options including https://www.targetgroup.co.uk/.
To successfully retain customers, take a step back from your business and look at it through your customers’ eyes. What is the complete customer experience like? From looking at the website to making an order right through to receiving the delivery – are the customers’ expectations being met? Is there room for any improvements? Make sure your company ticks all the boxes for delighting the customer every step of the way. If you don’t, another business is waiting for their chance.