How You Can Build A Great Repeat Customer Base
While we all want as much new custom as possible, repeat custom is where we want to really focus our efforts. Customer retention is significantly less expensive than customer acquisition. In fact, it is thought that as little as a five percent increase in customer retention adds up to a 25% increase in profit.
Repeat customers are an asset that you should be investing in, and here is how you can do it.
According to research, almost half of consumers will turn to a competitor after only one poor customer service encounter. To keep customers satisfied and coming back to you, you must help them solve their problems and answer their questions, even if they are unusual. A customer experience analysis will give you more insight into the pain points of your customers so that you can pre-empt them before they even arise.
Give them an experience that they will never forget
For marketers, brand recall is a critical metric. When a customer sees your message, they should be able to identify and connect your products with your brand. Brands can capitalize on recall by producing unforgettable moments that distinguish themselves, such as distinctive packaging, astute social media posts, or daring marketing strategies.
Give them a wide range of options
Everyone loves to have options. By giving your customers a wide choice in every aspect of their shopping experience from building their own products, to choosing their payment methods, shipping or delivery choices, and additional extras such as wrapping or gift notes, you are more likely to see them coming back time and time again.
Act on any feedback from customers
You must have a consumer feedback system in place if you want to promote customer loyalty. Customer satisfaction surveys are an ideal place to start. Taking note and acting on customer feedback demonstrates to your customers that you are paying attention and genuinely care about their experience. It is also important to acknowledge any concerns as soon as possible. If an issue is brought to your attention, ensure that you acknowledge it and let them know you are looking into it.
Be passionate about local and global causes
Customers are becoming increasingly concerned with the brand values and ethical standpoints of the businesses that they purchase from, and a lack of passion or care about local or global causes can change their behavior. According to a recent survey, around two-thirds of customers make purchasing decisions based on their values. This means that brands can no longer remain impartial; instead, they must back up their principles with actions. Consider donating to causes that are in line with the mission of your company. Encourage your employees to volunteer in their neighborhood. Internal policies should be updated to represent your values. Be seen to be passionate and proactive about local and global causes.
Returning customers come back to you time and time again because you make them feel valued. Of course, discount codes and exclusive offers will tempt people in but what keeps them is the purchasing and overall customer experience that you give them.
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