With so many companies craving customer loyalty, how do you make your business's voice heard in an overcrowded digital world?
Your Customer Retention Strategies Are Everything . . .
According to the Harvard Business School increasing your customer retention by 5% will see your profits increasing by 25% to 95%
How To Do It . . .
According to a 2012 Brand Loyalty survey by Clickfox, customers will come back to you because of:
- Quality 88%
- Customer Service 72%
- Price 50%
- Convenience 45%
- Commitment to social responsibility 15%
- Status symbol 12%
- Other 9%
Brands Who Are Getting Their Customer Retention Strategies Right . . .
20% stated that they could not live without Apple
Other companies that are loved by customers include:
- Amazon
- Coca-Cola
- Microsoft
- Starbucks
- Zappos
"Holy smokes! What could have occurred just now?! I have used my laser vision to vaporize that poor customer service experience, and have created a coupon for you to help mend your online experience wounds in this troubling time."
Leading e-Commerce business Zappos' unique and personalised customer service response emails have gone viral
49% of customers say the best time to win them over and retain their business is during their first purchase or service.
But don't forget that great customer service is vital 40% said that they were won over by a company when it resolved an 'issue' with their purchase.
Online Reviews Drive Sales
70% of consumers trust online reviews and opinions posted about a business.
Using a trusted online review solution provider could see your conversion rates climb up to 58%.
Keep Your Social Media Channels Alive
74% of customers have communicated with businesses through social media.
But . . .
70% of customer questions posted via social media are ignored by companies.
Keep Your Message Simple
Only 13% of customers felt that communications sent to them by companies were clear.
Keep Rewarding Your Customers
62% of customers believe that companies aren't doing enough to reward their loyalty.
54% say that they would increase their spending with a company if they were rewarded for their purchases.
But Keep On Top Of It . . .
85% of loyalty programme members hear nothing from a company after signing up.
Remember:
- The three tenets of running a successful business on- or off-line: quality, customer service and price.
- Collecting and displaying customer reviews communicates customer trust and confidence in your company.
- Study how Zappos and other leading brands are walking the extra mile to keep their customers satisfied.
- Customers are most likely to stick with you based on their first experience of dealing with your company.
- Keep your social media and blogs up-to-date.
To help maximise your customer retention strategies, download the free eGuide: The Pitfalls of Online Reviews