Business

10 Ways to Boost Customer Retention Rate

4 Mins read

Getting a new customer in the door often requires a huge investment of time and effort. It’s much easier and more efficient to retain the customers that you do have than to continually get new clients in the door. If you’ve been having a lot of customer turnover lately, Here are 10 things you can do to increase your customer retention rate, from ordering from iPromo to pricing amazing customer service:

Under-promise and over-deliver.

Not fulfilling promises to your customers is a sure-fire way to lose them, so you need to do the opposite. Even if you think that you can deliver something faster or better, lowball your estimates and don’t over-promise. Instead, give yourself a bit of cushion in case something goes wrong. If it does, you’ll have the flexibility to make it right before the deadline. And if everything goes smoothly, then you can impress the customer by giving it to them early.

Offer stellar customer service.

If you can turn your business into a positive experience, your customers will keep coming back for more. That starts with having a stellar customer service team who are prompt and helpful whenever a customer has a problem and working with them until the issue is resolved. You should also seek to be proactive, checking in with customers even if they aren’t submitting support tickets. Even if they don’t have anything they need help with, they will appreciate the gesture!

Continually improve your business.

Customers love working with a company that is continually upping its game, whether it’s renovating its retail locations, pushing new features to its software, or making its packaging less frustrating. This shows that you are committed to improvement and aren’t simply looking to coast on your past achievements. Rather than resting on your laurels, seek to constantly improve your product or services, and your current customers will be duly impressed.

Build relationships with them.

This tactic is common in businesses where they have long-term relationships with clients, such as marketing agencies and their clients. However, the relationship mindset can really make a difference no matter the industry you are in. Rather than seeing your clients as a single touchpoint, think about how you can establish a relationship with them and keep them coming back for more, whether that’s reminder texts or a monthly email newsletter.

Personalize your service.

Now it’s no longer enough to offer the same experience to every customer without taking their preferences into account. Thanks to technology, there are more opportunities to personalize your marketing messages, so you should definitely be taking advantage of it. Likewise, it’s becoming easier than ever to customize your product or service, whether your company makes personalized shampoos or provides dog walking services. Get to know your customers’ preferences and leverage the technology you have to customize their experience.

Keep selling — and upselling.

Don’t lose your sales mindset once the customer makes the purchase or signs the contract. Continue selling the client and upselling them on add-ons that fit their needs. Make sure to tailor your offers to their specific situation; don’t just shove any random add-on at them in an attempt to make money. That might put a bad taste in their mouth and make them want to take their business elsewhere, which is the exact opposite of what you are trying to achieve.

Solicit feedback from customers.

Customers love to feel like they matter, and one of the ways you can accomplish that is by soliciting feedback from them. This can be as simple as a quick survey or as elaborate as having an in-depth walk-through with a product manager. The key to this process is implementing changes based on the feedback and explaining to customers how their feedback is making a difference. If you don’t do anything positive with the feedback, they’ll feel like you wasted their time and didn’t take them seriously.

Create a customer loyalty program.

Loyalty programs reward customers for their purchases, and they can take different forms, depending on what makes sense for your business. For instance, you can offer a freebie after 10 purchases, give them a promotional product such as branded sunglasses, or offer a coupon that can be used on a future purchase. See what some of your competitors are doing for their loyalty programs and brainstorm ways you can make yours better.

Institute a referral program.

Do you know what’s just as good as retaining an existing customer? Having that customer refer new business to you. Incentivize your customers to provide referrals to your company by offering them rewards such as discounts and free upgrades. You can also reward the new clients for coming in through a referral by offering them a discount. This will start off their relationship with your company on a positive note and set the tone for the rest of your business together.

Release bad clients.

Not all clients are worth it, and sometimes you’ll end up putting too much money, effort, and time into trying to keep someone happy who simply can’t be satisfied. If you’ve come to the end of your rope with a client, it might be time to let them go so they can find a product or service that better fits their needs. Don’t think of it as losing a client; think of it as gaining time and effort that you can put toward other clients to make their experiences even better.

Retaining customers is one of the best things that you can do for your company’s reputation and your bottom line. Follow these 10 tips to improve customer retention, make your business more profitable, and keep your clients happy both now and in the future.

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