4 Effective Ways to Boost Customer Retention
It’s no secret that bringing on new customers is always demanding for marketers. Most of the time marketers are so busy trying attending to new customers that, unintentionally, they forget about the ones they have already met! This means that when they finally do succeed in having some new customers, they are unable to sustain the previous ones! This is an unending cycle. Here’s a useful research report aid you in understanding the issue better.
In general, when you’re trying to reach new customers or users typically, the conversion rate is between 1 and 3 percent. In contrast when you are targeting returning customers, the situation is totally different. The proportion of conversion rates increases from 60 to 70 percent. In addition, nearly 40% of the total income of an online shop is generated by 8 percent of existing customers.
So, it is easy to recognize the how important it is to keep your current customers content and happy. Here’s a list of four effective strategies to increase the number of customers who stay when you run an online business.
#1 Show Loyalty to Your Users
If customers purchase from you, don’t you feel it’s appropriate to offer reward points to them to help them have a better time shopping? One method of showing your appreciation to clients is to provide them special offers. Customers aren’t regularly visiting your website. How do they get to know about discounts and special offers? You must send them notices in a respectful manner. It is even more effective when you personalize messages to your clients.
You could offer your clients discounts on their birthdays or anniversary as well as a positive wishes message. It’s a surprisingly efficient way to increase the retention of customers.
#2 Use Social Media Platforms Tactfully
Technology is growing exponentially with each new day, and in this technologically advanced age, you’re not astonished by the huge popularity of different online social networks. People from different regions of the globe stay connected via these social media platforms. What you need to do is advertise your business effectively through this massive platform, reaching an immense audience at the same time! If you use it correctly way, you will be able to stay in touch to your customers and engaging with them becomes more seamless and more efficient. Additionally, by using these social networks, as well as the easy integration of shareable content your business becomes well-known with those who are friends with your clients. This is definitely an amazing method to increase conversion rates.
#3 Communicate Efficiently
When communicating with your clients Be cautious to ensure that your message does not sound like a “spam”! A great way to reach out to your clients is through a “push notification”. Try to add some flavor of personalization to your push notifications. In the absence of this, users are likely to disregard the push notifications and view them as spam. Additionally, be cautious about when you are the push notification.
Imagine that you own an establishment for restaurants and you are you notify your customers of the the availability of a special lunch coupon in the hours of midnight! Does this sound like logical thinking to you?
#4 Offer Easy Payment Methods
If you have more options for payment that you can offer consumers, the greater number of people are likely to feel comfortable when they shop on your store’s website. Imagine that your online store offers only one payment option. This means you’re losing customers who aren’t able to pay using that specific method. So, providing additional payment options will automatically boost the conversion rates.
A further important tip is to avoid using excessive distracting elements on checkout pages. It is best to keep it simple with a simple design, so that customers are able to know what they need to follow in order to finish the purchasing.
Apart from the mentioned aspects, you could take a look at philanthropic initiatives and focusing on increasing rate of retention of customers. One important thing to keep in mind is to not create checkout procedures that are complicated. According to one survey that shows 68% of customers abandon the checkout page before they have completed the purchase! This is very disconcerting for business owners. So, when you design the page for checkout, you must be mindful of the details you require your customers to change their database. Keep the process as simple and concise and clearly easy for customers to use.