Five key points to creating your strategy to Increasing customer retention

Do you want to help your business succeed in the long-term? Of course, you do! Then you need to focus on increasing customer retention. It’s tough to find new customers for your business. This is because a successful business can only be built once you increase your customer retention rate. To retain customers, you need to build up brand loyalty and manage customer relationships in a better manner.

Without further ado, below are 5 best-practice strategies that can assist small businesses in retaining their customers. 

1. Analyze your purchase order cycle

It is a great idea to collect information about your customers and their buying behaviors. You can then use predictive analysis to segment these customers into groups. Through this, you will be able to analyze each segment separately. Based on the data from each segment, you can then create better customer experiences for them. Ultimately, it will help increase customer retention rate as well.

2. Provide exceptional customer service

Many companies assume exceptional customer service can only be achieved by going above-and-beyond — that loyalty is built on showy gestures. But according to research, the true driver of customer retention and loyalty is the ease of getting a problem solved.  We suggest to first, focus on consistently meeting expectations and avoiding unpleasant surprises. Then go the extra mile. 

3. Create a loyalty program

If you want to increase customer retention, you need to show your customers what’s in it for them. Show them that you value their loyalty. You can reward your customers’ loyalty in a variety of ways.

Here are a few ideas that can increase customer retention:

• Offer discounts or freebies
• Give them additional services or products for a discount
• Invite your loyal customers to event launches
• Give them a preview of your new products
• Surprise them with gifts on special occasions
• Team up with other businesses to offer discounts

It doesn’t matter which industry you work in. You can come up with an innovative way to reward customer loyalty in any field, and if you are a bricks-and-mortar business we have the perfect tool for you to get started. 

4. Offer fast delivery and easy returns

When it comes to ecommerce, delivery and returns are two of the biggest consumer concerns. The way you manage last mile delivery can help you stand out from the competition and retain customers. There will however, be situations when customers want to return and replace the product. Simplifying that process will give your customers peace of mind and also encourage them to come back to your ecommerce store.

5. Focus on Customer education

Our last strategy centers around educating your customers about your products and services, how they are useful, and even the activity or space in which they are used. By providing rich educational value you are providing valuable insight into how useful your products are, but instilling a sense of community around purchasing from you.

Bricks-and-mortar businesses use Roam for Business to keep them on top of their game

We make customer retention easy and here are some benefits of claiming your free venue listing:

• Send your customers push notifications direct to their phones, with any news, offers, events, loyalty deals and discounts or other offerings
• Use Roam’s click-and-collect alternative
• Create a loyalty club for your customers – existing customers are 40% more likely to buy your products
• Share new product releases to your customers with any exclusive offerings, menus and other services
• By claiming your listing on the Roam app, this effectively becomes your own app
• Drive desired actions like buying again or up-selling
• Communicate your brand values to increase loyalty and repeat revenue
• With our algorithms, we are able to drive customers to your doors
• It’s free to claim – simply add all your images and other information, and you also get 4 inclusive push notifications each month