Keeping Your Customers Coming Back: 5 Tips
Know your numbers — On average, bringing in a new customer will cost you between 5 and 7 times more than keeping an existing one. Research suggests 80 percent of your profits will come from 20 percent of your customers. Take a close look at your own customer acquisition costs and customer lifetime value. With thorough analysis of these metrics, you’ll see where your resources are best invested.
Research, don’t guess — Demographics-based generalities are often misleading. For an accurate view of what’s keeping your customers loyal, look to your sales data and existing customers’ behavior. Conduct customer surveys to gather direct feedback from them about their experience with your company and their plans for the future. Run well, a survey can pull a response rate of 25 percent or higher and yield invaluable information.
Use social media to build a community — Make your customers, not your company, the stars of your social media presence. Encourage customers to connect with each other. Take care of your most involved fans by sending personalized thank-you notes or by publicly recognizing their contributions.
Target your promotions — Offering loyal customers discounts could devalue your product in the eyes of those who are happiest paying full price. Instead of giving discounts, occasionally surprise your biggest fans with special gifts or added benefits just to say thanks. Reserve discounts for those showing signs of dissatisfaction. For both groups, personalized communications like birthday and holiday greetings also go a long way.
Have a plan — Customer loyalty doesn’t just happen. Keeping your best customers requires a system that delivers the right type of communication at the right time. While you could manage your customer retention program in-house, hiring an outside marketing firm lets you tap a wider range of experience and immediate access highly refined systems.
Have you developed a comprehensive system for keeping your customers loyal? What role do social media and targeted promotions play in your current customer retention efforts?
Image via Shutterstock.com
With the provisionof6 month installment payday loansthe individual those who are in need of immediate cash can avail the funds even if their next pay to cheque is far away.
ReplyDelete6 month loans bad credit no fees
3 month payday loans no faxing
Payday Loans over 6 Months
To sum up, fast loans for students are easy and affordable loan schemes which give you comforts along with cash. Getting such timely monetary aids is the best way to meet all your sudden expenses without any hassle, Please visit
ReplyDeleteonline loans for people on dss benefits
bank loans for bad credit
instant loans for people on dss.
Very Nice Blog. Thanks a lot for sharing such a great informative blog. I would like to share a bit of information about loansfortheunemployedUK.
ReplyDeleteWhen it comes to perfect 1200x800 Shower Tray for our homes, which are often very suspicious that it is difficult, time consuming and expensive decision, but there are a variety of forms, and aspects that can be considered to give a better chance if the achievement Ideal bathroom next to you wanted.
ReplyDeleteFor More Detail us at: http://www.ukbathroomhub.co.uk/