What Strategies to adopt for customer retention

Discussion in 'Growing and Managing a Business' started by Loyale, Oct 3, 2015.

  1. Loyale

    Loyale
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    Retaining old customers is definitely cheaper than acquiring new ones, therefore customer retention is extremely crucial for any business. If you have learnt the art of keeping your customers happy and satisfied, you will surely keep them. Yet, why do some retention strategies fail to create a loyal customer database?

    The main reason why some organisations sustainably grow long term while some burn out and die depends on three main characters:

    • Keeping customers happy

    • Minimising customer effort

    • Excellent customer service
    Organisations should focus on having proactive, reachable customer service that delivers customer delight and satisfaction. This in turn initiates optimum loyal customer database and customer retention.

    If you have any comments or suggestions, we encourage you to share the same with us.
     
    #1 Loyale, Oct 3, 2015
    Last edited: Oct 3, 2015
  2. ArticleBlizzard

    ArticleBlizzard
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    Yes, one of the most important strategies we implement is Customer Value Optimization. Basically, it is all about customer retention.

    A couple of the key aspects you did not mention were e-mail marketing (getting a customer on your email list) and re-targetting (through Google, Bing, Facebook, etc.)

    In fact, I have a short e-book I have written about this exact concept. If anybody is interested, I would be happy to send a copy.
     
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  3. Abhilasha

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    If you have targetted audience then your day to day business process will help you gain customer retention. Make sure about your TG. Other than this marketing tips can also help you in many ways. Service to customers are must for this, the better you serve, the better you gain.
    1) Meet your customer expectation
    2) Build your customer trust
    3) Engage customer online
     
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  4. Loyale

    Loyale
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    Thanks Article Blizzard for your suggestion. Would love to read your e book. My discussion was mainly about what sets the successful organizations from the not -so successful ones. Customer Value Optimization is indeed a very important parameter to judge that. Apart from E mail marketing, one must also add a personalised touch and reward their customers from time to time for increasing Customer Lifetime Value.

    Thanks
     
  5. MahaKarthi

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    • Although this is a good beginning for a post, as is it says nothing helpful.
    There are advertising and promotional strategies that are adopted by many companies to ensure that the customers are reached quick and ensuring their loyalty.
     
    MahaKarthi
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  6. Gerry Speck

    Gerry Speck
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    If you wanted to get succeed in your business as fast as you can the first thing you keep in mind is the customer loyalty. If you are not able to provide the required services to your customers, then your business is no more.

    Here are some tips which help you to build a good relationship between you and your customers:

    1. Ask the customers what they are exactly wanting from your side, understand their needs.
    2. Always stay in touch with your important customers, especially on some special occasions like festivals.
    3. Provide great services and never compromise on quality of your service.
     
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  7. PrashantBhurke

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    For a successful business the first thing that you have to keep in mind is that customer satisfaction.

    To do this you have to take care of some points like :

    Meet their expectation.
    Build a good relationship with them.
    Provide them good services.
     
  8. aspecialist

    aspecialist
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    To make the customers retain and keep coming back for your service or product, you should make them satisfied and feel that they are important. Start building rapport with them on the day one that they try your service, so that they would feel more comfortable.
     
  9. Loyale

    Loyale
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    Thanks everyone for your valuable suggestions and inputs to make this discussion an enlightening one. I concur with all your points on customer retention. Great customer service, understanding their needs and connecting them through social media and email marketing are great ways to engage and retain customers
     
    #9 Loyale, Oct 26, 2015
    Last edited: Oct 26, 2015
  10. deannatroupe

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    I think the best way to keep customers is through good customer service. I have seen people pay more for the same items just because a company has good customer service. I will use Chic-Fil-A as an example. They are not the only ones that sell chicken sandwiches but people will gladly pay a premium because they know they will get superb service.
     
  11. Keity

    Keity
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    One of the best way for customers retention is to give good service always. Make them always happy, build a good and faithful relationship with them. So that they inspire and come again and again.
     
  12. noachleo

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    I genuinely believe that it is imperative to provide something appealing that will satisfy the customer's needs and also lure them into getting back and make a purchase in the future, even if it's not right there and then.
     
  13. CodyDeegan

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    To retain customers, back up your product or service with an incomparable customer service and it will surely help you be closer to your clients and retain to establish a business relationship with them.
     
  14. Maria97

    Maria97
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    Following are the important retention strategies will give you some suggestions for customer satisfaction.
    • Target customers with special offers
    • Appreciate your customers
    • Build trust through relationships
    • Implement customer feedback
    • quickly resolve your customers issues

     
  15. CherylTorrie

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    Customer retention is key to any business that relies on repeat customers and customer referrals. Keeping customers loyal to your products and services involves the entire introduction, quote, sales and follow up process. Developing a circular customer service plan that keeps customers coming back or referring others to you is essential but it's also unique to the product. A retail operation is going to have to develop a different method of customer service than a landscaping company but the principals are the same. Without good customer service you have very limited chance of success.
     
  16. terryse

    terryse
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    Customers keep coming back if they like your front line services, including the friendly and approachable people that delivers them. In customer retention, as in most other fields, knowledge of customer behavior is king. If you have more knowledge of their buying behavior, you will develop a sense of identifying their needs.
     
  17. PrashantBhurke

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    For customer retention the most important is the service. You should make them satisfied and try to know what exactly they want from you.
     
  18. CodyDeegan

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    The more customers you retain the more cost effective you are. One of the very good indication of a good relationship with a customer is that your customer would refer clients to you because they already trust you and your business.
     
  19. gradetracy

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    • This post has been edited to remove a promotional URL
    I guess, it would be great to make some promotional gifts for your customers. For example, I've got some custom lapel pins from Pinsource for my small local business. People like those cute freebies, and they make them happier :)
     
  20. Kgord

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    I think you should survey you current customers and find out what they like and don't like about your business. Most of the major corporations do this, and it is a way of finding out what customres really think and how you can improve.
     
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