Savvy sales agents understand that it is more cost-effective to retain existing customers than to spend time finding new leads and convincing them to make a purchase. Because customer retention is important to your bottom line, you want to find the best strategies to improve in this area in 2018. These are some of the strategies that may be effective at producing the results that you desire.
Focus on Enhanced Marketing
A key element of customer retention relates to showing your customers the benefits of your products or services. Because this aspect of your marketing campaign is focused on customers who have already made a purchase, a smart idea is to draw attention to what their life or experience may have been like before their purchase in contrast to after the purchase. When you focus on before and after, you show your customers that there was true value in their purchase. This may inspire them to make a future purchase.
Understand and Improve on Pain Points
Even previous customers who have had great experiences with your products or services may have pain points related to a future purchase. For example, they may have purchased your products or services initially because of a sale or promotion. Now that the promotion is over, they may not want to pay the full price. There are various ways to address pain points. For example, with a healthy marketing budget, you could run television ads or create professionally produced videos that can be linked to your marketing material. A business loan alternative, such as a merchant cash advance from Everest Business Funding, can help you to obtain the cash you need for these marketing efforts.
Offer True Value
Your ability to retain customers relates to the quality of the products or services that you offer. Even when you do your best to manage the reputation of your brand image after the sale, be aware that the customer will develop his or her own idea about the value that they received from the purchase. The best marketing campaign cannot erase a buyer’s negative perception if the quality of the product or service was not in line with expectations. Requesting feedback from customers is a great way to show them that you care. However, you must also make changes to products or services if you notice a trend in the customers’ responses.
Create a Personalized Experience
Customers love to feel special, and one way to accomplish this is by offering them a personalized experience. During the sale, make every effort to learn more about the customer and to address them by name. If possible, personally follow up after the sale, and ensure that your customer service department is trained to provide personalized, attentive service. Any additional marketing, such as an email marketing campaign, should be personalized to the customer.
Retaining customers is a critical factor for many business models if you want to improve your bottom line in the next year. Focusing on improving customer retention is an excellent idea. Seeking funding as needed through a business loan alternative like a merchant cash advance may help you to achieve your marketing goals.