There are many steps you can take to increase customer retention. Among the most effective may be improving your customer service, as many customers will stop buying from you if they feel mistreated, ignored, or undervalued. Effective public relations campaigns can help you to hold onto your customers as well. Additionally, incentive programs and sales, and events that cater to your customers' unique needs and interests may help keep them loyal to your business.
One of the best ways to increase customer retention is by focusing on customer service. Often, one of a customer's main reasons for leaving one company for another is because the customer service is poor or lacking altogether. Usually, customers value both their money and their time. If your business representatives seem not to value a customer's money and time, he may move on to another company that has better customer service practices. This company may then hold onto your customer by showing him how much it appreciates his business.
Public relations efforts can also go a long way when you want to increase customer retention. Once you've obtained a customer, you may think the quality of your products and services should be enough to keep him with your company. Often, however, public relations strategies serve to remind a customer of why he chose your company in the first place and help renew his loyalty to your business. For example, positive news stories about your company may help increase customer retention. Additionally, they may offer the added benefit of helping you attract new customers as well.
You might also find incentive programs helpful when it comes to customer retention. Your customers get a product or service in return for the money they spend with you, but it may help to offer them a little more. For example, you could offer a free product or service for every five or 10 purchases a customer makes. If you cannot afford to give a product or service away absolutely free, you could alternatively offer it at a significantly reduced price.
Sometimes customers like to feel they are special. You can help them feel this way by offering sales and special events that cater to their interests and unique needs. For example, you could send personalized emails to your customers, featuring sale items in which they are likely to be interested. You can use past purchases, polls, and surveys to determine which types of sales and events you should offer.