The ability to retain customers is one of the most important parts of running a business and is also a main focal point of a good business marketing strategy. In fact, it’s more important now than ever with an increasing number of competitors in the market. Most businesses strictly focus on acquiring new customers, but the cost of a single new lead is much higher than the cost of retaining a customer you already have, especially if they continue purchasing from your company and generally spend more than new customers. Keeping your current customers happy can also grow into a network of recommendations and referrals for even better ROI.
What Does “Customer Retention” Mean?
The retention of customers is basically a measurement of customer loyalty and can be used as a metric to show how well your brand or company is doing. It measures your ability to keep customers for as long as possible or turn customers into repeat buyers. If you can get people to stay with your company or to keep coming back, it means your product or services are of quality and worth the money. Moreover, if you have a subscription service, retention of customers is the lifeblood of your company.
Customer Retention Strategies
Strategies for customer retention look different for different types of businesses and industries; however, they all include building trust, creating loyalty, getting and using customer data, using automated marketing, and personalizing your content.
Creating a strategy takes time, data, and follow-through. As a business owner, you might not have time to come up with these strategies, let alone implement them. You can leave these tasks to professionals that know what they are doing and can do it efficiently the right way the first time. At ROI Web Marketing, we have the professionals you need.
Depending on your business or industry, these are some of the customer retention strategies we use:
- Take advantage of email newsletter software to send welcome emails, disseminate offers, or remind shoppers about potential products left in their online shopping cart. You can organize and divide your customer lists to cater different emails to different types of customers.
- Improve engagement in social media, which involves increasing your YouTube subscriber count, Facebook followers and/or Instagram followers. You need to be producing content regularly to keep your brand at the forefront of your customers’ minds.
- Empower existing customers to buy from you again or to convert later by showing them Google Remarketing Ads. Remarketing advertises to people who were previous visitors of your website.
- Build specific audiences to bring clients back to your website to inquire or purchase. Audiences allow you to reach people based on their interests, habits, or interaction with your business.
Why ROI Web Marketing for Customer Retention Strategies?
With over 10 years of experience, we at ROI Web Marketing understand what it takes to successfully market your business and implement strategies that will result in repeat customers. Our mission is to help you elevate your current marketing strategy and create holistic systems that convert.