Photo by Nataliya Vaitkevich:
Customer retention is, of course, an ideal outcome to invest in, but it’s a tricky proposition. After all, what customer retention percentage should you shoot for? Well, 100% would be ideal, but of course, that’s not realistic. Moreover, sometimes, trying too hard to
retain a customer, like trying too hard to reel in a fish, can only break the line and cause some temporary embarrassment.
What’s worse is if customer retention strategies that seemed to work in the past, like graded and timed promotions, customized preferences, newsletters, and more, don’t seem to work as they once did. What could be the issue? Well, it’s not always so easy to diagnose.
However, we’re willing to bet that trying a
few new strategies
can better help you map the shape of the problem. In this post, we intend to recommend a few approaches that could keep your customers coming back for more:
Direct Voicemail Outreach
Sometimes, the best way to get a customer’s attention is with a simple, personal message that they can listen to on their own time. A great way to do that is with voicemails that leave a friendly message but not irritating customers through ringing their phone. You may ask
how does ringless voicemail work? It’s a system that sends a pre-recorded message straight into the recipient’s voicemail inbox, completely bypassing the phone call and expectation for them to pick up. This method is actually quite effective for necessities like sending a personalized thank-you message after a purchase or for a quick update on a new product. It feels more direct than an email but less intrusive than a cold call, which could possibly help someone remember their past use of your service.
Return Trial Periods
All customers get hesitant before making a big purchase, especially if they’ve had a bad experience somewhere else. Offering a flexible return trial period can remove that risk for them and it gives them a second chance to think about your company again.
You could allow a customer to try a product for a set amount of time and then return it for a full refund if they’re not happy, or offer another two-week sign-up to your premium services on their prior account, because both methods show confidence in your offering. It’s also a rarer approach, so competition is unlikely to be doing it.
Price Matching
As ever, customers are always looking for the best deal, and it’s easy for them to just go somewhere else if they find a better price. A great retention strategy is to offer a price-match. This means if a customer finds the same product for a lower price from a competitor, you’ll sell it to them for that same price. It keeps the customer from leaving your business and also shows them that you’re committed to being competitive. This way, why should they go to another business that doesn’t know their preferences, that they don’t know the process of, and that there’s a small chance they’re disappointed by? It’s a good alternative, though apply it where necessary, and not all the time.
With this advice, we hope you can better map your customer retention strategy, even if it’s slipped lately.
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Customer Retention