Acquiring new customers costs much more for your online retail business than keeping your existing customers happy. You want to ensure that you are doing everything in your power to encourage customer loyalty. But it is not enough to merely offer excellent products. In order to increase customer retention, your products must be backed by a guarantee of unconditional customer satisfaction.
Below, we’ve outlined four proven ways to improve your customer retention.
1. Customer Service
The importance of effective customer service cannot be overstated. When your customers buy high quality products, they have high expectations of the product fulfillment service backing them. Employ service representatives who engage customers with empathy, offer them workable solutions and communicate plans of action clearly. When customers leave service interactions with satisfaction, they are far more likely to return for future purchases.
2. Customer-Friendly Policies
Recommended for YouWebcast: The Art of Growth Hacking: Gaining Early Traction by Doing Things that Don't Scale
Your customers should feel that you value them even after they’ve completed a purchase. Companies that offer flexible return and refund policies as well as competent technical support stand a far better chance of encouraging customer retention and bigger purchases. Your willingness to offer this flexibility also shows that you stand by the quality of your products.
3. Functional Online Presence
Your e-commerce website needs to be more than just an online storefront. It should also be a forum for self-service. Your customers expect to be able to answer their own questions and solve their own problems using your site. Make sure that you have a customer-only area that outlines your refund and exchange policies, offers answers to frequently asked questions and provides interactive message boards. When your customers find their purchases backed by a friendly, informative and dynamic website, future purchases become more likely.
4. Keep In Touch
Stay at the forefront of your customer’s mind. Follow up on each customer purchase with a courtesy call to ensure product satisfaction. Use this call to make your customer aware of the channels that exist for excellent product fulfillment support as well. Company e-newsletters and coupon mailers are also effective ways to remind your customers of the features that attracted them to you in the first place. Stay visible and your customers will think of you when the time comes to make another purchase.