5 Different Ways CRM Solutions Help You Increase Customer Retention
Customer retention is incredibly important for growing any business and losing them would turn out to be a fatal to you and your business. Research studies have shown that the returning customers spend 3x more than the one time customers. And in order to stay alive and keep your customers faithful and loyal enough, you would here have to know how you could optimize your customer retention tactics. And if you have already got a stronger customer retention strategy then are plenty of tiny tweaks that could enormously help you improve customer strategy. Given below are the 10 best and detailed tactics that would help you boost up your customer retention.
#1. Getting to know your clients and customers:
In the end customers are going to love your business who knows them well, when compared to the ones who treat those just like another client. People like to be known and understood. According to a research study conducted by Help scout many psychological studies have shown that everyone views their experience as positive when they don’t feel rushed or ignored. Try and tell your service team to spend a bit more time with the clients and customers they have been dealing with. This does not mean you need to make a small talk each and every day, but taking out time to understand the traits of the customers creating a stronger relationship.
#2. Understanding who is being retained and learning from them:
Before you begin implementing new ideas or are planning to improve your customer retention, then this is a really good idea of driving more into your data and then checking out which cohorts of the customers are being retained and what have they learnt from it. Say for example customers who spend more than 50$ in their first purchase get retained at a much higher rate, rather than the customers whose purchase is less than 50$. This insight would give you an idea if you could increase the size of the first order of the customers then you could retain them at a higher rate. You could also offer them with a coupon for the first time shoppers in order to improving your up sell offerings.
#3. Having a feedback system:
There is no better or different ways you could improve your customer retention techniques than hearing from the customers themselves. A feedback system such as a survey or talking with your loyal customers would help you hear from them directly regarding how they have felt regarding you and your business. This would again offer you a lot of insights as to what would keep your clients coming back to you on regular basis which you could then put into effect and keep them revising.
#4. Being nice to them unexpectedly:
Giving a free gift or sending your clients a follow up message is great, but this generally works to be great if you could use the element of surprise to your advantage. People generally remember you when you have something for them in a good way, as this is something that came out of now where and you would like all the others want to leave a last impression on them. Remember it does make your customer happy and it continues to stick to their mind when something is done for them and turns out to be more than ordinary.
#5. Setting up expectations for the clients early:
There are a few reasons that are setting up expectations early on in your relationship with a client that is crucial for retention. If you could here follow through on what has been promised to them then that is going to be impressive to the client. Having a clear vision on your company develops KPIs around specific expectations helping you succeed in general. To conclude these are the above mentioned five tactics you could do in order to improve your customer retention using CRM Solutions. And in case you are feeling overwhelmed from the above mentioned information then we would here recommend you to pick up just one from the list above and spend a week working on it.
Ashly J is a freelancer and has experience of over 5 years in CRM solution for small business. Her main mission is to reveal the innovative ideas of using Dynamics CRM and bringing the application to more businesses and organizations around the world