You don’t have to be a math genius to realize retaining existing customers is more profitable than attracting new ones. In fact, just a 5 percent increase in retention rates can send profits soaring 25 to 95 percent. What’s the secret to such amazing results? Transforming your approach to customer service.
Create a cohesive brand experience.
Every avenue through which a customer can interact with your company must reflect the same branding, message, voice, and level of service. Customers should feel the same vibe when they visit your website as they do in your physical store and should have access to the same deals and coupons. Be sure to set up your credit card terminal to quickly apply the same discounts offered on your website.
When customers know they can trust the promises of your brand whether they’re browsing, calling customer service, or redeeming a special email offer, they’re more likely to make purchases in the future.
Be timely with your responses.
Customers hate it when they message you on Facebook or mention you on Twitter and have to wait hours to hear back. Leaving emails unanswered is practically pushing them away to your competitors and don’t even think about sending them to voicemail when they call.
Today’s customers don’t have the patience or the desire to hang around until a representative is available, so make sure every communication channel is properly staffed at all times. If this means hiring a social media manager, getting a phone answering service, or putting together an email support team, do it. Your goal should be to make sure every customer’s needs are addressed as quickly as possible.
Build genuine community spirit.
Have you ever noticed how the most popular brands seem to have fans instead of customers? These loyal bands of followers prove the power of creating a community experience centered around products and services.
Customers want more from your company than transactions; they want to be part of something bigger. If they can connect and interact with others who share similar likes, dislikes, and personal habits, they’ll have a compelling reason to stick with your brand. Transforming your business from a simple vehicle for commerce into a haven for your ideal audience not only fosters loyalty but also gives you an active network for free word-of-mouth advertising.
Is doing all of this really worth the effort? You bet. Having more loyal customers means spending less money on advertising and a lot less time chasing down your “ideal” audience. Customers who stick around in the long term spend more and act as willing ambassadors for your brand. Invest in a better customer experience today to reap the long-term benefits of building long-term loyalty.