|
||
Customer Retention StrategiesEvery company has one aim and that is to make as much of a profit as they can. When it comes to a business's marketing budget, most people know it costs less to retain a customer than to acquire new ones. However, most companies are organized and driven by acquisition rather than focusing on service and retention of their current customer base which makes them loose out on potential profits. They are spending a lot more than they have to in order to get people to purchase. The people who have previously purchased from your business are much more likely to purchase again than potential customers are to buy for the first time. The following are marketing campaign strategy ideas that focus on customer retention rather than customer acquisition.
Membership Cards and Programs: Memberships offer rewards to those who continue to purchase from specific businesses or a co-op of businesses. Advertising to your current customers about your loyalty or membership program is much more likely to generate more business than trying to acquire new business. If you want to improve customer loyalty and retention, offer a membership program. Being a member of something tells your customers they are important, needed, and loved. It fulfills a need. It will require less effort on your business's part than continually advertising to your current customers or trying to find new ones. Data Tracking: If your ability to track your customers is lacking, you need to re-direct some of your budget to improve your business. You want to look at each interaction with your business from the customer's point of view and see how when the company knows you and everything you have ever done with the company, that you'll come back again and again to be served. Customers like it when you know what issues they've had, what they've purchased in the past, their preferences, any compliments or complaints they've made, and a myriad of other information. When you know your customer, they will come back and purchase again.
,
|
||
Copyright 2003-2020 by BusinessKnowledgeSource.com - All Rights Reserved
Privacy Policy, Terms of Use |