4 Ways to Boost Customer Retention in 2020
Retaining a customer is hard enough as it is – pandemic or not. With businesses continually requiring to adapt to the changing times, it is a good idea to review your customer strategy every-now-and-then.
If you’re looking to fill the gaps between your existing and potential customers, keep reading. Here are four proven strategies that work when it comes to building a customer base that’s loyal, satisfied, and happy (especially in these unprecedented times):
1. Liven Up Communication with “Live Chat”
Whether you ask brand experts or customers at large, the word on the street is the same: Instant real-time communication is the need of the hour.
In fact, according to research, “95% of customers value high-quality and thorough customer support more than speed.”
Given its popularity and ever-growing demand, numerous businesses are investing in live chat software to leverage numerous benefits such as:
24x7x365 Availability: Gone are the days when customers had to wait for hours on end to get in touch with a customer agent. With the live chat feature, businesses can allow users to fill in their queries so that the software routes the query to the next available agent at the right time. An excellent example of this is HipVan’s live chat feature on the website:
Seamless, Instant, and a ‘Humane’ Support System for customers who may be struggling with navigating your website:
Gathers Important Information: Using live chat, brands can ask customers for their email address so that they can approach new customers and re-target existing ones in a personalized and customized manner:
Key takeaway: If you wish to increase your chances of return visits and repeat users, investing in a fool-proof live chat software can be your best bet yet. Customers ‘expect’ brands to know their likes and dislikes and approach them accordingly. This is where a live chat feature can become a God-send.
2. Automate your Email Subscriber List
Before we jump into how you can build a solid email subscriber list, let’s look at why:
Increasing number of users: According to Statista, the number of email users is set to reach 4.3 billion by 2023 or in short, half of the world’s population.
Increasing number of emails being sent: The same report says that by 2022, around 347.3 billion emails will be sent and received daily.
Greater customer retention: Further research by Emarsys shows that 80% SMBs rely on email for boosting customer retention.
In essence, email marketing is here to stay – which is why you should automate your email system and leverage an organized email subscriber list. With this, you can invite users to revisit your website, offer deals and discounts, inform users about new offerings, among other things.
Here’s how the Swedish brand, Oatly, welcomes new users. Its email communication is witty, smart, and endearing all at the same time –
Here’s another example of a brand that actively follows up with customers who chose to abandon their cart.
Next on the list we have re-engagement emails which target lost customers so that the latter can connect better with the brand:
Key Takeaway: All said and done, emails are as important to users as sales is to your brand’s success. With the right mix of brand tone, authentic information, user-centric keywords, and aesthetic graphics, email marketing can pave the way to a loyal customer base.
3. Re-Target Smarter to Boost Return Visitors
“Global ad spend will reach $605 billion in 2020.” – The Drum
Unsurprisingly, tech giant Google has a 90% market share when it comes to search engines. It goes without saying that Google leads – and dominates – this market.
In fact, data by eMarketer claims that “Most (customers) bought an item within five days, though more (35%) purchased in this time frame using Google than Amazon (19%).” Plus, data also predicts that “Retargeting ads are 76% more likely to be clicked on than a regular old display ad.”
So, it makes business and logical sense to advertise on this universal platform.
Moving onto how you can boost return visitors? Basically, start by leveraging the “Retarget” feature from Google Ads as demonstrated below:
Remember that there are numerous ways in which you can target users – from YouTube, mobile app, website, among others.
Secondly, this is how Google Ads works. Say a customer wants to buy hair color. Do you think they’ll end up clicking on the first four options highlighted below or will they scroll down? Our bet is on the former because it’s convenient and quick:
Key Takeaway: According to a study by Nielsen, most customers need an average of six visits before making a purchase. In such a scenario, using the Google Ads re-targeting feature – with the right ads, at the right time, placed at the right place – can make all the difference in your marketing mix.
Also Read: How to Create Dynamic Search Ads
4. Encourage Customer Feedback all the Way
“91% of millennials trust online reviews as much as friends and family. – Brightlocal
You’ll be surprised to know that as per research by eMarketer, “Product reviews are 12x more trusted than product descriptions and sales copy written by manufacturers.”
This is exactly why businesses need to create a feedback loop and an ongoing customer feedback program – one which encourages the users to send genuine reviews about the brand’s offerings. Here are some brilliant examples to get you inspired:
Uber’s feedback mechanism works wonders for the app:
Another great example of a brand that’s acing customer feedback is Amazon. The brand highlights “Customer Reviews” (as shown below) and allows readers to filter products by Feature, Price, etc.:
This next example is not related to direct customer feedback, but it showcases the brand in an honest limelight – one of the best ways to retain customers and attract new ones:
The brand, Lifebuoy, clearly mentions its competitors (a move most brands would reluctantly take) and by doing so, ensures that most customers view the brand as authentic and caring, thereby boosting brand retention.
Key Takeaway: The idea is simple: Customers trust other customers. It is human nature to believe people who “are in the same (proverbial) boat.” So, brands must work towards setting up a feedback mechanism that encourages users to post authentic reviews. Nothing lures a customer better than a brand that’s perceived to be honest and real.
Over to You
Retaining customers is an art by conception and a science by execution for all intents and purposes. Luckily, there are numerous tactics and platforms you can try to reach out to your customers and create a loyal space in their hearts and minds – the ultimate goal of every brand, correct?
Dhruv Mehta is a Digital Marketing Professional who works at Acquire and provides solutions in the digital era. In free time, he loves to write on tech & marketing. He is a frequent contributor to Tweak Your Biz. Connect with him on Twitter or LinkedIn.