Customer retention is a key to a company's operation, especially in a time like the one we are experiencing. It allows increasing buyers' value and motivating them to continue betting on the brand's products and services.
Various studies conclude that investing 5% more in customer retention generates benefits of up to 95%. However, increasing customer retention rates is not an easy task. This requires a plan focused on improving -mainly- the consumer experience. What strategies must be put in place to achieve this goal?
Automate the bottom end and customize the top end is a crucial strategy to retaining customers. It allows you to automate the routine tasks that sales, Customer Retention Services in Ranchi, and marketing carry out every day, thus freeing up valuable time that can be used to call customers.
For what it's worth, know the client's business. Be a consultant and ask your clients questions; this will allow you to guide your customers to buy what they need, not what they think they want.
Keep track of lost revenue and immediately try to figure out how to reverse cancellations. Don't be afraid to ask customers why they canceled orders or why they are taking the entire business elsewhere. By obtaining this precious information, you will be able to identify the steps necessary to recover the loss of business and/or avoid this same mistake in the future.
In order to retain more customers, it is essential to maintain an honest and transparent relationship with them. This is achieved after aligning consumer expectations with the services offered by the company.
Avoid making promises that jeopardize customer trust. To achieve this, it is essential to provide detailed descriptions of the products and the conditions under which the company's offers and promotions are governed.
From the purchase history, it is possible to know what types of products are to the consumer's liking. Based on the results, special discounts or additional balances may be provided not to retain customers. For example, some e-commerce businesses give their visitors discount cards for making a purchase or offer promotions for a limited time.
Today, consumers look for companies to be able to solve their problems. To achieve this, it is necessary to implement a support network through the channels most used by customers. For example, in pandemic times, live chats and telephone assistance has been a key to resolving questions and queries from the public.
Nimbus BPOs’ key aspects to have for exceptional Customer Retention Services in Ranchi:
Offer incentives to customers to keep doing business with you:
Price is always a concern for people when buying a specific product or service. Implement a pricing strategy where you are neither the cheapest nor the most expensive. At the same time, don't offer discounts to all customers just for the sake of offering discounts.
Well, this is how you are actually training your customers to look for deals before placing an order. Act more scientifically. You use prediction models to make the right offer to the right customer at the right time. One request does not work for all customers.
Develop personal relationships:
One simple thing to consider is assigning a person to individual accounts and empowering them to build a relationship with each client. Here it is necessary to implement activities for customer loyalty.
Follow up on new customers:
This is a golden strategy that all businesses should strive to achieve, but it is significant for an e-commerce business. Following up with new customers provides a human touch in an impersonal transaction, thus creating the foundation for a loyal relationship.
It is not always possible to track every new customer, but you can set a value in dollars or any currency and track all new customers who spend more than that. This is very easy to implement online.
Here at Nimbus BPO, we believe that keeping existing customers is always more profitable than acquiring new ones. To put it another way, getting a new customer costs up to 7 times more than retaining an existing one. Keeping regular customers helps us predict workflow and possible income while making it easier to serve them due to the more excellent knowledge that we acquire over time. Thus, if you think you require the Customer Retention Services in Ranchi, let us know and we’ll help you out with the retention process.