One mistake businesses often make is overlooking their existing customers in their quest to acquire new ones. Such an oversight can lead your current customers to the competition. While obtaining new customers should always be a priority, it’s the savvy business that knows keeping customers happy and increasing their lifetime value is the key to sustainable growth. Here are some simple, proven methods for boosting customer retention that you can execute immediately.
Talk to your audience and emphasize your value proposition
It’s vital that your customers feel that you “get them” so you need to create a connection with your brand to their lifestyle choices – their goals and desires. Your customers care about how your product or service will solve their specific problems and bring them value. To create a long-term relationship with your customers, you need to sell them on your value proposition.
In a nutshell, a value proposition is a clear statement that:
- explains how your product solves customers’ problems or improves their situation (relevancy),
- delivers specific benefits (quantified value),
- tells the ideal customer why they should buy from you and not from the competition (unique differentiation).
Use social proof
Reminding your customers why they chose to do business with you in the first place is a great way to get attention. Many customers trust testimonials over brand advertising when making a purchase decision so don’t forget this valuable tool.
Include your customers
When you involve customers in the process, they feel more valued. Especially when they provide feedback, then see their feedback being used to provide a better solution. They’ll feel a profound sense of loyalty to your brand when they know you’re listening and sincerely interested in helping them.
Talk to the customers you lost
One of the most effective ways to improve customer retention is to find out why your customers chose to leave or go to a competitor. Contact those customers you’ve lost to solicit feedback. Don’t be shy about asking why they left, how you could do better and what attracted them to your competition.
You may not be able to win back the customers you lost, but you can fix those issues, improve your service and stop more customers from leaving.
West Press’ talented staff is here to help you each step of the way — from graphic design to printing to mailing services to large format. Contact West Press or your Account Executive at 520-624-4939 today.