How your customers interact with you? Simple strategies to retain your customers. Proven strategies to keep your customers coming back.
Simple right? You’ve to be certain of the questions, before going to the next stage. Below are the questions, explained.
Advertising is the first medium of business which drives the attention of customers. It is the easiest way to acquire new customers for business and insist on them technically to have additional purchase. The smartest part of online advertisements is, unlike other marketing tactics, it allows you to measure your marketing strategies and conversion rates.
What is customer retention?
According to Wikipedia, Customer retention refers to the ability of the company or product to retain its customers over some specific period.
High customer retention means customers of the product or business tend to return to, continue to buy or some other way not defect to another product or business, or non-use entirely. According to rjmetrics.com, only 32% of customers order for a second time over the first year. Differently said, most of the new customers drop off after the first sale.
The statistics show that it is quite challenging to retain customers generally. However, customer retention is essential for a couple of reasons. The reasons are:
Customer retention is much easier than customer acquisition.
- Retaining customers can increase their ROI.
- Customer retention can increase loyalty as well as increase the lifetime value of customers. If online retailers retain 10% of their existing customers, they will end up making 2x the revenue.
Now, what will be the best strategies to keep your customers coming back to you?
1. Introduce an awesome launch strategy for every new product / new offer
Product launch program is a big deal for the advertisement sector. It helps in two ways: customer acquisition and customer retention.
The online advertisements will try for the acquisition of new customers, but during this process, they also help in bringing old customers aboard too.
To retain the old customers, one can use the policy of remarketing where the ads will be displayed to old customers and target audience together.
2. Strategic Seasonal Offers customized for old customers:
Yes, you read it correctly. While one has a business, it is better to have a strategy to deal with the audience and customers. While it comes to deal with old customers, seasonal offers can work like magic. According to statista.com, retail e-commerce sales figures are growing each year in the US during the holiday shopping season. So holiday or festive season can be one of the best ways to effectively implement your remarketing strategies.
To make this plan successful. You have to create a unique advertisement for the holiday and festive season. Having a remarketing list of users who viewed the website during such seasons will help you to target the audience accordingly. Also, the list of targeted customers can be kept and can be used to give a reminder for the following year too.
3. Cross-sell a related product:
If you ever have purchased a product online from a known retail website, you might have witnessed this kind of remarketing approach. The format is, if you have browsed for or purchased a product, you will start seeing the same type of product advertisement on various websites in the Google Display Network that promoted products that are related to the one you browsed for or purchased.
This strategy is known as cross-sell, and cross-selling can also be implemented by remarketing using Google Adwords.
To use strategy correctly, one has to have a list of the customers who have already purchased the product. According to this list, the audience needs to be targeted.
4. Keep the Facebook fanbase strong
Facebook is mostly known for its ability to increase brand awareness and lead generation. Besides, it is also the best tool to ensure customer retention policy and customer loyalty.
Forrester research has found that Facebook fans of best buy are twice more likely to purchase or recommend one of its products than its non-fans. They also found that the average Facebook fan spent $368 at best buy in the year before the survey, and the non-fan tend to spend $150.
To cater to such a situation, one has to define the target audience before advertising on Facebook to grow the specific fan base. One must ensure that he/she is defining the target market not or adequately as 1.2 billion Facebook users cannot be the potential customers. On Facebook, one can easily tune the customers by location, gender, age, likes, interests, relationship status, workplace, education and more.
5. Build engaged customers using promoted posts
Your business’ Facebook page is the voice of your business on Facebook. By making your Facebook page, you can associate with your fans and existing clients, and also, individuals who are keen on your substance. What is more? The more driven in your clients are, the more faithful they are towards you.
The more significant part of your first-time clients are filling their quick needs, and are not interested in being faithful to your image for the long haul—at least for that time being. Nevertheless, if you nurture them carefully with the strategic way, they will turn out as your loyal fellows who will not think much to change their brand.