www.omnepresent.com Customer Retention Tools For Business By OmnePresent
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www.omnepresent.com
Customer Retention Tools For Business
By OmnePresent
www.omnepresent.com
Customer Retention Strategy
● Customer retention is the act of getting more customers to stay loyal to your brand or business
● Customer doesn’t owe you his/her loyalty, you have to earn it
● Having an effective customer retention strategy, gives you ability to turn one time customers into loyal, repeat purchasers that buy more, more often
● It’s easy to retain customers than acquire new ones
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Why?
● The primary objective of marketing is to keep customers engaged and interested in products and services
● For growing a sustainable business, customer retention is incredibly important
● It plays a relatively major role in helping a company grow a healthy bottom line
● It boosts profitability while encouraging repeated business which drives a sustainable long term business model
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Customer Retention Tool- Loyalty Program
● It is best for stores with repeat purchasability
● A loyalty program is the best way to boost customer retention
● When a customer is given additional value (like points, discounts, coupons) for shopping at your store, it becomes much more difficult to choose a competitor for their next purchase
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Customer Retention Tool-Gamification
● It is best for those companies whose target customers are young audience
● Now a days application of game mechanics is not just limited for mobile apps and video games
● With gamification you can encourage customers to complete actions by making it more enjoyable
● It will help you to stand out of competition
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Customer Retention Tool- Personalization
● It helps to increase customer retention through more relevant and tailored experiences with the brand
● Collect information about your customers which you can use later to make recommendations and tailor promotions to each customers individual needs
● A easy way to use it, is through email● You can mark emails with personalizations
such as name and company with email service providers
● When customer is addressed by name with content they care about, they will be much more loyal to your brand, store
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Customer Retention Tool- Support System
● You can't create a tribe of loyal customers without an exceptional support system which keeps them coming back
● The first benefit of support systems is that it provides service and satisfaction to customer
● It allows you to address and resolve customer issues and conflicts quickly and efficiently
● You can use help desk or live chat to engage customers in real time
● Customer connections lead to retention!
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Customer Retention Tool- CRM
● CRM-Customer Relationship Management● It is a backbone of a complete customer
retention strategy● A CRM tool is used in addition with other
tools on this list to provide customer retention strategy
● With CRM you can provide an amazing customer experience by keeping track of their entire journey at one place
● You can also track which customers have earned points in your loyalty program or which customers have received which badges with your gamification tactics
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Conclusion
● Companies that focus on customer retention will be more profitable and more sustainable than those focused on always acquiring new customers
● This strategy is a leading indicator of consumer repurchase intentions and loyalty
● It reduces customer churn and adds point of differentiation
● It increases customer lifetime value and also reduces negative word of mouth
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