Customer retention means when your website has the ability to take your customers back to your website. Your brand should be pleasing to your existing customer so that your customers stay with you rather than switching to any other competitor.
Customer retention is very important for your website to have a good customer retention rate as 68% of sales come from existing customers.
So, let us have a look at the most trusted tips to improve customer retention.
- Close the loop on customer feedback: it is very important for you to understand the sentiments and likes or dislikes of your customer so that you can refine your approach and meet their needs. One of the best ways is to gather feedback from your customers. You should also customize the “thank you” message on your survey so that your customer feels like you are listening and using their feedback to improve.
- Quick response to customer queries: data shows that when you will give quick replies to your customers, it will result in higher customer satisfaction. No matter whether you can resolve the problem timely or not, you should reply back to your customer quickly so that you may get a good customer retention rate for your website.
- Build trust through relationships: as we all know that a successful business is built on trust. The business will die if there is no trust among the people who are involved in the business, i.e., you and your customer.
- And the moment your customer will realize that you are not trustworthy, they will switch to some other competitors. So, never give a bad experience to your customer.
- Reward promoters and loyal customers: if your customer will not feel appreciated, they will change their source from you to your competitors. So, it is the best option to increase customer retention when you will reward them or surprise them like on their tenth or twentieth order.
If you are gaining new customers, it is very beneficial for your business growth but if you are losing your permanent customer, it is very expensive for your business as the average value of losing a customer is approximately high.
An existing customer always provides you a great opportunity to increase your profit, therefore, you should keep a good relationship with them to get a good retention rate, as more retention rate means more profit to your business.