Five simple steps to retain customers and create breakthrough profit

Businesses consider customers as their breath and life source. A start-up business or a sustainable development company must surely attract and retain customers. Attraction of new customers and retention of old customers are very important factors for business development.

Why do businesses need to retain customers?

For businesses, the attraction of new customers is very important to increase the number of customers and create many new approaches for them to have a new and strange look and prefer products. However, this target will only be successful if you have a proper and effective strategy.

Effective strategy retains customers

Beside accessing to new customers, maintain service and care old customers is important too. This helps to resale and receive positive feedback. Enterprise will have more opportunities to expand new customers from existing customers .

How can businesses have an effective customer retention strategy?

Old customer approached and experienced products of businesses. Therefore, if you want to create an impression and let old customers continue using products and services, you have to build new program with unique initiatives.

Calculate customer retention rate of businesses

Calculate retention rate of that customer and determine retention capacity according to the following formula:

Customer retention rate of business

Identify factors affecting that retention

Not all customers will return to use your products, the reason may be that they are not really satisfied with your products, prices or accompanied services. To find the reasons, spend time to review emails, conversations, conduct interviews and collect feedbacks to understand why customers stop using products. Based on those reasons, you will have plan to avoid repeating old errors and change project and product management

Organize programs for intimate customers and make them feel valued

Customers have a lot of purchase options. Therefore, they will feel preference if they own the best service with the best promotion and care programs.

Many actions lead to the purchase. Businesses can create the chain of gratitude programs so that customers feel that their interests are always put on top and stimulate their using demand.

Put customer care service on top priority

Customers will only shows their attachment with a business that values them. Therefore, make sure that all employees in that business treat customers in the best way and create the most memorable positive experiences for customers even if they do not create benefits for businesses.

One more important thing is that as soon as you get negative feedback, you need to solve it right aways. Fast settlement of arising problems proves the professional of your company, this is also the plus point from customers’ point of view.

Maintain contact with your customers

After customers have the first experiences with services and products, the customer care department should keep in touch with them to capture the most objective reviews.

Contact maintenance not only gives customers product information but also share them on tips, advices, etc. The customer service department provides particular methods depending on each characteristic of customers.

Enterprises should devise strategies and solutions to retain customers effectively because the number of customers is finite! 

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