Post-sale education programs
Customer loyalty programs
Incentives
Referral Programs
Customer Reviews
Marketing Automation
An effective customer retention program includes these six tactics:
Post-sale education programs
Education adds value to a product after the sale, canada numbers list shows commitment to an ongoing relationship, and distinguishes your business from the competition.
When a customer realizes you're providing additional content, they're more likely to re-engage and brand loyalty improves. Some examples include training videos, support forums, FAQs, and blog content . Certain post-sale education programs are called customer success programs and may include an upsell or add-on component.
Customer loyalty programs
Reward repeat customers by offering points or benefits that they can redeem for discounts, products, or other rewards. Loyalty programs cement the bond between the customer and the brand. They say to the customer, “We value your repeat business.” Loyal customers translate into a higher retention rate and reduced customer churn.
Incentives
Examples of incentive-focused retention strategies include freebies, downloads such as digital loyalty cards, and special pricing for current customers. Incentives improve the rate of repeat business.
Referral Programs
Reward existing customers with discounts, points or cashback for attracting new customers. A strong and effective referral program reduces your customer acquisition costs.
Customer Reviews
Data from surveys, polls, comments, customer complaints, and reviews are indicators of customer satisfaction, which come from how well your customer service team is performing. Collecting survey and review data is the first stage of the customer feedback cycle, leading to analysis of behaviors and preferences.
In turn, this leads to better customer experience management. Analyzing feedback data can help you reduce churn and increase repeat business.
Marketing Automation
Technology automation can optimize retention strategies in several ways: updating customer data, tracking purchasing behaviors, managing loyalty programs and tiered incentives, and collecting feedback.
Strategies look good on paper, but you’ll need to analyze performance to know if you actually have a solid customer retention strategy. This is where customer retention metrics come in. The eight retention metrics that determine whether you’re retaining (or losing) customers are: