Businesses today often spend a huge amount of money to find new customers without knowing that old customers are the important factor in helping businesses increase sales and revenue. Below are 4 strategies to help you retain old customers effectively:
1. Provide personalized experiences
According to the “2021 Getting to Know Your Customers” report from Khoros, 68% customers will increase their spending with a business that they feel understands them and meets their individual needs. Because whether it is a buyer-seller relationship, customers want to be shared, understood and have their real needs met, not communicated with a vending machine.
Personalized experiences for your customers start before they contact your Business, continue throughout their entire interaction with your company, and can even last long after their interaction ends.
Example of a business that successfully delivers personalized experiences – Amazon:
Amazon knows a lot about their customers based on their purchase history, so they personalize and offer customers special deals based on their interests. This type of personalization not only increases customer satisfaction, but also drives loyalty and repeat purchases. “Put the customer first. Invent. And be patient.” – Jeff Bezos, CEO of Amazon
According to research, more than half of online shoppers believe that retailers who personalize their offers provide a valuable service. Interestingly, 45% consumers are more likely to shop on a website with personalized offers than on a website with personalized customer experience.
In the era of technology explosion, businesses need to focus on effective multi-channel customer care. Because customers no longer stand still for businesses to reach them. They will interact with businesses in many ways. Many forms and many different tools. If businesses do not realize and adapt to that, the opportunity will be given to competitors.
Specifically, the reality shows that users can start their purchasing journey on different channels, then move from one channel to another. This requires businesses to always grasp the needs of customers on this channel, how the needs change when they move to another channel? Which channel are they still hesitant to buy on? Which channel are they having trouble with? Which channel are they leaving and which channel are they buying on? From there, it is easy to come up with solutions to improve, resolve complaints promptly and accurately, and implement campaigns. Remarketing (For example: Retargeting ads), and most importantly, understanding customer behavior and insights.
Learn more about implementing omnichannel customer care HERE
Hotline, VideoCall, Website, social networks Facebook, Zalo, SMS, Chat, Email... are popular channels in Vietnam that businesses should synchronize to support customers (at least 3 channels).
3. Build a loyalty program
This is a strategy that allows businesses to provide customers with timely incentives based on their previous purchasing habits. Good customer care is serving customers in the most dedicated way to help customers feel satisfied with the business's products. When customers are satisfied, they will also have good reviews about the products and services and your business.
Customer care seems simple but brings many benefits to businesses. This is an activity aimed at old customers who have used the business's products and services but has a great impact on the purchasing decisions of potential new customers.
Some suggestions for loyalty programs: Accumulate points, Redeem points – Redeem gifts, Give birthday/holiday gifts, Appreciation events, Coupon/voucher, Gamification…
4. Listen to customer feedback
This may sound obvious, but it is very important. Not every business can do well in listening and remembering all the wishes of customers and providing smart advice. Businesses need to be sensitive and predict the reactions of customers when the solution/product is proposed to show empathy with customers. Empathy and understanding help the process of identifying Pain Point - customer pain with a high accuracy rate, from which businesses can provide appropriate and timely solutions.
Some effective methods of collecting customer feedback today, businesses can refer to:
- Customer Survey
- Observe and learn why customers buy – or don't buy – your products.
- Role play mystery shopper, collect feedback from customers and point of sale teams
- Customer care: regular interaction and deep understanding of customers
- Collecting Feeback from Social Media – A Quick and Easy Way to Collect Customer Feedback
Customer Feedback – Businesses should have activities to receive feedback from customers.
Gaining trust and establishing good relationships with old customers is also an important key to finding new customers. There is no more genuine and trustworthy advertisement than from customers who have bought and used the business's products/services. Among many ways to increase revenue and reputation in the market, this is considered an extremely effective, cost-free "word of mouth marketing" that many businesses wish to have. Hopefully, the above 4 strategies will help businesses have more ideas to implement old customer care!
