The goal of any business is to generate sales. Every sale is a win. But how do you keep customers coming back for more? The answer is simple. Create a customer retention strategy and be vigilant about its implementation.
Customer retention should be the main focus of your marketing goals. Even a five percent increase in customer retention can increase profits from 25 to 125 percent! In order to create lifetime customers, you will need to employ the following strategies to boost your customer retention rates.
Content Marketing = Better Reputation
The process of building customer loyalty is more than just getting them to buy your product. It is important to take it one step further and provide potential and existing customers with interesting content.
Resources: A great tool to aid in customer retention is adding a resource center to your website. This section is dedicated to common questions customers may have about your products or services. For example, you can feature articles on the differences between types of wood, or the correct tool to use for each kind of home project.
Blogging: By featuring a blog on your website, you are giving your company a chance to shine based on its expertise in your field. You can feature articles about the latest trends in the building materials industry, success stories from previous customers, or news-related posts. This gives you the chance to educate your customers, without sounding overly promotional.
Social Media: Social media has become one of the biggest players in new marketing trends because of its ability to reach customers and build relationships with them. You can easily share updates to your blog via your social media sites, interact and answer customers' questions, and provide useful content that your followers will want to share with others.
Email Marketing: This is another very effective marketing tool. Email marketing allows you to build relationships with customers, drive traffic to your website, and provide them with informative content. Loyal customers will feel valued when they are provided with content that matches their needs and can solve their problems.
Provide Excellent Customer Service
According to Oracle, 20 percent of revenue is lost each year due to poor customer experiences. In addition, nearly 68 percent of customers leave an establishment due to the poor service they have received. This makes it clear that how you relate to your customers, whether they are happy or disgruntled, plays a huge role in customer retention. One of the best ways to prevent, and settle customer complaints, is by utilizing new technology.
A great way to do this is by including social media as an avenue to answer customers' questions. Almost half of social media users seek out customer service through a company’s social media sites. You can also tailor content for your customers in the same way Amazon does after someone makes a purchase.
Suggest other items they might like to purchase or direct them to helpful DIY videos in your resource center. By staying ahead of the game, customers are likely to have less complaints and return to your business for future purchases.
Create a Loyalty Program
If you don't have one in place already, a loyalty program is another excellent way to boost customer retention. 76% of consumers believe that loyalty programs play a huge role in their relationship with a brand. Make your rewards program easy to use.
Automatically display how many points or coupons they have when they log in to make a purchase, and follow-up with their newly acquired points immediately following a purchase. Analyze the needs of your customers and provide them with the rewards they want most. This can include coupons, free shipping, or complimentary gifts.
The only way to increase customer retention is by establishing a relationship with your customers based on trust. By utilizing these strategies, your company is sure to increase its building materials sales and boost its customer retention rate.
