How to Improve Your Customer Retention

It’s important to get new customers, but it’s even more important to keep the new customers that you get. This is called customer retention. Retention accounts for a large percentage of any company’s sales, so you should create a business plan with the intention of getting people to keep coming back. Here are some tips to improve customer retention.

1. Throw a party
Everyone loves a party. Even more, everyone loves to be invited to a party. Invite regular customers to a party or event for your company, and they are sure to feel a part of the team. How could they possibly go to a competitor after you’ve partied together?

2. Discounts for loyal customers
Have you ever felt angry at a company for giving new customers all kinds of discounts without giving their loyal customers anything? Well, don’t do that to your customers! Loyal customers should get rewarded, so set up a reward program. You’ll get more business since your customers will want the reward.

3. Customer service should always be a top priority 
You and your employees need to make customer service a top priority. It starts with you. Create a return policy that works for both you and the customer. Furthermore, you need to hire people who understand how important it is to be kind to customers. You also need to have a very low tolerance for any employees who don’t put customer service first.

4. Reach out to your customers
It’s easy for customers to forget about a business, especially if they’ve only been there once or twice. You also want to keep your customers informed about any exciting new products or sales that can benefit them. In order to keep in touch with your customers, you need to be available on social media. Encourage people to like your page. You can also ask for e-mail addresses. Send e-mails about things your customers might want to know about. Of course, you don’t want to spam them, so keep the e-mails to once a month or so.

5. Say thank you
Every customer should be thanked for shopping at your store. You can do this by putting a sign by the register. You can also tell your employees to thank them. Finally, you can put a thank you on your receipts. It sounds like such a miniscule thing, but it can really keep your customers in a good mood when they leave your store. You want every customer to feel good after they make a purchase at your store.

Your customers keep your business alive, so you want to keep them coming back. These tips are sure to help with your customer retention. Get your employees on board, and watch the sales increase.

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