Customer Retention Strategies That Will Make You Rich!

customer retention strategies

Have you ever wondered what kind of magic companies hold over their customers to keep them coming back again and again? What is the secret that they're keeping that makes their customers not only loyal to their brand, but also gets them ranting and raving to their friends about how much they love it? Want to keep your customers coming back more and more often than you ever dreamed? Well, stay tuned and you'll find out all of the evil tricks I've learned along the way. The wonderful strategies that I personally use in my own businesses are dear to me, so if you use them, make sure to let me know your results! You'd be surprised at a few, and probably not so much as others. Either way, it's useful information!
When starting a business, getting those first few customers is such a liberating experience. It's also interesting... how no matter who we are, we're always amazed that people are shopping at our store or our e-commerce website. In any businesses infancy, the business owner is always wondering how he or she can attract new clients and new business. So much, that they forget all about businesses core strength, customer retention. When thinking of ways to bring back old customers, many business owners are consumed with confusion. They aren't sure what to do, without being cheesy, and they especially don't want to come off desperate.
Luckily, there are ways to show your customers you appreciate their business. When customers know that they are more than a number or a dollar amount, they tend to be especially loyal to a business or product. Over the past few years, I've noticed a dramatic difference in my own businesses when I shift some of my focus from obtaining new clients to bringing back the ones I previously had. The following are some of the strategies I personally use in my businesses:
Show them you appreciate them: There's nothing better than being shown appreciation when you are loyal to a certain brand or store. I remember my first time shopping at Sephora. It was already such a wonderful experience,their store is so user-friendly.. but then..... a FREE GIFT is shown to me as I am on my way to check out. I even got to choose my free gift! Although the free gifts are usually small, like samples they probably get to free anyways... I still felt special. You too can show your customers how you appreciate them, by making them feel special with free gifts, or possibly a discount on their next order with you.
Make them feel like they're apart of something exclusive: There's a little snob in all of us that likes to feel like we're apart of something snazzy (yes, I really just said snazzy), or that we have access to things that others don't. This gives us that sense of belonging, and being a member of something also stems from our childhoods... when we created clubs with our friends, and then eventually were kicked out of it by that one dominating club member who disagreed with something we did. Of course, this won't happen with your club.. you can create memberships that offer special deals for members, or even access to products before those non-club member people can purchase them. I love being apart of something, and this gives word-of-mouth a chance too, because it creates loyal fans of products and services.
Stellar Customer Service: This is a given, but in the end, it really is a huge determining factor in your businesses success. If there is a problem with someone's order, don't simply correct it and apologize... give them something for their trouble! Offer them a free product or a discount on something else! Have them receive a call personally from the owner apologizing, and letting them know that this is not how your company normally operates. Give yourself a chance to redeem your business, and turn disgruntled customers into raving fans. It CAN BE DONE, trust me!
Newsletters and Mailing Lists: Mailing lists are obviously an integral part of customer retention, but you may not realize how powerful of a tool it really is. In the beginning of one of my first businesses, I offered a mailing list sign up, but didn't focus too much on it. I believe the sign up link was even on the bottom of the website... which is a horrible move anyways. I decided to focus more on my mailing list... I moved up the mailing list sign up area, and even re-designed it a bit. With this one move, my retention rate increased by 40%. Getting people to sign up is one thing, but giving them a reason to sign up is even more important. Let them know they'll be among the first to access a certain product, or they will be given some kind of special privileges. Mailing out weekly and monthly newsletters is also very important. Make sure you take the time to make your newsletters look presentable, possibly even having it designed by a professional web designer. Design it with SALES in mind, and you will definitely sell.
These are just a few things I do to keep my business's old customers coming back again and again. Customer retention has been proven to be MUCH cheaper than obtaining new clients, so make sure to always keep your focuses balanced between the two. Your bank account with definitely thank you in the end!

Terra Andersen is an Entrepreneur, Industry Veteran, and an Internet Business Consultant, with over 12 years of Internet Business experience behind her. With expertise including CRM, e-Commerce, User Experience, Internet Marketing, and Branding. View more of Terra's high-powered advice at http://bitly.com/WHEVce