Some More Customer Retention Strategies for Your Business

In a previous article, we looked at some of the basics of customer retention, and why it is important. We learned that even a five percent increase in customer retention can lead to a significant increase in sales and the bottom line. And we learned about the use of language in customer retention, using pleasing words and reframing potential negatives. Now let’s take a look at some more customer retention strategies.

Reciprocity is our buzzword for this post. It means giving back to the customer, and going above and beyond for them in customer service. It doesn’t mean giving steep discounts and free merchandise away at every turn—that would negatively influence your bottom line. Instead, customer service experts recommend the “frugal wow,” that is, small tokens of appreciation. And it is also recommended that these “frugal wows” be given as surprises, as this creates a more pleasant atmosphere. Finally, when it comes to reciprocity, make it personal. This doesn’t mean tailoring your give back to the customer’s personal needs, but making them feel like the service is personalized towards them. A survey found that wait staff who bring an extra set of mints to dining patrons can see a sizable increase in their tip—simply because they went the extra mile. There are many ways to go above and beyond for your customers—and the sky is the limit!

Yonyx enables organizations to create multi-media flowcharts that provide customers an interactive self-service experience similar to interacting with a live Agent.

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