Customer retention costs less than acquiring new ones. Unfortunately, many companies fall in the trap of spending a big part of their budget doing the latter. This is not so productive with today’s heated market competition. The following strategies will help your organization with customer retention.
Engage customers
This is one of the most effective, and cost effective ways to retain customers. Customers need to feel like they own something about your product, including experience with it. Whilst social CRM has made this easier, also take initiative to make sure customers are engaged enough to be brand insistent on your products.
Focus on experience
Times have changed and customers no longer just use products- they experience them. You need to take advantage of your customer’s need to experience products with a more suitable strategy – like offering the best service. Using published information like testimonials about new uses, smart product hacks and other strategies can make your product worthwhile for customers.
Connect with your customers
This is only possible if you get to know your customers. Collect enough information about your customers, and use it to get closer to them. Research has shown that businesses that develop a personal relationship with customers have a retention rate of m than 90% of them.
Yonyx enables organizations to create multi-media flowcharts that replace the experience of getting help from a call center agent with interactive self-service.
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