This article will summarize about the customer retention strategies where customers themselves turn into brand promoters and help in lasting growth of the company.
Setting up a company, evolving it to form as brand and then retaining the brand name is a challenging task. It is not one-day job but consistent warm approach towards customers, which enable the brand to retain its goodwill. Companies are often seen in involving sales and advertising strategies to garner new customers but it is important to understand this commonly made mistake.
It is important to understand that existing customers are more important and act as an important carrier of spreading the word about brand. They can act or used as brand promoters who give feeling of more credibility or trust to the targeted customers.
Fact: Do you know that it costs around business 5-25X more to procure new customers than it requires to market to existing ones?
Study reveals that it is more feasible for brands to spend upon existing customers who also spend 67% more than the new customers.
So, here we have important reason to understand the preferences, requirements and methods to attract existing customers than to invest upon new customers.
How should you turn customers into brand promoters?
Customer Loyalty Solutions is the tool or method to smartly understand the preferences of existing customers and target them with right approach.
Loyalty Card: Loyalty card acts as a tribute to the loyalty to the customers, for their consistent belief in the brand and getting reward for the same that gives them relevant benefit. Membership cards or other kind of such benefits to loyal customers is a true reward for loyalty and if the benefits provided are relevant and useful then customers will they boast about the brand as their own and will attract other people of same interests too.
VIP Benefits: VIP benefits give exclusive and superior feeling to customer who are loyal for their loyalty and give them feeling that they are part of the brand. It will give them feeling of being special and they would love to share this feeling with their friends, family and acquaintances.
Discounted Rewards: Customers love to get discounts or off on their purchases and offering discount rewards to the loyal customers is something that they deserve. Offers of free products, vouchers, and other benefits, which customers can redeem easily and are of relevance to them, should be provided.
Customized Perks: Customized perks like giving special offers on birthdays or giving some gifts, providing some extra benefits or service that is useful for particular customer serve best.