How to increase the customer retention

4 min to read

Working on business growth is critical and based on a new users engagement.
So, what is customer retention?
It's any activity or strategy that helps businesses to:
- increase the profitability of each customer
- convert first-time buyers into repeat customers
- prevent customers from churning

Following are several ways for improving customer retention:

Light onboarding process.

Converting a new customer into a permanent client of your brand is a thorough process. The first touch makes the most powerful impression, so that's the point where you can catch or lose your customers.
Pay attention is it comfortable to use the web or mobile platforms for your services. This starts with a user-friendly website (that works seamlessly on mobile, too) and a personalized experience that gives your new customers everything they need to start using and getting value from your products or services.
Particular industries, especially those related to finance, have difficult forms for authorization. In this step, such platforms have low retention rates. This problem could solve open banking technologies and customers successfully verified in three clicks.

Narrow focus on customer retention

A strong sales team - it's one of the most important things in raising revenue. By focusing on the sales funnel and new leads, you're missing already engaged customers.
You need t to be sure you're communicating with leads at all stages.
Remember that working with already existing customers is 2x timeless expensive as working with cold leads.
Things that could help you with faster communication - it's a live chat on your website, chatbots, and pop-up forms.

Reward your existing customers

What rewards you can offer your clients? Think about small benefits, it can offer special discounts to first-time buyers, and create a customer loyalty program where people can collect bonuses and convert them into a discount. It's also easy to embed referral links into your social media and email newsletter outreach, drumming up new leads while rewarding existing clients at the same time.

Make it easy for returning customers to make further purchases

Making new accounts usually repels potential clients. However, filling in forms helps save time for making repeat purchases. You can strike the right balance by enabling an account sign-up form after the first purchase has been completed. This allows guests to checkout without being pushy.

Improve your returns and refund process

With no concrete way to try before they buy, online shoppers return products at a rate of 30%, in comparison to brick-and-mortar shoppers at 9%. Most online shoppers check a company's returns policy before making a purchase. To keep your customers happy you'll need to remove pain points from the returns process.
Make sure your return policy is clearly stated at multiple points on the website, including on your checkout page. You can include a pre-printed return label and offer free shipping for added convenience. It's also important to make sure the customer receives the money back in their account with minimal delay.
All the above will help you increase customer retention and will help you with your brand's web and mobile app.
Tetiana Holovchenko
Co-founder, Marketing Manager at CookieDev
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