Top 3 Tips To Improve Customer Retention

Spending a hefty amount in marketing has become an obligation for companies since competition to lure customers is growing stronger in the retail market. In fact, most of the ads that companies are making now days are intended for new customers rather than former or current customers. This clearly depicts that organizations are more focused towards attracting new consumers than targeting current or former consumers, which unfortunately is a not a good strategy.

The research shows that the cost to obtain new consumers is six to ten times more than what a brand spends on retaining an actual consumer. This implies that it's time for businesses to revisit crm program Singapore http://www.edenred.com.sg/prm.html and shift their focus towards retaining customers rather than attracting new customers. Below are top 3 tips that will help businesses in improving customer retention.

1. Quality is Priority

No doubt consumers love speedy checkout and quick solution to their problems, but when it comes to quality, it is second to none. Every customer wants top notch customer service. In fact, a study has found that majority of customers prefers to stick with a brand that offers high-quality service as compared to the ones that proffer rapid evolution. Hence, if a business wants to make its customer return then, it should never compromise on the quality of product and or service.

2. Diminish Pain Points

By enhancing customer experience, businesses can certainly improve customer retention, but to do so, companies need to reduce their customers' pain points. For instance, if your customers have just one channel to gain help then, create multiple channels and reduce customer wait time. The instant access to support team will make their experience more seamless and encourage them to return to you for future purchases too. On the other hand, if customers continue to experience the same issue, not only they will switch to another brand, but they'll share the poor experience with others too. Bad word of mouth can significantly dent your efforts to retain customers.

3. Use Multiple Communication Channels

To offer good customer service, it is necessary that companies should listen to their customers. For example, to communicate effectively with customers, companies need to create multiple communication channels because you never know which channel your customers prefer more. Though, research has revealed that email is still the most popular means of communication for people, but when it comes to highest satisfaction level live chat support is ranked above phone and email support. Thus, instead of picking up just one channel businesses need to effectively communicate on all channels. This will not only shed the load off from the phone and live chat support team but also make more customers happy.

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