Reciprocity is a powerful social construct that can be used to increase customer loyalty and retention. According to a Bond study, 71% of consumers who are members of loyalty programs say that membership is an important part of their relationship with brands. The COVID-19 pandemic has changed the way many consumers think about shopping, with 39 percent saying they shop less frequently in stores, while 30% of millennials said they shop more frequently online. To meet customers where they are, consider offering them delivery and pickup options.
Rather than simply selling products, think about how you can help your customers solve their problems and educate them by sharing tips and tricks on how to get more out of your products and services. A Conductor study shows that consumers are 131% more likely to buy from a company that educates them about its products and services. For example, if you have a beauty and spa company, consider creating a blog to share tips on how to make a pedicure or manicure last longer, and also sending an email with those tips to customers who just had their nails done. When done right, this valuable content can show that you care and make customers feel special.
You can also create campaigns that highlight products that are likely to be relevant based on previous purchases or other attributes. Alternatively, you can offer limited-time discounts that may increase shopping urgency. An ActionIQ customer reduced turnover by 20% by attracting inactive customers in this way. Creating a loyalty program can be as simple as rewarding customers on their second purchase or after a fixed amount in dollars. Your store reports make it easy to see who your loyal customers are by dollar value and total number of orders.
You can also opt for automated loyalty applications, which can reward your customers for a variety of actions they take in your store. According to a recent study, 32% of consumers will switch brands after just one bad customer experience. To prevent this from happening, consider using customer surveys in emails, after transactions, or just once. Surveying customers regularly will help you identify trends and proactively resolve issues before customers abandon you in favor of the competition. You can also use your Customer Data Platform (CDP) to invite customers to join your loyalty program. The CDP can draw on a customer's entire history to personalize invitations to join. Attract more customers to your store with automated rewards, messages and promotions in a powerful marketing program.
It's not very common to sign questions or problems with specific people, but showing the customer's name is definitely something that most of them will admire. Creating and sending mass email campaigns or outreach emails is easy, but sending personalized offers to a small group with specific objectives takes longer but is more effective. Most problem customers often ask for big discounts, special requests for improvements, or need additional assistance compared to regular customers. If purchase frequency is the backbone of customer retention, email marketing is the backbone of customer engagement and your set of retention tools. However, from the moment a potential customer is lost or a new customer is added, interest and effort should shift towards new potential customers. Leanne Pratt, its director of digital marketing and e-commerce adds: “There's no doubt that I've seen customers who are inclined to explore new products because they take less risk if they use reward points”.To create lasting customer loyalty and retention strategies, marketers must focus on creating meaningful experiences from start to finish. This includes offering delivery and pickup options for convenience; providing helpful tips and tricks; offering limited-time discounts; creating automated loyalty programs; surveying customers regularly; using personalized offers; showing appreciation for customers; and using email marketing campaigns.