Your customer retention strategy is about keeping the customers you’ve invested in to acquire. And if you’re in an industry where your customers make multiple purchases over the years, your entire team should be very focused on retaining those customers.
Evolving the Art of Customer Engagement.
For sales organizations, customer engagement is about more than touch points. It’s about everything that happens in between personal and digital encounters. Customer engagement requires an organization-wide commitment to creating meaningful connections, building relationships, and nurturing those relationships to establish trust and keep your brand top of mind.
“Top-performing sales organizations are prioritizing digital transformation to unlock greater revenue growth.”
Create More Multi-Buyers.
One of the best ways to improve your retention is to turn your one-time-buyers into “multis”.
To do this, analyze the behavior of your current multi buyers. Get customer feedback. Customers follow standard purchase behavior. You may find that most multi-buyers execute their second purchase at a standard average time after their initial purchase. The technical term for this is the “second purchase latency”.
The more you know about your customers, the more you can tailor your approach to each individual.
We have the solution to let you view a customer’s purchase history so that you can determine what kind of offer will be most appealing to each individual and increase relevancy, which will keep your brand on your customers’ minds.
Let’s say you want to follow-up on the customers who showed their interest in your product, but haven’t bought anything from you. Identify ways to convert their interest into an actual purchase by offering them special discounts or some additional value to your product.
You can create a list of all open sales activities and compare that with a list of all contacts that are subscribed to your newsletter. The result is a list of contacts that are interested in your product but so far, have not initiated a sale.
We All Want to Grow, Faster.
It doesn’t matter if you’re selling tens of millions’ worth of product, or a small business just starting out.
Businesses need to take a proactive role in retaining clients.
Making the most of your existing customer base and capitalizing on every opportunity to maximize revenue are some of the best ways to make your business more profitable.