The art of customer retention: What factors influence customer loyalty?

The art of customer retention: What factors influence customer loyalty?

Finding a sales lead, negotiations, due diligence and closing a deal – all this process isn’t a new thing for sales professionals and those in client servicing. It takes around 4 to 6 months to seal a deal. Whether you’re approaching an enterprise or a retail client, closing a conversation always causes stress. We always hear that bringing new business sales is tougher than retaining an existing client.

According to studies, it’s up to 7 times more costly to attract a new customer than it is to retain an existing customer. So, what are the factors that influence customer loyalty:

 

Engage your customer: 

Interfacing with your clients encourages you to make a feeling of having a place and network. Offer your fresh out of the plastic new's an energizing improvement, or news and feelings in your space, to get your clients energetic and locked in.

You can utilize online networking to illuminate clients regarding new patterns, exceptional arrangements and limits, and the subsequent stages for your organization. The more it feels like a discussion, the better.

In the event that you urge your clients to turn into your image's fans and cause them to feel engaged with your organization, they're bound to have positive affiliations. Also, connected with clients are upbeat, steadfast clients.

Client dedication is eventually about connecting, supporting and holding the clients who truly make your business.

Put resources into an eye-catching logo structure:

Hues speak to your image's character and give a visual articulation to the inclination, temperament or job your image is attempting to summon.

Considering that, try to pick your shading palette well. The shading red, for instance, utilized in Youtube's logo, causes watchers to feel dynamic, enthusiastic and energetic about the brand…

Making a typical shading palette will join the substance you put out and make some brand acknowledgment once you've been advancing it reliably. The plan of a brand's logo has gotten so imperative to brands who need to shape an association with their clients that top organizations, for example, Pepsi have spent an astounding $1 million on their new logo while BBC dished out $1.8 million for their new logo.

 

Great products:

A great product which you keep innovating with new features will always help to increase customer loyalty. For example iPhone Whenever Apple rolls out a new version of iPhone, it comes with a slew of new features – both technological and software. It basically focuses on areas that adds value and allows loyal customers to renew, upgrade and never leave. Satisfied customers become a campaigner for your brand, which in turn advocates your business.

 

Customer Service:

Did you know that 68% of customers leave because they are unhappy with the service they receive. (source: https://www.dmn3.com/dmn3-blog/5-critical-factors-that-drive-customer-retention-strategies). That's why for any business, proactive customer service is important as it is a step ahead in building customer loyalty. It's a great way to delight them.

 

Rewards:

Want to encourage repeat business? Rewarding customers for their loyalty will make them more likely to engage with your brand. A loyal customer will always be happy to receive rewards from their favourite merchants. The rewards can be given via social, an emailed coupon or a mobile app.

 

Online Content:

Social media is a great way to keep existing and potential customers updated on a regular basis. This allows customers to explore new facets of your brand, products/services, values or any other offers. Promoting them on social media is the key. This keeps existing customers interested in your products.

 

Create awareness about your brand using social media influencers:

One of the manners in which brands can construct devotion is by having superstars advance their item or administration. In any case, with regards to promoting your commitment with your clients and building your image's dedication, going to influencers via web-based networking media channels might be a more secure wager,

Influencers will need to have a cozy relationship with your image, get insider data on what's coming up, and an opportunity to impact your item advancement. Stages like HYPR permit brands to distinguish influencers who are in contact with their careful crowd socioeconomics and connect with them.

 

Personalized emails:

Though social media has taken over the traditional marketing thing, email marketing is still considered as a great way to stay in touch with existing customers. Sending regular emails helps them to reconnect with your business.

A trusted relationship with your customers ensures that your brand taps new prospects recommended by your current clients, hence opening increasing the chances of growing customer base and capturing sales.

Would you like to grow your business sales? We will tell you how. Futurescape Advertising is a leading advertising and digital marketing company based in Navi Mumbai.

Finding a sales lead, negotiations, due diligence and closing a deal – all this process isn’t a new thing for sales professionals and those in client servicing. It takes around 4 to 6 months to seal a deal. Whether you’re approaching an enterprise or a retail client, closing a conversation always causes stress. We always hear that bringing new business sales is tougher than retaining an existing client.

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