Once you’ve spent effort and resources acquiring a customer, the next step is to make sure that person stays loyal to your company and returns for more of what you have to offer. Customer retention programs are designed to generate and reward repeat purchases and keep interest in your products and services high.
Here are some ways you can use customer retention programs as a marketing tool that will benefit you and your most loyal customers.
- Balance cost and benefits: Your customer retention programs should be attractive to your most faithful fans, but should also be beneficial to your business while remaining as low-cost as possible. The most effective types of customer retention programs are designed to generate leads and referrals while keeping your name in front of your customers.
- Get the word out: Make sure your employees know about the program and how to set customers up with the program. Let your customers know about it through newsletters, flyers, email or social media. If you’re doing a rewards program, the more you promote it, the more people will join.
- Try something creative: Many customer retention programs offer discounts, rewards, or additional products once the conditions of the program are met. These are effective, but a more creative approach can make your business stand out. Look for a creative hook that can make your program different and attractive. In addition to the usual discounts or products, for example, offer T-shirts, mugs or the chance to win something of value.
- Collaborate with another business: Partner with another business to expand your range of promotions and rewards, and split the cost of the program. Cooperation between companies provides opportunities for cross-promotion and gives you access to out-of-the-ordinary rewards at a reduced cost.
- Update the program regularly: Keep interest in your customer retention programs high by making frequent changes and updates. For example, offer a free service for customer referrals or a good-natured competition for rewards among customers. Changing and revising your program gives you a legitimate reason to promote it regularly.
Could you use customer retention programs to boost your marketing goals and increase customer loyalty?
Image via Shutterstock.com