What can be better than acquiring a new customer? Successfully retaining the old ones! New businesses all want to attract new customers and grow business, but they often tend to forget the most important part – keeping the ones who are already there. According to a recent study from Belly, having customers return continually will help increase ROI in the long run. Who does not want that?
In such a situation one cannot help but look up to the customer retention strategies of the greats to implement in their own companies. Here are five business giants and their brilliant ways of retaining customers:
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Starbucks: just add a pinch of convenience!
The coffee giant relies on more than good coffee and instagrammable posts for their customers to keep coming back. Of course, the hype with Starbucks coffee is understandable, but what’s behind that hype? Their innovation when it comes to customer empowerment! Customers can now use their Mobile Order & Pay feature within their official app to order their beverages even before reaching the shop. The simplest point to keep in mind is to make your products more accessible and one might even use traditional methods as the tool of empowerment!
Tesco: the personal touch
Supermarket giant Tesco needs a little more than just the strong hold over its customers to retain them. Even though we all like our apps and technology, sometimes a personal or a human touch is what we crave. And for this very reason, Tesco has chosen the Twitterverse to provide better customer service. They show they care by adding personality to their interactions with customers.
This process can be started by identifying your customers and talking to them on their preferred channel of communication and by encouraging customers to speak to you.
Apple: become the obvious choice
Remember the Mac vs PC ad from the late 2000s? Well, this tongue-in-cheek ad did create a lot of stir by showing the viewers the apparent distinctions between the two types of computers in the wittiest way possible. It sought to divide the market and set Apple apart from their competitors. The takeaway point here is to stay true to who you are as a brand as it will show integrity on your part and help attract customers!
Amazon Prime: use of subscriptions
Amazon Prime brings with itself a certain sense of exclusivity. Customers subscribed to Prime, apart from getting their goodies delivered before time, also gain access to other perks including sales, price drops, video streaming, etc. Providing benefits in the form of exclusive content is another way to leverage this customer retention approach without spending a ton. Just be sure to provide your customers with what they want.
Coca-Cola: user experience
The popular beverage brand had been seen going out of its way in order to create user experience that sought to produce positive influence on customers back in the 2012 Summer Olympics with its ‘Coca-Cola beat generator app’, where they made unique music and beats using sounds and samples from the games that would later be shared by the users. This garnered significant positive publicity for the company around that time. Look for ways to create positive feelings in the form of new experiences outside of your main products.
Having loyal customers is what will sail your boat, and failure to pay attention to them will lead to some harsh consequences. So, the task of acquiring new ones and keeping the old ones is a tough job that requires balance.
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- Customer retention
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- customer retention strategy