6 Proven Methods to Encourage Returning Customers
Let’s face it. Staying competitive in the digital age is no easy feat, especially when brands are constantly trying to convince consumers that their products are superior to others’.
While it is not wrong for businesses to focus a great deal of their marketing efforts on attracting new customers, it is equally if not more crucial to nurture the ones they already have. After all, customer retention has been proven to be much simpler and cheaper than customer acquisition. According to a study by Frederick Reichheld of Bain & Company, increasing customer retention by just 5% can result in profit growth of up to 95%!
With these statistics in mind, we have compiled a list of the best customer retention strategies that e-commerce companies nowadays are using to inspire customer loyalty. From offering membership programs or referral programs to prioritizing customer service, we will cover a range of tactics that can help any business succeed.
Retain Customers with a Smooth Onboarding Process
The importance of onboarding has long been underestimated in terms of its impact on customer retention. Even today, many HR professionals still regard them as two separate processes that have little to do with each other. In reality, however, onboarding represents a make-or-break-process — one that can ultimately retain customers and reduce consumer churn down the road. It is critical to set customers up for success from the start as 86% of surveyed customers said they would stay loyal to a business that actively welcomes them.
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