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Tips for an effective online chat: I

These days customers are increasingly using live chat as a communication channel to interact with websites to get instant help in case of any queries. Here are some tips to leverage online chat in order to reassure lead nurturing:

1. Offer a copy of the transcript to the customers:

Customers contact the live chat agents so that their queries are resolved instantly. The whole chat process provides them with valuable information. But, most people don’t record every conversation so this information can get lost or can be rendered futile. So, provide your customers with transcripts at the end of live chat sessions.

Transcripts
Transcripts

2. Include chat button in email campaigns:

This feature allows your customers to provide direct feedback on questions they may have regarding the email they’ve received from you. Emails could be anything from periodic newsletters or follow-ups to individual questions or grievances and embedded chat button along with it provides an ease of instant query resolution.

Embedded chat button
Embedded chat button

3. Provide chat agents with previous chat transcripts:

Providing your chat agents with a chat history for returning visitors allows the agents to come up to speed on issues that the customer discussed previously, and to proactively follow up with any questions. This will hasten up the live chat process and customers will appreciate the fact that they don’t have to repeat their previous problems to newly assigned chat agents.

Chat history
Chat history

4. Initiate an automatic response:

The only way to guarantee a quick response is to accept all incoming chats immediately. Once a customer initiates a chat session, the system should accept the chat automatically and convince the customer that a chat agent will respond shortly. Pre-canned messages can be used to welcome the customer and let him know that action is taking place immediately.

Auto accept chats
Auto accept chats

5. Inculcate pre-chat survey forms:

Pre- chat survey forms allow customers to set the direction of the conversation. They include questions that allow your chat agents the necessary background so they can provide a quick and courteous answer.  The pre-chat survey forms also allow you to quickly route the chat session to the agents who are most qualified to handle the respective conversations.

Pre-chat survey
Pre-chat survey
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Tips to enhance the performance of your support agents: III

1. Arrange weekly meetings:

Arrange regular meetings for knowledge sharing. The basic idea is to discuss and understand the overall experience of your support agents with your clients. Try to understand what obstacles they face while they carry out a live chat with the website visitors, what kind of tricky questions customers may ask and how to resolve their queries. Agents can uncover important techniques of live chat support in this knowledge sharing process. This can aid in improving their overall performance.

Meetings
Meetings

2. Club videos with training sessions:

As a matter of fact, humans are visual learners. They tend to learn things more effectively if taught through graphics and videos. You don’t need to spend extra bucks on video tutorials. There are thousands of useful videos available on YouTube which can be utilized for this purpose. This is one of the best customer service training ideas that gives tremendous results.

Videos clubbed with training session
Videos clubbed with training session

3. Help them know their actual roles:

Yet another concept of your training should be to help your chat agents understand the actual role they need to play in building customer relationships. Educate them about the lifetime value of a customer as well as the consequences of a bad customer interaction. Let them know how the quality of customer support impacts on sales conversion, customer retention, and brand image. Once the support agents have this basic understanding, they will be more efficient in providing top-notch service.

Knowing respective roles
Knowing respective roles

4. Train them practically:

Practicing something practically helps you learn it better. Team up all of your agents and assign them different chat scenarios. Encourage them to try their best to deal with those given situations. Give them enough time to understand the whole support process, your products/services and most importantly, how to manage the live chat software. These practical sessions are very important to cultivate a capable workforce.

LIve chat tutorial
Live chat tutorial
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Tips to enhance the performance of your support agents: II

1. Review your live chat agents’ performance:

Make it a point to review your live chat agents. Their training should include mock chats, secret evaluation and much more. Apart from that, distribute customer success manuals amongst your agents where all important tips and techniques of online customer support have been mentioned in written format. This will help them to go through the important tips whenever they have any doubts.

Customer support training
Customer support training

2. Inculcate tech support along with live chat:

In order to create a power-packed support environment make use of live chat features such as canned messages and links, the ability to push files and screen sharing and co-browsing. Also, train your agents to go slow and ask short, simple questions to get to the root of problems and to make solving them easier and faster. More important than training your agents to provide tech support is ensuring they have the resources they need readily available. Ensure your tech support agents are provided with canned links for knowledge based articles, how-to tutorials, videos and other resources they need to help customers resolve issues or problems instantly. Make sure the agents know how to find the resources quickly and then send them to the respective customers whenever they need them.

 

Tech Support
Tech Support

3. Help them to be platform experts:

LIve chat agents need to have thorough knowledge of the platform they are working on and the tools they are dealing in. When chat agents are familiar with the tools they are utilizing while assisting customers, they perform tasks with a higher level of confidence. Task your agents providing both a customer and organization friendly experience when chatting. It’s important to be fully trained on all customer and agent facing platform features. For this purpose,  customers might be presented with a pre-chat survey while initiating a chat request, which gives the ability to choose the reason for wanting to communicate.

 

Platform skills
Platform skills
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Tips to enhance the performance of your support agents: I

Today’s era is an era of digitization. These days the purchasing decision of any customer is not only based on the quality of your offerings but also on the quality of your customer service and support. Customer support refers to the process of building a healthy relationship with your customers by convincing them that you value them and you are there whenever they need you.Thus, the quality of your support service can improve or destroy your brand image and ultimately your business revenue. So, you need to train your live chat agents with the right customer service skill. Here, we have mentioned some of the customer service training ideas!

Good customer service
Good customer service

1. Good product knowledge:

Educate your support agents about the products and services you provide. Good product knowledge not only improves the support speed but also helps to build a much stronger, long- termed relationship with the customers. If your chat support agents lack the knowledge of products and services you are dealing in, they will tell customers to hold for a while for finding the solution or transfer the chats to a more knowledgeable person, which becomes time-consuming. Therefore having proper knowledge shows confidence and builds trust amongst customers.

Product knowledge
Product knowledge

2. Good writing skills:

Live chat provides instant assistance to anyone visiting your site. Customers utilize the live chat option as it is the fastest way to interact with companies in case they have any queries. A key component of a live chat interaction is the agent’s ability to exercise good writing skills. Utilize the auto spelling and grammar check feature of your live chat platform to ensure efficacious agent communications. Tell them to keep sentences short and to the point. Agents must be able to write as if they were talking on the phone in order to keep the conversation flowing by mixing free form and canned messages. Interject the customer’s name while chatting to personalize the conversation and take care of punctuations.

Chatting skills
Chatting skills

3. Refrain from taking things personally:

There are instances when the customers are not in a good mood and they interact in an unexpected manner. Teach your support agents not to take those things personally. Complaints are gifts from the customers. They contain customer insights and are a great way to know what exactly are their opinions about your offerings and support quality. Tell them not to lie to the customer. If they don’t have the answer just admit it. Ask your live chat agents to spend some more time with the website visitors and dig personal info like customer’s hobbies, liking and disliking and so on. In this way, the conversation will be friendlier and the person on the other side will feel comfortable and relaxed.

Friendly customer service
Friendly customer service
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Qualified and unqualified leads

The sole aim of individuals involved in digital and outbound marketing and sales is to segment leads into, one of two categories – qualified leads and unqualified leads. Leads can switch from one category to the other with the aid of nurture campaigns.

A qualified lead is a potential customer who has expressed interest in a product or service and meets general buying criteria.

Qualified lead
Qualified lead

A qualified lead is a person:

i) with need, budget, and purchasing authority.

ii) Working for a company that meets your customer profile for being a customer.

iii) With a buying timeline that falls within the time horizon of the sales representative’s commission plan.

It only takes a few minutes for a true sales professional to qualify a lead. And lead qualification can be done anywhere at a busy tradeshow or on a golf course, provided you have an efficient marketing team.ave completed, or are in the process of

Basically, qualified leads are the ones which have completed, or are in the process of completing your nurture campaign cycle.

Lead nurturing
Lead nurturing

Qualified leads are in control of their own buying cycle, completing self-education research who have brainstormed and listed their exact needs in a solution. They have a clearly defined budget to work with and are researching solutions within their means. In addition to this, they have low churn rates because they close on their own terms.

Buying cycle
Buying cycle

On the other hand, unqualified leads are the ones who have not been nurtured enough to close their sales cycle. They are often unsure of what your company offers and don’t know what they’re looking for in a solution. Unqualified leads may also be the ones for whom your product or service is out of their price range. Though it is possible to convert unqualified leads into customers, the churn rate is comparatively high.

Unqualified leads
Unqualified leads

 

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Lead nurturing tactics: III

1. Sales and marketing alignment:

For sales and marketing alignment, the shared expectations, responsibilities and goals for this collaboration between sales and marketing should be outlined in a sales and marketing service level agreement (SLA). Creating a formal sales and marketing SLA will help the two teams hold each other accountable for converting leads and effectively nurturing them into paying customers in the long run.

Sales and marketing alignment
Sales and marketing alignment

2. Multiple touches:

According to a research, on average, prospects receive ten marketing touches from the time they enter the top of funnel until they’re a closed won customers. The most successful lead nurturing strategies deliver content that helps prospects progress through the buyer’s journey by addressing common questions and concerns such that they are contented.

3. Maintain permission to keep prospect updated:

Maintaining permission to keep a prospect updated is important because if a prospect loses interest in your messages, they’ll disengage by unsubscribing, marking your messages as spam, or emotionally unsubscribing – reflexively ignoring or deleting your messages.

Keeping prospects updated
Keeping prospects updated

4. Guide your prospects efficaciously:

There is a possibility that a potential buyer who you’re nurturing may not enter a buying process for a long time. But during the lead nurturing phase, if you can educate prospects and guide their thinking to incorporate specific requirements and ways of thinking about the market, your company and solutions will be much better positioned in their minds when they finally decide to make purchases.

Guide your prospects
Guide your prospects

5. Study the Digital Body Language:

Digital Body Language is the aggregate of all the digital activity you see from an individual. Each email that is opened or clicked, each web visit, each form, each search on Google, each referral from a social media property, and each webinar attended are part of the prospect’s digital body language.Just like the body language is read by a sales person managing a deal, digital body language is an amalgamation of all the digital touchpoints. Digital Body Language can help you understand where your prospects are in their buying process. As they progress through the process, they’ll reach a point at which your lead scoring system tells you they’re ready to engage with the sales process.

Digital body language
Digital body language

 

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Lead nurturing tactics: II

1. Build a retargeting audience:

Retargeting is a paid medium.  A retargeting audience may be built in any of the 4 following ways

i) Select marketing content – this is what will be displayed to your audience.

ii) Pixel based interactions – this audience is built by placing a pixel on your website that uses cookies to track online visitors, helping you remarket to them.

iii) Contact list segments – this audience is defined by a segmented contact list you already have in your database

iv) “look alike” contacts –  these are outside contacts who are similar to those who have engaged with you, offering a way to exponentially increase the numbers of impressions made.

 

Building retargeting audience
Building retargeting audience

2. Make timely, well-researched calls:

The best way to convert inbound leads into qualified sales opportunities is a timely followup email or a phone call. When you make a timely, well-researched call to an inbound lead, you know exactly what the prospect is researching based on his/her recent browsing behaviour and you also have enough information about the prospect to initialize a research about the organization they work for and their specific role within the company.

Timely follow ups
Timely follow ups

3. Personalized email marketing:

You can further improve your lead nurturing strategy by personalizing your emails. You can send triggered emails when someone downloads your gated content, clicks on links in your emails, visits certain pages on your website, or when they demonstrate a high level of engagement in order to be in touch.

Personalized emails
Personalized emails

4. Offline marketing:

Offline marketing refers to strategies that utilize offline media channels to create awareness of a company’s products and services. These campaigns may include radio and print advertising – including billboards, signs and pamphlets,telemarketing, and television ads.

Offline marketing
Offline marketing

5. Lead scoring:

Lead scoring is a methodology used to rank prospects against a scale that represents the perceived value each lead represents to the organization. The resulting score is utilized to determine which leads a receiving function (e.g. sales, partners, tele-prospecting) will engage, as per the set priority. Lead Scoring allows a business to customize a prospect’s experience based on his or her buying stage and interest level

Image result for lead scoring

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Lead nurturing tactics: I

Lead nurturing refers to the process of developing relationships with buyers at every stage of the sales funnel, and through every step of the buyer’s journey. It focuses marketing and communication efforts on listening to the needs of prospects and providing the information and answers based upon their requirements.

1. Deliver the right content, to the right people, at the right time:

An efficacious inbound marketing strategy requires strategically nurturing your leads using targeted content. In order to deliver the right content, to right people at the right time:

i) you need to understand each of your buyer personas

ii) you then need to cumulate targeted content designed to nurture each of your personas based on their interests, goals, objectives, and marketing triggers.

iii)  you need to have a marketing automation platform ready to help you identify, categorize and target your unique buyer personas for inbound marketing strategy.

Targeted content
Targeted content

2. Social media:

Social media can be leveraged for lead nurturing as it has the capacity to facilitate something all businesses want most – the ability to engage in 1 to 1 conversations with their target audience.

Social media for lead nurturing
Social media for lead nurturing

3. Remarketing:

Remarketing is a clever way to connect with those visitors to your website who may not have made an immediate purchase or inquiry. It allows you to position targeted ads in front of a defined audience that had previously visited your website while browsing elsewhere around the internet. In other words, it is a form of online advertising
that can help you keep your brand in front of bounced traffic after they leave your website.

Remarketing
Remarketing

4. Multi-channel lead nurturing:

According to a research, almost four out of five marketers say their email open rates don’t exceed 20%. Also, 79% of marketing leads never convert into sales. The main cause behind this poor performance is a lack of effective lead nurturing. Effective multi-channel lead nurturing refers to a technique that most commonly involves a combination of marketing automation, email marketing, social media, paid retargeting, dynamic website content and direct sales outreach.

Multi-channel lead nurturing
Multi-channel lead nurturing

5. Provide a personalized website experience: 

The likelihood of a person engaging with you further is greatly increased if you offer a much more personalized website experience. This can be achieved through smart content. With the aid of smart content, you can deliver content specifically tailored to where a prospect is in the buying process, or content targeted to people the very first time they visit. Smart Content lets you target content based on anything you know about your contacts through research.

 

Personalized content
Personalized content
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How to increase customer lifetime value : Part III

1. Let your customers know how much you appreciate them:

Fans who show their loyalty every now and then by sharing your content on social media deserve to be rewarded, right? So, you can actually embed social media posts from fans who have shared your content or said something great about your brand to their followers. Put them in the spotlight and let them know how much you appreciate them and their efforts. They’ll make your brand a priority, once they see the reciprocity, The most common example is that of Soda Stream.

Soda Stream
Soda Stream

2. Send surprizes to your fans:

Who doesn’t like surprises? So, make it a point to send surprises to your fans so as to show your gratitude. Take a look at their social accounts to see what kinds of things they are fond of, and then send them something you know they’ll love. They’ll definitely share this experience with their friends, family, colleagues, and anyone else who will listen. Make sure that you do a little research and find something unique or, at the very least, different from what most people are talking about rather than sending something obvious.

Surprizes
Surprizes

3. Provide full experience to active customers:

This means keep your fans updated with your products and services. For example, if you have a product line, send them something they aren’t familiar with. If you have a premium service, give them the upgrade free of cost. This is truly the most effective way of increasing the customer lifetime value.

Service upgrade
Service upgrade

4. Acknowledge your customers’ suggestions:

Convince your customers that their suggestions are always welcomed. For this, always leave room for your customers to make suggestions that you didn’t list, and always offer some kind of incentive for participating in the poll. Even if it’s just a chance to win something small like a gift card or early access to an upcoming feature, it will make a huge difference in the number of people who actually participate.

Customer suggestions
Customer suggestions

5. Help your customers with their interests:

You can help customers do something they love. If possible, you may start “sponsoring” customers’ things that they are compassionate about.

 

 

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How to increase customer lifetime value : Part II

1. Manage all communication channels available:

Having multiple points of contact, allows customers to choose the most convenient medium for communication. According to a research, sixty percent of consumers don’t want to be contacted over the phone about special offers, information, and upgrades, while 75 percent prefer contact via email or text message. Social network tools give you the opportunity to connect and engage with your customers at any time of day, as per their convenience.

Managing communication channels
Managing communication channels

2. Offer convenient and affordable services:

Convenient and affordable services make it easier for users to enjoy what they’re paying for. Make sure that your users/customers should spend the least amount of time possible trying to use your product or service, so they can spend the majority of their time making the most out of it.

Affordable services
Affordable services

3. Create brand loyalty:

As per a research, 64% of participants said shared values were the primary reason for maintaining a relationship with their brand. Clearly communicating your brand’s philosophy or higher purpose has become very important to today’s consumers. So, you must choose a technique, which reflects your consumers’ beliefs and demonstrates them through sponsorship, events or anything relevant. Be sure to brand all marketing efforts consistently and keep your product quality high, so consumers keep returning to what’s comfortable.

Brand loyalty
Brand loyalty

4. Be there in your customers’ hour of need:

Being there in customers’ hour of need means holding their hand while the problem is solved, helping them cut through the confusion to find the solution, or getting them directly connected to the person who can help them as soon as possible.

Helping customers
Helping customers

5. Try building long term relationships:

Building and maintaining long-term relationships is a simple, effective method for increasing your CLV. While it may take a little extra time, care and consideration, it’s a great way to leverage your existing customer relationships to boost revenues without simultaneously increasing your expenses.

Long term relationship
Long term relationship

 

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How to increase customer lifetime value : Part I

Increasing your company’s customer lifetime value means:

i) increasing customer loyalty

ii) general profitability

iii) marketing allowance

In order to increase customer lifetime value:

1. Always strive for making your product better:

When you want to build your business on loyal customers and brand evangelists, you have to do something that is beyond mass consumer expectations. As a matter of fact, people love to feel like they have the best thing, no matter what that thing is. Once they feel like it’s the best, they’ll do way more than talk about it.

2. Try upselling and cross-selling:

Upselling means persuading a customer to buy something more expensive or an advanced version of a product. You sell a more expensive model, additional features or upgraded version of something. This adds value to the product.

Cross-selling, on the other hand, means selling a new or a different product/service to an existing customer. In other words, you’re selling additional products to the customer.

Both these strategies are highly effective and profitable when trying to boost the customer lifetime value (CLV) for your business, no matter, what scale or size.

3. Differentiate yourself from your competitors:

You need to differentiate yourself from your competitors in terms of features, services, resources, or whatever else your customers will place some value on.

4. Be careful when choosing incentive schemes:

As a matter of fact, choosing the right incentive structure means your customers won’t be the only ones leveraging the rewards. Utilize your rewards system to increase customer retention, and boost your customer lifetime value without compromising your bottom line. Instead of discounts, offer exclusive products or value-added services. This will further increase your CLV by promoting customer loyalty and increasing profitability in the long-term.

5. Resolve customers’ queries:

Make it quicker and easier for your customers to get their questions answered. Go above and beyond your actual product and give them something that makes their life easier on a regular basis. In other words, you need to understand your customers, figure out what would make their life easier, and build it.

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Types of sales promotions: II

1. Provide free shipping:

Providing shipping that’s free of cost is one of the greatest and most profitable sales promotions! Free shipping and return instill in the customers a sense of security that they won’t lose out if the delivered product did not meet their expectations and they wanted to return it back.

You can always incorporate the shipping cost into your product if you are worried about your margins. You may even think about offering free shipping when a customer spends over a certain amount.

Free shipping/free returns create customer security and make it hassle-free.

Free shipping and returns
Free shipping and returns

2. Implement flash sale campaigns:

Flash sale campaigns are a great way to create a sense of urgency for the customers to buy. Many retailers are now adopting this strategy as a way to sell more products and get rid of surplus stock.

The more successful flash sales are ones that don’t last very long and 50% of purchases occur during the first hour of a flash sale, hence, helping the businesses clear the surplus stock.

3. Entice customers with holiday promotions:

Holiday promotions are the most enticing types of sales promotions as customers always like to spend more on the holidays, making it the perfect opportunity for you to get your brand out there and sell more products. You don’t have to overdo your offers, but enticing customers with slight discounts will always work in your favor. It basically requires your creativity to sell out the stock through holiday promotions.

Holiday promotions
Holiday promotions

4. Offer discounts for spending more:

This kind of deal attracts the customer to buy more of your stock. Giving them a discount if they spend more is one of the greatest types of sales promotions. It may further drive them in the right direction. You don’t have to offer a huge discount, but make sure it’s attractive enough to convert visitors into buyers.

Buy more save more
Buy more save more

5. Run a competition:

Running a competition will not only help raise your profile but every person that enters will then become an email contact that you can try and convert into a sale.

Clever way of triggering sales promotions, isn’t it?

Well, if people are entering your competition, chances are they are interested in your products, so running a competition is a great idea for deepening that interest, particularly for start-ups.

 

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Types of sales promotions – I

1. Reward your customers:

Customers love discounts and stuff like that. Thus, rewarding your customers will help you build a solid base of loyal, long-term customers and it will entice people to shop more at your online store. Providing great customer service is crucial to the success of your business. These days offering a loyalty point system is a popular form of sales promotions.

In this case, the customer can gain points every time they buy and then use their points to get money off future purchases, or if they buy more, they save more.

Loyalty points
Loyalty points

2. Give away freebies:

Giving away freebies not only gives potential customers the chance to test out your product but also entices people to buy your stuff!

Now, the question arises, what to give away as freebies? Well! Branded keychains, bumper stickers, magnets, pens etc. are some options. Customers will appreciate the gesture, feel valued and will think of you whenever they see their branded gift.

3. Add discount to your products:

Offering your products at a price lesser than the regular one is the most popular sales promotion strategy. Adding a discount to your products is possibly the best type of promotion. Customers love to grab a bargain, so it makes sense to offer discounts every now and then to boost your sales. Always consider your bottom line and be sure to not constantly have a sale, as people will just come to expect this as a norm of your business.

Discounts
Discounts

4. Offer virtual coupons:

Offering digital or virtual coupons is an effective sales promotion technique that will make the promotion seem more exclusive and will give the customers more of a push to visit your online store. You should send coupons to loyal customers who have spent a certain amount. You could also consider sending coupons to visitors who have experienced bad customer service. This may help convert them back to happy customers!

 

Digital coupons
Digital coupons

5. Lowest price guarantees:

Price match promise has become one of the most popular ways to promote your brand these days, particularly if you have a lot of competitors trying to leverage the lucrative market. It allows your customers to shop with you and will be safe in the knowledge that if they can get it cheaper somewhere else, you’ll refund the difference and keep your words. There’s nothing to lose for them and it means that you still get to keep a solid, long-term customer base.

Price match promise
Price match promise
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All you need to know about sales promotion

“Sales promotion” refers to those marketing activities that stimulate consumer shows and expositions. It may be further defined as a vital bridge or a connecting link between personal selling and advertising.

Sales promotion

In most cases, sales promotions come in the form of discounts.  As a matter of fact, discounts affect the way consumers think and behave while shopping. Also, the type of savings and its location can affect the way consumers view a product and affect their purchase decision.

The two most common discounts are:

i) price discounts that are provided on sale items and

ii) bonus packs that are provided on bulk items.

Price discounts mean the reduction of an original sale by a certain percentage. On the other hand, bonus packs are deals in which the consumer receives more for the original price. Companies introduce different forms of discounts in advertisements to convince consumers to buy their products.

Sales promotion activities are undertaken to achieve the following objectives:

1. To boost sales by leveraging the media which are complementary to press and poster advertising.

2. To distribute information through salesmen, dealers etc., in order to ensure the product getting into satisfactory use by the targeted consumers.

3. To entice customers to make purchases at the point of purchase.

4. To incite existing customers to buy more.

5. To introduce new products and services.

6. To attract new customers.

7. To efficiently meet competition from others.

8. To check the seasonal decline in the volume of sales.

Sales promotion includes several communications activities that provide added value or incentives to consumers, wholesalers, retailers, or other organizational customers to stimulate sales.

Due to all these advantages, the importance of sales promotion has increased tremendously in the modern times. Eventually, massive amounts of money are spent on sales promotional activities to attract the consumers in our country and also in other countries of the world!

 

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Best customer retention strategies: Part VI

1.Make sure no engagement is left behind:

One of the best things that you can do to improve your customer retention is to adopt a policy in your company that no customer engagement is ignored and a response is sent as soon as possible. There are a variety of tools out there like Mention, Hootsuite, and Sproutsocial which are all great for monitoring social media. You can leverage these tools to increase your customer engagement rates and gain higher exposure.

Customer engagement
Customer engagement

2. CRM:

Customer relationship management (CRM)  refers to practices, techniques, and technologies that companies use to manage and analyze customer interactions and data throughout the customer lifecycle. CRM helps improve business relationships with customers resulting in customer retention and driving sales growth.

CRM systems are further designed to compile information on customers across different channels.

 

3. Set up an exclusive club for your loyal and highly active customers:

As a matter of fact, people like to feel special and considered important. So, that’s exactly what you should strive to do in order to achieve customer retention.

Setting up an exclusive VIP club takes time and money but will help you stand out from the crowd. Also, if done well, and optimized, will bring you positive returns.

Benefits for high performance customers
Benefits for high-performance customers

4. Make the most of social media:

Social media, today, is undoubtedly the most efficacious way of engaging with customers and retaining them. It can play a vital role in building more meaningful connections with customers, so they stay with you longer.

You can keep your customers updated and let them know about your latest offers. Moreover, you can also provide benefits like digital discount cards for following you on these platforms.

Social media
Social media

5. Upgrade your customer experience:

You should keep upgrading your website. You further need to consider these aspects while enhancing your website features:

i) redesigning your website

ii) considering solutions for device compatibility

iii) optimizing the load time

iv) providing easy navigation to customers

v) offering transparency and much more!

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Best customer retention strategies: Part V

1.Measure lifetime value:

There is a huge difference between the one-off profit you might make on an average sale and the total combined profit your average customer represents over the lifetime of their business relationship with you. Once you recognize how much-combined profit a customer represents to your business when they purchase from you again and again,  you’ll realize that customer contentment is the most important aspect of the customer retention process.

The moment you understand how much time, effort and expense you can afford to invest in retaining that customer, you will be in control of your marketing expenditure.

Related image

2. Gifts and premiums:

Premiums are promotional items like toys, collectibles and household products linked to a product, and often require box tops, tokens or proofs of purchase to acquire. Premiums fall into three categories:

i) Free premiums – sales promotions that involve the consumer purchasing a product in order to receive a free gift or reward

ii) Self-liquidating premiums – the consumer is expected to pay a designated monetary value for a gift or item

iii) In-or on-package premiums – small gifts are included with the package.

You can include these goodies into your customer retention plan to make it successful.

Premiums
Premiums

3. Tell your stories through case studies and testimonials:

Testimonials and case studies will facilitate your customer retention strategy further. It will make it easy for you to convince your existing and potential customers. They’ll help you tell your story in an easier way.

Case studies can also act as great content pieces for your blog. Once you have your reviews you can leverage them to do a number of things from increasing traffic and sales to turning them into fully fledged case studies.

Customer reviews

4. Meetups, webinars, and offline events:

You can organize meetups at local boutiques where fans of the service will meet up and have conversations about the different creative projects they are working on. You can also invite experts in your niche to participate and give knowledgeable presentations to the participants.

Make the event an iterating experience so that people can know when the next one will happen and so it will turn into a routine for your fans. Assure that all the sound and other logistics are organized appropriately and beforehand.

Offline events
Offline events

5. Sell over and over again:

Precisely, your selling has just begun when someone makes that initial purchase decision because virtually everyone is susceptible to buyer’s remorse. To lock in that sale, and all of the referrals and repeat business that will flow from it, you need to employ techniques that allay your customers’ fears and demonstrate by your actions that you genuinely care.

You should thank them and remind them again why they’ve made the right decision to deal with you. In other words,  you need to prove constantly that they have made the right decision.

Sell and then sell again
Sell and then sell again

 

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Best customer retention strategies: Part IV

1. Ameliorate your content management:

For making choices between different services or products, people usually go with the products and services which we have heard about from their knowns or came across while browsing the web. Thus, to entice the visitors and ultimately achieve customer retention, you need to produce content which you, yourself would read and share with others.

Moreover, you need to find marketing channels and spend the time to learn how to leverage the numerous free and paid marketing channels out there. Twitter, Google+ and other communities can help you find commonly discussed topics that you can write about.

2. Overcome buyer’s repentance;

Buyer’s remorse is defined as a sense of regret after having made a typically large purchase.

Buyers are usually afraid of 2 different things:

i)Their money was worth more than the product

ii)Their colleagues won’t approve of the product or service purchase.

Therefore salespeople should effectively address buyer’s remorse before its occurrence. The salesperson should be able to convince the customer as to why this is the best option for them. If your customer is not convinced and still wants a refund, try supporting your words with case studies or testimonials that show how your product was able to efficiently solve problems in similar cases earlier.

3. Indulge in live chats or Skype calls to know your customer’s requirements:

One of the most efficacious techniques of creating an impact with your customers is to get on a call with them. This will help you get really useful feedback that you can use to improve your business. Moreover, you will stand out in that customer’s mind and make the impression that you genuinely care about their needs.

4. Make use of the system of unearthing complaints:

As a matter of fact, 96 percent of discontented customers don’t complain. They just walk away! That’s because they often don’t know how to complain, or can’t be bothered, or are too frightened, or believe it won’t make any difference. Whilst they may not tell you what’s wrong, they will tell their friends or knowns.

A system for unearthing complaints can, therefore, be a savior for your business, because customers who complain are giving you a gift, they’re still talking to you. In other words, they’re giving you another opportunity to return them to a state of satisfaction.

5. Send targetted campaigns to your customers:

You can target your customers with personal and optimized marketing campaigns with the help of some amazing email and marketing services. Services like Vero and MailChimp are great for data-driven email marketing and event-triggered email marketing.

 

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Best customer retention strategies : Part III

1. Employ a proactive approach towards customer service:

Instead of waiting for problems to occur, a company that implements anticipatory service can curb problems before their occurrence. And the best way to do that is to employ a proactive approach. Knowing the problems beforehand and being ready with the best solutions helps a lot in customer retention.

Anticipatory service
Anticipatory service

2. Inculcate courtesy system:

A courtesy system refers to a powerful system that enhances the interpersonal skills of your team and changes the spirit of your organization. It involves speaking to colleagues politely and pleasantly and treating them just like you would want them to treat your customers. This will help your team to feel worthwhile and important, which will further result in pleasant social contacts at work. It also motivates them to provide extraordinary service consistently. This results in long termed loyal customers.

3. Be an expert in your particular field:

As a matter of fact, if you know every bit of your business you will likely retain more customers. Your customers will trust you, rely on you for the best pieces of advice, and recognize you as an inevitable part of their business success. All you need to do is inform them of upcoming changes. Also, you need to provide some insightful recommendations regarding their business. This proactive, approach will render customer retention strategies more effective.

4. Do whatever it takes to woo your customers:

Going that extra mile for your customers to provide customer satisfaction is an easy way to build strong relationships. By doing this, you can build some serious long-term loyalty. Moreover, if your clients know you are more than ready to go above and beyond, they will stick with you when competitors enter the lucrative market.

 

Wooing customers
Wooing customers

5. Loyalty Programs:

Loyalty programs are defined as structured marketing strategies designed by merchants to encourage customers to continue to shop at or use the services of businesses associated with each program. In marketing generally and in retailing more specifically, a loyalty card or rewards card identifies the card holder as a member enrolled in a loyalty program. With these cards, customers typically earn the right:
i) either to a discount on the current purchase

ii) or to an allotment of points that they can use for future purchases.

Loyalty programs
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Best customer retention strategies : Part II

1. Reactivate the lost customers:

Customer retention can be easily achieved by dedicating resources to entice your lost customers. You can further regenerate business by approaching them in the correct way, with the correct offer. In other words, reactivating customers who are familiar with you and your product helps increase your sales.

As a matter of fact, re-contacting and overcoming their remorses and convincing them that you still value and respect them will surely result in exceptionally increased sales and boosted customer retention.

2. Utilize computerization:

Automation is yet another customer retention strategy that helps to minimize downtime. It further helps keep clients’ networks performing at their best. Moreover, leveraging automation tools and streamlining repeatable processes, companies can meet their commitments more efficiently. This further leads to customer loyalty.

Automation
Automation

3. Provide an impeccable customer service:

What is an impeccable customer service? – It means moving the product or service you deliver into the realm of the extraordinary. And how’s that done? – By delivering higher than anticipated levels of service to your customers. It includes:

i) dedication to customer contentment

ii) providing instant response

iii) no buck passing

iv) on-time delivery

v) error-free-delivery process

vi) recruiting outstanding people to deliver your customer service.

Exceptional service leads to fortunes in repeat customers, whereas poor service will drive your customers away.

Excellent customer service
Excellent customer service

4. Inculcate customer feedback survey:

As a matter of fact, customer feedback surveys are invaluable for learning whether you are meeting your clients’ expectations or not. So, Instead of comparing feedback across a broad range of customers:

i) narrow the data down to a specific client

ii) see what that client thought

iii) and take action from there.

You need to trend feedback across a period of time. You should track feedback survey in order to compare which areas have benefited and which have not. It will provide you with data regarding:

i) what customers are at risk

ii) which areas of your business need improvement

iii) and where you excel.

5. Avoid ethical shortcuts:

The design, build quality, reliability, and serviceability of your product or service should meet customers’ expectations. The way you handle the small things, as well as the large, demonstrates service integrity. Moreover, customers will be attracted to you if you are transparent with them, care for them, take a genuine interest in them.

Product integrity
Product integrity
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Best customer retention strategies : Part I

Customer retention is termed as a process of inculcating those techniques by the companies that help in the exemption of customer defections. The sole purpose of customer retention programs is to help companies retain as many customers as possible through customer loyalty and brand loyalty initiatives.

As a matter of fact, customer retention begins with the first contact a customer has with a company and continues throughout the entire lifetime of the relationship.

According to a research an average business loses around 20 percent of its customers annually due to customer dissatisfaction. In some industries, this leakage is astoundingly 80 percent. However, following some preventive measures can help curb this loss.

Here we have mentioned some of the best customer retention techniques that will enhance your customer retention significantly once implemented and will have a gigantic impact on your business.

1. Build relationships online and develop trust:

In today’s era majority of people are glued to their computer screens for hours due to those enticing social media platforms. so, connecting with your clients through these mediums can benefit you to a large extent. Majority of your clients will have active profiles on websites like Facebook, Twitter, Linkedin etc. So, it makes sense to connect with your potential customers through such sites. Moreover, trust is crucial in business, and building relationships with clients will cumulate that trust for you.

A study by the African Journal of Business Management found that commitment tends to grow along with trust. So you should take an interest in your clients and their business. Simply providing a service is not long enough. You further need to start building shared values with clients and showing you take an interest in them and their success.

2. Let your interest in the leads be consistent:

Though every business loses some customers virtually, not all of them measure or recognize how many of their customers become inactive. Ironically, many businesses spend lavishly on building that initial customer relationship. Then they leave that relationship unattended, in some cases even losing interest as soon as the sale is made. The easiest way to grow your business is to avoid losing your customers. Once you stop the emanation, it’s often possible to increase your growth rate quite efficaciously.

3. Identify customer expectations:

Set expectations early and lower than you can provide, so that you can eradicate uncertainty as to the level of service you need to offer to ensure your clients’ satisfaction. This technique enables your company to ensure you are always over delivering.

Since clients tend to remember negative experiences, so, your client will no doubt cite a negative experience as a reason to cancel his or her contract with you.

4. Use a rolling calendar of communication:

Building relationships with your customers are not enough! You need to be in touch using a rolling calendar of communications. This is a programmed series of emails, events, phone calls, “thank you’s”, special offers, follow-ups, magic moments, and cards or notes with a personal touch etc. that ensure constantly and automatically at pre-decided points in the pre-sales, sales, and post-sales process.

People not only respond to this in a positive manner, they really appreciate it because they feel valued. It acknowledges them, keeps them updated, offsets customer remorse, augments the reason they’re doing business with you and makes them feel part of your business and that too an important one!

5. Implement a monthly email marketing campaign and start a blog:

Email your existing customers once every month. Touch base with them, keep them updated with your services and share a couple of great articles you believe will help them profit from their business. You should also link to your articles as a way to drive your customers to your blog.

Write a weekly article on something interesting, say, an accomplishment you feel your customers would value. However, you need to be consistent with your blog. You need to start using it as a medium to build relationships with your customers.