Loyal customers are a lot more likely to buy more than new customers. This in turn is likely to lead to a higher stream of revenue in the long-run. So how can customer retention be achieved? Well, one of the main factors involved with customer retention is relationships. This is primarily focusing on developing the relationship between your clients and your brand. In order to do this, we are going to be looking at relationship marketing to ensure your clients remain loyal with your brand.
For relationship marketing to work, we need to focus on long-term results. The key is to build a meaningful relationship over a long period of time. This is often established when the customer receives extra value for engaging with your brand. For example, you could offer clients loyalty points when they make a purchase from you, this way customers start to feel an attachment with your brand. This is good for you because you are building up customer loyalty, however, we want to be able to create something bigger than this.
Thanks to social media, we now have the luxury of being able to connect with any brand we love. With this in mind, we want to be able to bring loyal customers together as part of a community surrounding the brand. This is done through social media marketing, which aims to send your brand message out to a large audience. As a result, you will increase your brand exposure which is extremely beneficial for customer retention because your social media page will hold content that adds value to your clients. Once customers know about your social media page, they will be able to access resources like competitions which are the perfect way to build relationships with your clients because it is a chance for you to give back.