How Technologies Can Work for Customer Retention

For any business to thrive and have success, many measures must be taken – and an important one is known as customer retention. Yes, it is vital for a business to have clear values and goals, good marketing strategy, and pursue new clients every day.

However, having existing clients interested is also essential for a business to keep up with their ROI.

According to the consultant giant Bain & Company, retaining customers increases a business’ marketing more than seeking for new clients does. To be more exact: when a company invests only 5% in retaining customers, profits see a 95% boost.

This shows how capital growth is strongly tied with customer retention. KPMG has stated such fact in a study report you can read here.

Customer retention has close ties with technology, and that is where Developers can come in and can make their contribution – with intelligent engine and software for loyalty management, the return of investment improves in the long run, and businesses can then easily be up-to-date with customers demands and changing needs.

How can businesses retain customers?

First things first – a business must pay attention to its customers. Companies have to find out what their clients are looking for or what they are shopping and buying.

Image from: The CX Leader Blog

And, since so many things are digital and automated nowadays, businesses have to adapt to trends. They can:

  1. Optimize their website with relevant content, in mobile format
  2. Send messages and emails with exclusive deals
  3. Link their social media profiles with one another
  4. Provide mobile-friendly payment methods
  5. Develop loyalty programs
  6. Build live customer support platforms with online communication tools

Customers want and need services that are fast and practical. When their queries are not responded, or when their needs are not met, they are more likely to abandon a service. Therefore, developing online support for customers retains them – and even increases site visits.

Besides customer support, there are also Loyalty Programs.

Loyalty Programs are solely for those loyal customers – they can enjoy discounts, deals or rewards.

What can a business create with Loyalty Programs

The important aspect of a Loyalty Program is to build relationships with clients – they are not only rewarded with brand programs or product deals and discounts, but also offers based on their own interests.

Loyalty Programs have come to evolve along with e-commerce. When these two are put together, membership loyalty can come in the form of good and exclusive deals for existing customers – after all, 94% of customers look for a good deal online and 93% repeat purchases when they are offered such deals, while 48% avoid brands that do not provide said deals.

The use of in-app messages

Another method to retain customers and keep them entertained is by using in-app messages – notifications sent while clients are browsing.

Some examples of in-app messages are:

  • Chats: this is where the customer support example we have mentioned falls into. Chats might be partially or fully automated, and are there for customers who need help.
  • Surveys: while customers are using the app, surveys can be sent to them to collect feedback about their experience using the website, or about any products they have purchased.
  • Product tours: in a desktop, customers can be taken into a tour of the product they want to purchase. This way, they can see technical details on the product and how to best make use of it.
  • Customized messages: sending direct messages based on who visitors are and what they are looking for is also a great way of getting one step closer to retaining them. With personalized offers, results can be reached faster.

Image from: Search Engine Journal

It is important for businesses to engage customers at the right time and place. When making use of such retaining methods and tools, it becomes easier, quicker and more effective to offer customer support and showcase them special deals, offers or product updates.

When Developers provide businesses an interface with customer support technology, deals and an overall design that is easy to navigate – then more confidence is generated among users and brands.

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