The TL;DR April 7, 2020
This week we’re discussing customer retention strategies & tools and best times for posting on Instagram. Don’t worry if you missed last week’s edition. You can find it here!
6 Ways to Boost Your Customer Retention Rate
Every single customer is hard-earned. Implement one or more of the following customer retention strategies to help you receive a bigger ROI. Read more on HubSpot.
- Adjust pricing. You may be surprised by how much you can raise your prices without seeing a drop in sales, so try testing a price increase of 20%.
- Increase order value of every sale. Ensure every customer checks out with something extra in their cart by adding cross-selling and upselling strategies to your site.
- Build a loyalty program. Rewarding your most loyal customers is an easy way to build your relationships and provide regular incentives to return to your store.
- Personalize the buying journey. Encourage customers to subscribe to or sign up for an account to easily say hello and monitor their preferences.
- Offer a recurring subscription service. Consider selling add-ons such as on-retainer customer support if you don’t have the type of products that can be sold via subscription model.
- Meet your customers wherever they are. Request that visitors opt-in to your list when they come to your site or send them “we miss you” emails to get them to return.
6 Customer Retention Systems That Have Proven Success
A customer retention strategy will boost your profitability while encouraging repeat business that drives a sustainable long-term business model. Check out these tools you can use to keep your customers coming back and read more on HubSpot.
- Customer Loyalty Programs. Giving customers rewards or creating ways for them to earn value points is an easy way to keep customers from choosing a competitor during their next buying process.
- Gamification. Encourage users and customers to complete actions by making it more enjoyable and adding a sense of competition.
- Personalization. Collect data on your customers to better tailor recommendations for each individual. A simple way to do this is through email.
- CRM. It’s much easier to provide a cohesive customer experience if you keep all customer information stored in one place.
- Customer Support Systems. Provide one-on-one support or live chat software so that you can engage with customers in real-time and resolve issues efficiently.
- Customer Feedback Collection. Take advantage of the opportunity to start a conversation with your customers to prevent churn with those who’ve recently had a negative experience.
When to Post on Instagram to Maximize Engagement
The best time to post depends on your unique audience; however, here is a good starting point to help determine your brand’s best approach to Instagram posting. Find more details on Social Media Today.