Tuesday, 19 March 2019 12:27

Customer Retention Strategies - 5 Tips To Increase Lifetime Value

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Today we’re going to talk about 5 tips to increase repeat customers and lifetime value. Coming up next!

Tip #1 - Offer Great Service and Great Customer Experience:
Customers come to you and they already expect that you’re going to provide to them exactly what they were looking for. They already expecting that you'll provide a service, a product, and they expect to have a reasonable relationship with you during that time.

Provide great customer experience and great service by going above and beyond what your competitors are doing or what they would even would expect you to do.
Blow them away with your follow up. Contact them all the time! Let them know how their project is going, let them know where their product is
If you’re staying on top of it and staying in front of them by offering a great customer experience you increase the likelihood of people working with you again and wanting to return to either get your service or get your product another time.

Tip #2 - Stay On Their Radar:
97% of people that go to your website or interact with your brand for the first time don’t convert. It doesn’t mean they aren’t a good customer or they they’re not a good fit for your business. It just means they're in a different spot in the sale funnel.

Maybe they’re just researching. They’re comparing, price shopping. It doesn’t mean they’re a bad customer for you. If you follow up with them and stay on their radar using retargeting ads or any of the other myriad of marketing opportunities out there you’re able to keep that top of mind awareness and you’re able to follow the Marketing Law of 7. Which means that a consumer needs to see or interact with your brand at least 7 times before they make a decision as to whether or not they’re going to work with you in the future.

Tip #3 - Automate Your Processes:
Use a CRM. and use email automation. The last thing you want to do is spend all this time money and energy in driving people to your website, getting them to fill out a lead form or maybe they made a purchase, and then they completely fall off your radar and you never talk to them again!
All you need to do is set up some automated process with email automation and with CRM lists and you can develop a funnel to continue nurturing these customers so they come back to you when it's time for their next service or product.
There are a lot of tools out there that are available but we recommend the Marketing 360 CRM. It’s free, it’s free for life, and you can sign up today.

https://www.marketing360.com/small-bu...

Tip #4 - Ask For Referrals:
If you aren’t asking for referrals you’re relying on luck. You need to give your customers and opportunity to brag about you. They’ve already paid you they’ve already taken that risk, now you’be developed a trust relationship with them so give them an opportunity and an incentive to brag about their decision to their friends and their family.
It’s a great way to generate new leads. It’s a great way to get your brand name out there at minimal cost to you. And you’re also able to stay in touch with the customer you’ve already worked with and all of their friends and family so you can utilize them as another opportunity to drive more business and return business back to your company.

Tip #5 is to thank them and follow up
You need to say thank you! Say please, say thank you, appreciate the fact that they’re spending their hard earned money with you and recognize that.

This is also a fantastic time to ask them to leave you a review! Reviews are incredibly powerful. It’s an opportunity for you to develop and maintain your own online reputation.

So if you provide great customer service and you follow these tips, thank the customer after the service or the product has been delivered - ask them for a review. It’s a great way to grow your business and keep people coming back to you.

Finally, remember it costs 5 times more to generate a new customer than it does to keep an existing customer. If you follow these tips and provide great service and great products to your customers they’ll keep working with you! They’ll come back, they’ll become a lifetime customer and they’ll refer their friends and family resulting in a net growth for you, your business, and your community.

Thanks again, and happy marketing!

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Global Presence Enterprises, LLC. is a marketing, design, and consulting company. We help organizations grow! The views expressed by contributing authors on our blog do not always represent the philosophy, methods, and values of Global Presence. They are published for educational, discussion and inspirational purposes.

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