Recently, my friend was telling me about how he had placed an order online for his new iPhone with AT&T only to be disappointed when the phone arrived says Aron Govil. The shipment was not in its original packaging and when he tried to return it, the employees claimed they would do so but never did. This situation is nothing new; most people have experienced poor customer service at one time or another. Research has shown that happy customers are more loyal than unhappy ones (and recommend your business to others), which means that companies need to work towards improving their customer retention rate.
Steps to Increase Customer Retention Rate:
1) Be transparent –
Show gratitude to your customers by giving them updates on the status of their orders via email and/or social media explains Aron Govil. This not only shows appreciation towards your customers, but it also allows you to build a rapport with them as well.
2) Ask for feedback –
One of the best ways to improve customer service is to ask those who have experienced it first-hand. Put together a survey and send it out to past customers so you can hear their thoughts about specific aspects of your business. Between 80% and 96% of online shoppers say that checking a company’s ratings and reviews is one of their top three criteria for buying from that store, according to Big commerce’s “State of Online Shopping” report – making unsolicited positive feedback crucial to attracting new business.
3) Listen more than you talk –
Customers shouldn’t have to repeat themselves when asking for assistance. Whenever possible, avoid any troublesome miscommunications by staying prepared with all the information you need ahead of time. Also, if a customer’s satisfaction is your top priority, then understanding and acting on their feedback should be as well.
4) Aron Govil: Seek out opportunities to WOW –
There are unlimited ways customers can be impressed: sending free upgrades or extra products that weren’t originally included in an order; offering exclusive deals and promotions; creating personalized experiences using data gathered from previous interactions — just to name a few! By participating in these activities, you not only set yourself apart from other businesses but also give customers bragging rights to their friends and family members as well.
5) Reward your best customers –
As you grow, your customer base will expand. A great way to show appreciation for existing customers is by rewarding them with loyalty discounts or exclusive deals that are only available through email.
6) Be flexible –
A business can’t always plan on the availability of its resources nor can it guarantee ideal conditions at all times. To help mitigate any problems associated with this, set up a system that allows employees to determine if they have what they need in order to get the job done well. Also, put processes in place that not only maximize productivity but also ensure quality is never compromising when making these decisions.
7) Go above and beyond –
According to recent data from American Express, 61% of U.S consumers the most important thing an employee could do for them was “going the extra mile.” Even if it’s something as simple as offering a coupon or throwing in a free gift, these small but meaningful gestures are sure to make customers feel appreciated.
Here are Some FAQs recently asked by our customer regarding How to Improve Your Business’ Customer Retention Rate.
Q1. What are the top three criteria for online shoppers when deciding to buy from a store?
A1. According to Big commerce’s “State of Online Shopping” report, checking a company’s ratings and reviews is one of their top three criteria for buying from that store. Between 80% and 96% of online shoppers belive. That checking a company’s ratings and reviews is one of their top three criteria for buying from that store. Other factors include free shipping, quick delivery times. And a website with high-quality images of products was also among those most likely to influence purchasing decisions.
Understanding the specific needs your customers have is crucial for creating a reliable customer service plan. That will help them feel more satisfied with their experience as well as boost your sales.
Q2. How can I improve my business’ customer retention rate?
A2. There are tons of different ways to do this, but here are some of the top ones: 1) Listen more than you talk – Customers shouldn’t have to repeat themselves. When asking for assistance and it’s best if they don’t have to go through any unnecessary hassles. Stay prepared with all the information you need ahead of time. Make sure employees understand how important it is to respect everyone who comes in contact with your business. 2) Ask for feedback – One of the best ways to improve customer retention. Is by making sure customers have a voice and are being heard. If a customer’s satisfaction is your top priority, then understanding and acting on their feedback should be as well. 3) Make it easy for customers to keep in touch- Having an easily accessible contact list allows you to quickly reach out to consumers whenever the need arises.
Aron Govil explains customer satisfaction is not only essential for maintaining your business growth but also for improving overall morale. By following the steps outlined above, you’ll be well on your way to increasing customer retention rates. Even earning new clientele in no time!