How to improve customer retention?
Starting a business online? here is what you need to know according to Payfort,20% of your customers will make up 80% of your revenues and that's why customer retention is where you should be focusing.
Payfort lists 5 strategies to apply to keep you customers:
1- Personalized content: more and more people expect a personalized experience nowadays and from your side this requires having the right data about your market.
2- Solid CRM: The customer relationship management can increase retention by as high as 27%, so this is an area where you should invest.
3- Using Chatbots: 24/7 service can be a hassle and a cost, while at the same time you need to make your customer feel like your priority, in this case chatbots do the job perfectly.
4- Onsite Gamification: adding a sense of progress and competition by using labels, badges or leaderboards can keep customers more engaged as they complete their purchases or follow actions on your site.
5- Email Marketing: email continues to be one of the most effective ways to bring customers back to your website, just make sure your email list is well segmented to be as personalized as possible and to achieve the desirable results.