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You can have the coolest store in the world, with the best products, top of the line customer service, and the best looking guys and gals working behind the counter, but none of that matters without your customers. Sure, fancy signs and pretty faces may get people to poke their heads in and look around, but it’s certainly not an ideal recipe for customer retention. So what is then? Unfortunately, there’s no magic wand to wave or secret potion to drink. However, there are some tips for improving customer retention at your business:
1. Knowledge is Power
Ok ok, I know, the “knowledge is power” line is a bit obvious, but it’s true! Everyone knows this, but what people don’t focus on is the type of knowledge that’s powerful. While knowing every amphibious species may be powerful in certain situations, it’s fair to say that this type of knowledge won’t help you run your business. You get the point. So what kind of knowledge will help you as a business owner? If you guessed customer history and email addresses, then you guessed correctly. One of the keys to customer retention is being able to personalize the experience for each customer to show them that you care. By keeping tabs on your customer’s previous purchases and email addresses, you can keep in contact with them even when they’re not in the store. By doing this, you’re not only able to let them know about new products they may like based on their previous purchases, but you can also keep them informed about upcoming deals and discounts as well.
2. Customer Loyalty is a Two-Way Street
You can’t expect customers to keep coming back just because you throw some $5’s off coupons at them. You need to give them discounts and deals for things that they care about. There are two really good ways to do this. The first way is to send your customers discounts and deals based on what they have previously purchased. The other way is in the way you word the deal. Using buzzwords like “VIP Deal” or “10% off today only!” are great ways to incentivize your customers and continually drive traffic.
3. Create a Community
Everyone wants to be a part of something. A great way of getting customers to come back is to make them feel like they have a stake in your business or have had a role in your store’s success. Doing this is as simple as asking them what they want. By having customers fill out a survey and reporting the results back to them, it makes them a part of your store, a part of your community. While it’s also important to make sure that you’re not bombarding them with surveys every time they come into your store, a survey every now and then about important issues regarding your business can go a long way with consumers.
4. Referral Programs
A referral program is one of the best word-of-mouth incentives a business can offer. It’s a great way to get people talking about your business. Studies have shown that by offering as little as 10% off of a purchase, customers will refer friends and family to your store. This will bring in new customers and bring back old ones.
How do you keep ’em coming back? Let us know in the comments!
It’s not just The People of Walmart that keep retail an entertaining industry, although the site does provide a steady stream of “Are you kidding me?!” moments. But in the realm of current events over the past couple of weeks are some stories that find their basis in online retail related contexts. We can’t make up stories like these.
Want to give your restaurant employees a raise without it coming out of your pocket? Make it easier for them to get higher tips. We’re not suggesting more hours of training (although that probably wouldn’t hurt). We’re not talking about table dancing or karaoke either. What we’re suggesting is something as easy as using the right point of sale system.
