"Loyal customers creates a revenue stream which lead to 80% of your future profits"
Here is how customer retention can help your brand! Loyal customers are 5x more likely to repurchase your products or services in the future. On average, loyal consumers delivers 23% more revenue and profitability over the average customer.
Best source of new customers!
Happy customers refers more happy customers! The most influencing marketing is Word-of-Mouth. People are still mostly influenced by the referrals from their friends and family. You are more likely to check out a restaurant your friend recommended than seeing a commercial online. This gives the advantage of trust and convenience for potential future consumers.
This is why most companies are now geared to giving back to their loyal customers. By creating the system of rewarding customers for giving positive referrals you are ensuring the future sales opportunities.
Provide valuable Feedback
Statistically loyal customers are more willing to share their opinion about your products or services. This provides great insight on your current Know Your Customer (KYC). The more you know about your consumer's point of view, the more you can increase engagement and satisfaction ratings. Reactivation Group Ltd. understand the value of KYC and offers valuable feedback tailor made to your brand. Not only will you be reactivating your customers but retaining valuable insight! Reactivation Group has an astounding 96% satisfaction rating in Customer Support services.
How to Retain Your Customers
It is proven that customers appreciate valuable customer service. A human conversation is more engaging that automated responses. Statistics says that people rather speak with a person when resolving any issues. Your customer service department inevitably is the face of your company. This is why it is crucial to take the time to build your customer support geared to customer satisfaction. Some ways to make your consumers feel valuable are Unique Retention Proposition:
Advanced Customer Relationship Management (CRM) systems
"Loyal Consumers are 6 X more likely to try new product or service from your brand"
As you can see there are more opportunities in an existing customer than you might think!
Don't let your potential stay dormant.
by Eva Zlochova