5 Innovative Customer Retention Strategies You Can Take to the Bank

innovative customer retention strategies crm consumer loyalty

If you're like any other business, you spend a ton of time and resources in order to attract new customers. In fact, businesses spend up to 24 percent of their budget on marketing. It makes sense, then, that you'd want to keep those customers coming back to your business again and again.

But how do you keep customers coming back when there's so much competition in the marketplace? Read on to learn about some great customer retention strategies that'll make your customers super brand loyal!


1. Send Out Special Offers

Lots of businesses offer discount-based incentives for new customers. This is a great way to bring in new customers, but it does little to help you keep customers once the discount is gone. You can stop customers from looking elsewhere for discounts by offering continued discounts for existing customers.

Customer success solution agencies can help you target and send out emails to specific groups of customers in order to keep them coming back to you. Think email offers that promise a discount with a certain amount spent or even a discount for referrals!


2. Offer a Subscription Service

What better way to keep your customers coming back to your business than to set them up with a subscription service. Think of something like the Amazon Subscribe and Save program — you'll offer a small discount in the beginning if they set up a long term subscription. You'll save money on email blasts and your customers won't even have to think about re-ordering!


3. Create a VIP Program

VIP programs are a great way to show your customers that you recognize the money they're spending with your company. These programs offer special discounts for people who have spent a specific amount of money with your company. For example, if a customer spends $1,000 in a calendar year, then they get a 10% discount when they order and free shipping.

This gives customers a great reason to come back again because they know they'll save when they buy with you.


4. Inspire Your Customers

Customers today love companies that are socially responsible. Think of programs like TOMS shoes' buy a pair, give a pair program. If your customers know that you have a socially responsible mission statement, or if you have an active donation program, then customers are more likely to stick with you. 


5. Bump Up Your Customer Service

Sometimes the best thing you can do to improve customer retention is to have truly spectacular customer service. Fast food giant, Chick-fil-a, is famous for its incredible customer service. Nordstrom is well known for its lenient return policy.

Keep your customer service super friendly and always make your customers feel like they are valued. 


Ready to Kick Off Your Customer Retention Strategies?

Utilizing good customer retention strategies will have you transform a one-time shopper to a brand loyalist. The key is to make them feel valued and offer them incentives to keep coming back. With a little work, these strategies will have your sales kicking into high gear!

Interested in more articles that'll help you boost your small business? You're in the right place! Check out the rest of our blog for some incredible business advice to improve customer success!

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