Why is retention a key factor in your business?
The act of making your customers “come back again and again” is called retention. It is one key factor that makes the business grow is having customers that use the product or brand over and over again. Just as important as having new customers, you use tactics to keep them engaged.
As new know retentions begin after the purchase, marketers need to find a way on how to serve the customers better to keep them on the loop.
This is one way you can be creative with your email marketing ideas in finding the sweet spot of your valued customers.
Since you know the customers’ buyers journey, you can use this to your advantage to create your customer lifecycle. This will be a way of maximizing the value of your customers who will come back again and again.
Here’s a statistic from research showing how vital retention is to your business.
” When it comes to revenue, customer retention is vital to the consistent growth and financial planning of your business. After all, the more committed customers you have, the easier it is to make budgetary decisions.
According to research done by Invesp, 44% of companies admit they focus more on acquisition than retention, and only 18% claim to focus more on retention. When it comes to customer retention, the most effective digital marketing tactic is email marketing.
Statista provided stats showing that in 2017, global email users amounted to 3.7 billion and this number is predicted to grow to 4.3 billion users by 2022. This powerful marketing tool is here to stay and is the cornerstone of any successful retention marketing strategy. “
Retention tactic that you can use in your email marketing
1 Reduce open low open rate —> Segment
Keeping your customers at bay means sending them the right message that they want to hear from you. Segmentation is the key to reduce the low open rates because you have known their previous engagement with your brand.
Customer retention is not a one-time thing that when you send them an email they will be engaged right away. You need to engage them over time, pique their curiosity, surprise them and its time they wink become a brand loyalist.
2 Use a little nudge —> Send a friendly reminder
A friendly reminder is a soft pat in the shoulders to let your customers know that you are here for them especially if your products are subscription based.
You can remind them when their account is about to expire and let them know if they want to continue using the service. Your email automation cycle will come in handy at this point.
3 Incentivize your customers —> Boost customer loyalty
You can give something special to your loyal customers on special occasions such as Birthday or holiday. It is not just limited to occasions like this but anything that makes them feel valued and special. You can Automate this kind of email like Birthdays, Christmas, Valentine’s day to name a few.
4 Reviews help to build rapport —> Retains customers
Testimonial and reviews are powerful factors that can persuade your customers to your business to stick by hearing other people raving about your service and how it worked for them.
5 Make a personal email —> Send an email from your company
You can make a strategy to have a personal email coming from your sales or support team and reach out to your customers with a personal signature from your team. This is more on to one and gives high value to feeling. A simple quick chat or hello to see how are they doing.
Connect with your customer’s feelings……
Having retentions emails are not for the sales pitch but making your customers feel good and appreciated.
Mush as it may seem but it’s the truth…
Well does not work for everyone though, you gotta make sure that you test different emails to see which one works for your customers.
It takes hard work to come up with the right email and it will definitely pay off when you retain your customers to stay with your company.
This kind of email has a long-lasting effect if you plant the seed right with the help of your brilliant email marketing strategy.