Bonuses, Surprises and Contests: Top Tips on Customer Retention for Retailers

While attracting customers is the first step for retailers, it is customer retention that plays a pivotal role in securing financial viability and business growth. For most businesses, it is the fewer yet fiercely loyal customers that will represent the majority of sales. And sometimes, in order to keep clients coming back, you have to think a bit outside the box.

Social media engagement: the key to a successful marketing strategy

Customer retention is especially important for retailers trying to bounce back after a challenging time where they saw a decrease in sales. Making sure that loyal clients remain engaged with your brand is crucial in order to keep your business afloat, as they will stick with your brand against competitors – and this will gradually provide room for generating more revenue. One strategy to enhance customer engagement is to take to social media and deliver fun and exciting ways for them to interact with your brand. By posting regular updates on platforms like Facebook and Instagram, your company can make sure that they can reach their target audience through various channels.

Source: Pexels

One important step to remember is to diversify your approach across platforms – no one wants to be bombarded with the same message over and over. Furthermore, adapt to the profile of the platform in question: be more informal on Facebook, a tad artistic and vague on Instagram, succinct and to the point on Twitter. This will inevitably lead to hitting gold on the one platform across many which the customer will feel more comfortable to use in order to respond, whether it is by retweeting an update or liking a live stream on Facebook. Offering weekly or monthly contests on social media is a great way to streamline customer retention and make sure that clients will keep coming back for more.

A little bit extra can go a long way

Appreciation is a driving force behind customer retention, so show your clients how much their loyalty means to you. A surprise is always welcome and makes customer feel special – and it doesn’t have to cost much. A small handwritten note on their birthday could go a long way, while it is always nice to receive an unexpected extra gift or a discount here and there to commemorate their renewal of their annual subscription or their tenth online delivery in six months.

Source: Pexels

Offering bonuses is another great tip for making customers feel special, and one that is widely used across a range of industries. Cinemas regularly offer a bonus discount for viewers on their least busy days, some of the best forex bonuses are reserved for VIP and loyal customers instead of newcomers, while many online retailers will throw in delivery fees as a bonus for returning customers who have reached a purchase threshold. Regardless of your approach, ensure that clients understand the purpose of the bonus and associate it with their loyalty to your brand.

The overall purpose of a successful client retention strategy is to build a trust relationship with your loyal customer base. It ia also aimed at making them feel like a part of something bigger when they engage with your brand – so go for that little bit of extra!