As there is no big thrill than converting a customer, similarly, there cannot be a bigger failure than losing out on your existing one. While a major part of your marketing strategies is focused on developing fresh sources, not much is done to retain the existing segment.
Delighting your existing clients is not only cost effective but with the right treatment, you also stand a chance to win their loyalty for life. They can be your perfect brand ambassadors, do free publicity and even refer few people to you in return- All this and more at no extra cost. Moreover, if we go by recent statistics, retaining an old client is seven times less expensive than developing a new one.
Here are the top 4 customer reactivation strategies that you can employ to win over your existing client base.
1. Encourage interaction:
You may start by holding contests and promotions that encourage customer engagement and participation. Keep them informed about your new launches, discount codes or any other information that could be interesting and relevant to them.In case you haven’t heard from your clients in a long time, do not be hesitant in reaching out to them.
All these practices might not bring you the immediate results, however, be persistent and your efforts will surely pay off well in the end.
2. Make diligent use of social media:
Social media is the best platform to engage and build trust amongst your client base. Closely monitor their queries, responses, feedbacks as well as their interests and motivations. Use the opportunity to acknowledge and reward your most loyal customers.
Many people turn towards the social media pages of the companies to register complaints, share feedback or seek help regarding their queries. Raise your game by providing excellent customer service thus winning their trust in return.
3. Own the responsibility:
Mistakes are part and parcel of the business. Set a precedent by taking full responsibility for your actions and apologize. Honesty is always appreciated and when a brand accepts its mistake, it shows the genuine willingness on their part to take the preventive measures- A trait which is always admired by a customer.
4. Respond in time:
In case ofescalations and queries, do not keep your customers waiting for too long. 24 hours timeline is a well-acceptedacross varied segments, anything beyond this is certainly not a mark of professionalism.
Make diligent use of these customer reactivation strategies and see your retention graph touch the all-time high.
