Having their business growth is all business owners wish to be able to compete with their competitors, as we all probably know that it’s impossible to make the wish come true if you don’t pay much attention to your customers. Tracking retention rates are not always easy since we don’t usually have a primary formula for it. The customer retention rate can be seen as long as you are able to keep a number of loyal customers to stick around your store, sure we can’t count new customers for this case. Give your customers a reason to stick with you rather than go to a new competitor. A good customer retention rate can show how well you manage the company. Here is some advice you can take to gain your retention rates!
1. Care about your customers’ existence
Let’s talk about your existing customers, have loyal customers means that they have already used your service or bought things from you. We all know that focusing on how to attract new customers is crucial to your business, especially if you run a small business. you better put more focus on customers that already exist. When you pay much more attention to your customers, you will constantly gain their trust.
2. Be transparent
Let your customers know what your company has experienced throughout the year. The more transparent you are the more your customers build their trust in you.
3. Reward Loyalty
Reward every customer that already put their trust on you so that they know their position, they know that you are so blessed that they exist. You can treat them with special discounts or some other special promotion, a little simple thing as long as you can make them happy.
4. Quality is a priority
To keep people coming back, you should provide a good quality product. People will instantly run away if you give poor quality products on the first purchase. So that you have to be consistent in giving the best product that you possible to give.
5. It’s not only about selling, educate!
Selling products as much as you can have been the common goal every business owner has, but one thing they often forget that customers aren’t just the source of their financial matters. Treat them like friends and share pieces of knowledge you have to educate them. Why is it important? Well, you might not see it now, but it might be helpful to them and gain their respect for your company. You should keep in mind that good things will always back to you as long as you do good. Here we do right here to educate you, we provide anything you need to know more about cross-border and e-commerce. Meeting good mentors that will give you knowledge and skills by just join our membership. Let’s meet at our monthly event on 30th January 2019! Just keep checking our website and Instagram page for further information. We cannot wait to see you there!
If you have any questions about how to gain retention rates for your online store, drop us a line in the comments below.
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