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Know & understand your customers & their needs & behaviors.
Stand for something for instance quality service.
Utilize positive social proof & opportunities to communicate your product value.
Invoke inner ego.
Use enticing, pleasant & luring words that customers would love to hear.Reduce pain points & friction.
Label your customers.
provide a platfrom for equity & faireness in your operations & interactions with customers.
Ensure adaptation & flexibility for instance adjust your schedules.
Provide variety & assortments to avail customers with alternatives to choose from.
Thanx for the invitation
There are several wonderful answers herein already from great professionals, nothing to add
I agree 100%. Because losing 1 customer is equivalent to losing 100 prospective customers. Through word of mouth from every single customer that has been lost because dissatisfactory from what have mentioned below.
The best strategies are as follows;
1. Build great relationship with them.
2. Give them great quality & services that will exceed their expectations.
3. Innovations.
Thank you for inviting ........................... best service and the lowest prices with less time
Customers are the most important in any organisation. Without customers, a business cannot grow. I truly believe customers are the utmost importance and no customer is small. We treat them equal irrelevant of the outcome. The bset strategy for customer retention is that one must lways keep in touch with our customers and getting their feedback on our services we offer them.
It’s easy to sustain and grow existing customers than acquiring New customers. Agreed.
We can grow our business by Up-selling and Cross-selling to our own customers and adding/acquiring a new customer has a lot of Effort, Time and Costs associated with it. However, this doesn’t mean you just lean back and stop exploring new opportunities.New additions will offer additional Value to your business Growth. Each new customer will give you additional revenue.
Customer Retention strategies :
A. Listen to customers well. Keep your Eyes and Ears open on competitor activities/new product or service launch in the market so that you can prepare yourself well on how to deal with it and also negotiate with your management on improved/greater value proposition for your customers, if required.
B. Build Healthy Customer Relations and make them aware of how the business eco-system is creating value for each other and also improving their competitive advantage in the market.
C. Device strategy to “Win-back” lost customers, if any ,as they are easy to get back to us and they are more cost effective than winning though cold contacts.
D. Implement Customer Loyalty programs and appreciate their value/importance to your business.
E. Minimize Delays/Miss-Outs and/or shortages in delivery so that the chances of customer complaints are reduced to almost None on serviceability
F. Give Timely response to customer complaints and issue resolution
G. Get connected on Social Media with your customers and share the recent positive developments in your business and how they can benefit out of it.
H. Always make a Win-Win proposition in dealing with customers so that the relationship stands long term.
I. Last but not the least, Build a ‘customer- focused culture’ where each of your employees treat your customers with Utmost Care and Passionate about Customer Service.
thanks for inviting while i agree with brother Mohammad Negm reply
Bringing in new customers is hard, but losing them is easy (and costly). That’s why customer retention is critical.
Three words.
The difference between a business that sustainably grows long-term, and one that flames out and dies, often comes down to just three words.
Customer Lifetime Value.
Customer lifetime value (CLV) represents the total dollar amount that a customer is worth to your business, taking into account their purchases from the first day they buy from you until their very last transaction.
Customer lifetime value is a massively powerful metric, and here’s why:tiny increases in CLV can lead to huge gains in overall revenue.
Offer them the Best of everything.In particular offer them Best Service and Best value for their money and the customer is all yours. These are the best strategies for customer retention.
slightly agree because the easiest and the best way to grow your cusotomers is satisfying them with different strategies:
Excellent Customer Service.
Follow Up with our customers.
Excellent offers for our premium customers.
Sales promotion:by offering discounts in each season or round of sales.
I agree with Mr Mohammad answers, thanks for the invitation. .
