Faith Christopher

Office Coordinator

April 073 min read

Alt

The TL;DR April 7, 2020

This week we’re discussing customer retention strategies & tools and best times for posting on Instagram. Don’t worry if you missed last week’s edition. You can find it here!

6 Ways to Boost Your Customer Retention Rate

Every single customer is hard-earned. Implement one or more of the following customer retention strategies to help you receive a bigger ROI. Read more on HubSpot.

The TL;DR

  1. Adjust pricing. You may be surprised by how much you can raise your prices without seeing a drop in sales, so try testing a price increase of 20%.
  2. Increase order value of every sale. Ensure every customer checks out with something extra in their cart by adding cross-selling and upselling strategies to your site.
  3. Build a loyalty program. Rewarding your most loyal customers is an easy way to build your relationships and provide regular incentives to return to your store.
  4. Personalize the buying journey. Encourage customers to subscribe to or sign up for an account to easily say hello and monitor their preferences.
  5. Offer a recurring subscription service. Consider selling add-ons such as on-retainer customer support if you don’t have the type of products that can be sold via subscription model.
  6. Meet your customers wherever they are. Request that visitors opt-in to your list when they come to your site or send them “we miss you” emails to get them to return.

6 Customer Retention Systems That Have Proven Success

A customer retention strategy will boost your profitability while encouraging repeat business that drives a sustainable long-term business model. Check out these tools you can use to keep your customers coming back and read more on HubSpot.

The TL;DR

  1. Customer Loyalty Programs. Giving customers rewards or creating ways for them to earn value points is an easy way to keep customers from choosing a competitor during their next buying process.
  2. Gamification. Encourage users and customers to complete actions by making it more enjoyable and adding a sense of competition.
  3. Personalization. Collect data on your customers to better tailor recommendations for each individual. A simple way to do this is through email.
  4. CRM. It’s much easier to provide a cohesive customer experience if you keep all customer information stored in one place.
  5. Customer Support Systems. Provide one-on-one support or live chat software so that you can engage with customers in real-time and resolve issues efficiently.
  6. Customer Feedback Collection. Take advantage of the opportunity to start a conversation with your customers to prevent churn with those who’ve recently had a negative experience.

When to Post on Instagram to Maximize Engagement

The best time to post depends on your unique audience; however, here is a good starting point to help determine your brand’s best approach to Instagram posting. Find more details on Social Media Today.

Infographic detailing the best times to post on Instagram.

Customer Strategy Retention Rate Tools Instagram