{"id":5017,"date":"2020-05-21T11:38:57","date_gmt":"2020-05-21T11:38:57","guid":{"rendered":"https:\/\/blog.verbat.com\/?p=2384"},"modified":"2024-05-27T07:56:25","modified_gmt":"2024-05-27T07:56:25","slug":"retention-marketing","status":"publish","type":"post","link":"https:\/\/www.verbat.com\/blog\/retention-marketing\/","title":{"rendered":"Retention Marketing: More Relevant Now Than Ever"},"content":{"rendered":"\n<p class=\"wp-block-paragraph\">It is common business knowledge that\nacquiring a new customer is five times more expensive than retaining an\nexisting customer. With the coronavirus pandemic and the subsequent economic\nlockdown, customers are tightening their purses and deliberating and debating\nhow and where they should spend their money. This would make it nearly\nimpossible for businesses to recruit first-time buyers and hence should give\neven more serious attention to customer retention to keep the money\nflowing.&nbsp;<\/p>\n\n\n\n<!--more-->\n\n\n\n<p class=\"wp-block-paragraph\">There are many retention strategies to\nretain loyal customers, especially during an economic slowdown. Here are a few\nstrategies suggested by experts and effectively implemented by several\nbusinesses.<\/p>\n\n\n\n<h4 class=\"wp-block-heading\"><strong>Tip # 1: Offer Great\nService and Great Customer Experience<\/strong><\/h4>\n\n\n\n<p class=\"wp-block-paragraph\">One of the best ways to retain loyal\ncustomers is to invest in their experience. Analyze the customer experience\nwith your company and identify the attributes that you could improve upon. You\ncan personally engage with the past and existing customers to see how you could\nseamlessly integrate your products and improve customer satisfaction. If you\nare regularly following up on them and staying in front of them by offering\nexcellent customer experience, you increase the chances of them returning to\nyou again and again.<\/p>\n\n\n\n<h4 class=\"wp-block-heading\"><strong>Tip # 2: Keep Them in\nYour Loop<\/strong><\/h4>\n\n\n\n<p class=\"wp-block-paragraph\">People are more most likely to shop from\nbrands that they trust and feel intimately involved with. So, use this\nopportunity wisely to connect with your customers. Promote the underlying\n\u2018cause\u2019 of your business, your commitment to your employees and customers. It\nis also critical to communicate your worth to them. Provide them valuable\nresources and insights that can help them during these challenging times\nassuring them you are there to help them. You may offer webinars, podcasts, and\nonline tutorials. You can even host online events or live video streams to\nconnect virtually.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><strong><a href=\"https:\/\/www.verbat.com\/services\/integrated-digital-marketing-solutions\">Social media<\/a><\/strong> is another avenue that can be used to engage with your customers. Create engaging social media posts and respond to customers directly by answering comments and other social media requests.<\/p>\n\n\n\n<h4 class=\"wp-block-heading\"><strong>Tip # 3: Keep It Personal<\/strong><\/h4>\n\n\n\n<p class=\"wp-block-paragraph\">Rather than sending a generic email to all your customers send a compassionate personalized note. This would make the customers feel connected to your brand. This may be through handwritten notes, customized emails, and check-in phone calls. There are also several customer relationship management (CRM) tools, and <a href=\"https:\/\/www.verbat.com\/software-development\">software<\/a> can help you maintain these relationships with ease.\u00a0<\/p>\n\n\n\n<h4 class=\"wp-block-heading\"><strong>Tip # 3: Redesign Your\nProducts and Service as Needed&nbsp;<\/strong><\/h4>\n\n\n\n<p class=\"wp-block-paragraph\">Changing times requires changed strategies\ntoo. It is essential to assess how your business can project itself to meet a\ngreater concern. For example, the auto giants Ford, General Motors, and Tesla\nhas started production of ventilators to meet the surging demand in the US.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Likewise, instead of trying to push a\nproduct that is currently irrelevant to the customer, find new ways to\ndifferently meet the current and immediate concerns. This may mean offering\nyour product or service digitally. With technology on our aid, it is possible\nfor businesses to virtually connect with the customers and continue to support\nthem remotely.&nbsp;<\/p>\n\n\n\n<h4 class=\"wp-block-heading\"><strong>Conclusion<\/strong> <\/h4>\n\n\n\n<p class=\"wp-block-paragraph\">For any business to be crisis-proof and sustainable for the long term, it is important to keep your customers\u2019 needs on top priority. Tailor your product and <strong><a href=\"https:\/\/www.verbat.com\/software-development\">marketing strategy<\/a><\/strong> to reflect the changing demand. Providing value will always give you a better chance of retaining customers and to maintain a long-term relationship.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><a href=\"https:\/\/www.verbat.com\/\">it companies in dubai\u00a0<\/a>|<a href=\"https:\/\/www.verbat.com\/search-engine-optimization\/search-engine-optimization-dubai\">\u00a0Search Engine Optimization UAE<\/a>\u00a0|\u00a0<a href=\"https:\/\/www.verbat.com\/technologies\/mobile-app-development\">mobile app development companies uae\u00a0<\/a>|\u00a0<a href=\"https:\/\/www.verbat.com\/web-hosting\">Web Hosting UAE<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>It is common business knowledge that acquiring a new customer is five times more expensive than retaining an existing customer. With the coronavirus pandemic and the subsequent economic lockdown, customers are tightening their purses and deliberating and debating how and where they should spend their money. This would make it nearly impossible for businesses to [&hellip;]<\/p>\n","protected":false},"author":12,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-5017","post","type-post","status-publish","format-standard","hentry","category-others"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v22.8 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Retention Marketing: More Relevant Now Than Ever - Verbat<\/title>\n<meta name=\"description\" content=\"Retention marketing is crucial in today&#039;s competitive landscape. 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