Why does Best Buy, Barnes and Nobles, Staples, and Regal movie theaters offer a rewards program. Isn’t it weird that Vons requires you to register an email address to get discounts and not require you to purchase the discount card? How do the Casinos make money when they give you a card for free rooms and dinners costing over $100. Customer Retention is king. Say this to yourself every day. Make it a mantra. Wake up every morning, look in the mirror, and before you brush your teeth say a hundred times “CUSTOMER RETENTION IS KING”. After the one hundredth time, please brush your teeth as that will definitely help with customer retention.
Most businesses in the beginning focus on attracting new customers. The smart businesses start from day one with a system to keep the customers they attract. Always, Always, Always remember that it is cheaper to keep a new customer than it is to develop a new customer. An immediate response I usually hear is, “I only sell products people buy once”. This is one of the biggest fallacies in business. Think about it for a minute. If you’re a real-estate agent, are the people your selling a house to thinking this is the house their going to die in, or are most of your customers already focusing on the next house. People always want to move up or replace something lost or broken. Some couples break up and now need to sell the house you helped acquire and if you’re lucky both of them are looking for new houses. Other couples have kids that will one day want a house. In an ideal world, they purchase a house or condo and in a couple years want to upgrade. And we’re talking about one of the most expensive purchases people buy in their lives.
“How do you keep a customer?” should be on forefront of your mind everyday. What will make them purchase more product. If you’re lucky enough to provide a service, how do we keep the customers happy and not cancel their memberships. We start with identifying who our customers are. What services can we offer them now as well as what services will make them come back. Keeping customers thinking about your business is the challenge that has been issued today. Now that we have introduced the concept, let’s bypass the potatoes and move on to the meat.
What is the one thing everyone over 10 owns. Don’t say a toothbrush. If they do not have a phone, tablet, or other small device, perfect, we have something to sell them. Use this magic device in as many ways as your imagination will allow. As personal computers are on the decline and handheld devices are rising in popularity, this provides a perfect opportunity to master small device marketing before your competition can adapt.
Master yourself or pay someone to master one or all of these items:
- Social Media
- Mobile Optimized Websites
- Mobile Apps
- Phone cases
Social Networking is the new catch phrase, but if you don’t understand retention strategies, Social media is useless. Decide your approach before you even sign up for an account. Are you going to share funny videos, images of beautiful women or men, intellectually stimulating material, or advertising products? Will you use a combination of these techniques, or go after a consistent experience the customer is use to when they see a post from your account? As stated in the marketing article, what impression are you trying to achieve when someone thinks about your company? Personally, I like all approaches. Sexy people dressed appropriately representing your product or doing something funny with your product works well. Make them think about what you sell in different ways. Have a beautiful woman using an HDMI cable to pull a cat to safety from a dog wearing a tutu. The cat is making a funny face while a gorgeous man is checking the woman out. Be creative and tasteful.
Scrolling through your inbox hitting the junk flag, do you ever stop to think about why there are so many newsletters and email advertisements. I’ll give you a hint, if it didn’t work, would they waste their time? Even if you are one of the majority that purposely ignores junk mail, it is still a valuable tool. In no way am I suggesting spam mail. Send advertisements and newsletters to people that want them, while providing an easy opt out option. Do not damage your brand by sending people what they adamantly do not want! Instead take the extra time to create quality content that your retained customer wants. Interesting articles about the industry, cool deals they value, an alternative use for the product they already purchased are winners. Boring ads with products with amateur edited images, lacking headlines and missing beautiful colors puts your email on the fast track to the opt out box.
Emails are very popular, but smart businesses are starting to use sms and multi media texting more and more. Pharmacies are sending notifications that products are ready. Doctors send reminder texts that a prescription needs to be refilled, so come in for another appointment. Other companies are sending specials with a reminder they need to come to their store today, not tomorrow. Jump on the bandwagon before it passes by. Start implementing a strategy that uses texting in a way that make customers happy. Every time they pick up their phone, have them think about your company with a nice warm feeling that reminds them, it’s been too long since they visited your store or website.
Proven fact, mobile devices are taking over. How much of our favorite popular social media site income is now based on mobile viewing vs desktop/laptop based views. How much a year ago and the year before? Watch the trends. Having a mobile optimized website is not a luxury, it’s a necessity! What are you reading this article on? If you’re not on a smart phone, check it out, how does it look? If you do not have a custom app, a mobile optimized website it mandatory. If you have a mobile app, A MOBILE OPTIMIZED WEBSITE IS MANDATORY!!!!!
What does your perfectly retained customer see everyday? Their elegant, beautiful, heart warming mobile device. If their tech appendage breaks, what is the first thing they do? Cases, Stickers, anything to decorate or protect their social lifeline will be have a wonderful impact on your business. Not only will they see it everyday, but so will everyone they meet, friends they see everyday, family members they visit, people trying to build up the nerve to ask them on dates. Think of interesting ways to have your logo on their personal lifeline.
Make sure your MMOW (Mandatory Mobile Optimized Website) has been booked marked or set to the default home page. Keep your customer coming back to you everyday. If you can make them think about you everyday, selling is easy!!