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Businesses spend a lot of time and money acquiring each customer. While acquisition is undoubtedly important, it costs up to seven times more to gain a new customer than to keep a current one! To retain customers in today’s hyper-competitive, digitally-focused business environment that moves at speed, you’ll need preparation and effort – plus a few tricks and tools up your sleeve. And if you need any further convincing “Just a 5% increase in customer retention can boost profits by as much as 125%!” If you’re looking to better retain your customers (and this should always be a goal) — begin with these five powerful concepts, listed hereafter. Understanding and applying them will mean greater returns and equally lower costs for your company, no matter your industry.

  • RC

    Ravi Chahar

    about 2 years ago #

    Hey Erik,

    I really liked the concept of gamification. It's like exciting your customers to make them do what you want. I used to play the games but not now.
    Maybe I should start again.
    Rewarding your customers make them stick to your product or the company for a longer period.

    Thanks for sharing with us.
    ~Ravi

    • SH

      Sam Hurley

      about 2 years ago #

      Ahaha! xD Me too, Ravi! I've been considering games to 'switch off' at times ... It's just finding the time in the first place! LOL!

      Rewarding customers in this way keeps them coming back for more ... Without a doubt! Not only that: It incentivizes them to share with their friends and everyone via Social Media ... Which is an awesome result in itself.

      Thanks again!
      Sam :-)

    • EE

      Erik Emanuelli

      about 2 years ago #

      Same here, Ravi.
      Who would not like a super-reactive community, where users answer right away to each stimulus?
      EmpireAvenue.com is a great example of principles of gamification applied with the right strategy, for example.
      If I can add to the list shared by Sam another tool I would suggest is PunchTab.

      • SH

        Sam Hurley

        about 2 years ago #

        Once more: Thanks for your further wisdom + insights, Erik!!

        I'm checking out both examples right now...

  • LS

    Lisa Sicard

    about 2 years ago #

    Sam - I love this piece as I'm in sales daily (past 25+ yrs!) and it's so much easier to sell to current customers vs. attaining new ones. (Though I love cold callling). I think providing extra for people really helps to retain them and I love your idea about personalization with gamification. So many people now switch brands and there is no loyalty like years ago.
    I think gamificaiton would work wonders with the younger set for sure! I haven't heard of any of these tools so I will have to check them out.
    I recently joined a subscription plan to Chewy for my dog because it saved me money and time on getting his food and treats :) So those do work well!
    Thanks for sharing all these tips Sam!

    • EE

      Erik Emanuelli

      about 2 years ago #

      Wow, Lisa, do you really love cold calling?
      I use to hate them when I worked as sales representative (maybe, your kind voice and attitude can melt the ice easily).
      Thanks for mentioning Chewy. I saw there are products for cats too, but living outside the U.S., I don't think it's worth the subscription for me.

      • SH

        Sam Hurley

        about 2 years ago #

        I wasn't sure if Lisa was being sarcastic! Haha! :-D

        Waiting in suspense...

    • SH

      Sam Hurley

      about 2 years ago #

      Thanks for your valued feedback, Lisa! :-D

      Great to hear you agree with these concepts, especially as you're working on the front line in sales! You KNOW this stuff works and makes much more sense than disregarding those who have ALREADY reached into their wallets!

      I have so many future plans for personalization + gamification...

      So happy to hear these tools are all new to you! YAY!

      I'm sure they will keep you very busy for many months to come! #Enjoy!

      Thanks so much my friend,
      Sam :)))

  • SA

    Swadhin Agrawal

    about 2 years ago #

    Hi Erik,
    Great share!
    I am obsessed with conversion optimization and customer retention and this article by @sam was a treat for me. Yes, These new techniques he mentioned including giving the customers an option to choose the elite openings or booking offer is a good way to get them paying into what you like.

    Customer retention is always more difficult that customer acquisition but still these techniques can bring it to a great ease.

    -Swadhin

    • EE

      Erik Emanuelli

      about 2 years ago #

      Thanks for the positive feedback, Swadhin!
      Do you have any particular conversion optimization techniques that work for you to share with us?

    • SH

      Sam Hurley

      about 2 years ago #

      And THAT is an ideal strategy to be obsessed with, Swadhin! :-D

      Make customers feel special, wanted, appreciated ... And everything else comes naturally. The fancy stuff like gamification and technical subscription / loyalty plans only enhance this experience!

      Lovely to hear this was a treat for you! :-D

      Thanks man!
      Sam

  • JM

    James McAllister

    about 2 years ago #

    #4 and the excellent service mentioned in #5 together are perhaps the biggest reason we outsell our competitors, even at a higher price, and even when our products are right next to cheaper alternatives. It just goes to show how important it is to give trust and value first and that people are willing to pay more if they feel secure in their buying decision.

    One of our big goals is we want to show up every time somebody searches for something related to our market, whether it be a product, an article, a video, etc. Not only do we want to show up, but we want to be the most valuable resource for that. Although we're not even close to being there, we are growing massively each month and it's already paying dividends.

    • EE

      Erik Emanuelli

      about 2 years ago #

      Bring value first! Loved it, James.
      It's the same for blogs. Provide content with added value for your users, and they will reward you by becoming loyal readers.

    • SH

      Sam Hurley

      about 2 years ago #

      Amazing, James! =)

      Value means much more than price ... People often get the two mixed up!

      Sounds like your hitting your market with exactly the best offering at the right price while providing tonnes of value. #Winning

      Treat them extremely well (in a way that is unrivaled) and customers will always be willing to pay more for this privilege in the long run.

  • RC

    Reginald Chan

    about 2 years ago #

    Very good article and thanks for sharing. Can't help but to "WOW" with the 15 crazy tools!

    You just made my week even busier! Haha

  • JH

    Joy Healey

    about 2 years ago #

    Great post from Sam, I found myself nodding over and over again from my own experience.

    As a supplier, my longest-standing customer is of over 30 years, I can certainly confirm they've provided 80%+ of my turnover. To achieve this we have adopted the following model : They say jump, I say how high? :-) Slightly tongue in cheek, as there are other factors (exclusivity being one of them).

    As a customer, my main loyalty is definitely to my wallet these days, although of course, when there's an over-riding factor like "must be there on time" I'll pay extra - but even then I'm likely to end up firmly with Amazon.

    The product based businesses I promote in my offline business all use loyalty techniques of varying types - one of their affiliates has just taken the step you commented on, by making their products exclusive to our business, even though they had achieved a great ranking on Google.

    Thanks for the ideas to keep customer loyalty and the selection of tools to increase customer retention. Now that competition for your spend is so high, it's important to use every trick in the book.

    Great share Erik.

    • EE

      Erik Emanuelli

      about 2 years ago #

      I use to work as Export Manager in the stone business (tools for the surface of marble and granite).
      While my experience of selling to foreign markets have been "normal", my colleague doing the Italian area has shared with me some weird tales. The people in charge of deciding the supplier (who often were the ones actually using the tools on the stone machines) often asked for something in change. A gift, let's say. Or you can name it, a "reward" for being loyal to the supplier.
      Well, those guys received every kind of items, from DVD players to bottle of wines, even a small car, for the big companies and huge turnover!!!

      • SH

        Sam Hurley

        about 2 years ago #

        And they actually ASKED for it?! Oh man ... Well, you can't beat a bit of initiative / cheek. LOL!

    • SH

      Sam Hurley

      about 2 years ago #

      WOWZA, Joy! :-O That's one serious customer right there! :-O

      Your comment made me laugh! I can imagine it being a VERY close relationship after so many years, and I bet you both turn it into a slightly comical / lighthearted affair when it comes to favours / exclusivity :-D

      Amazing to hear your experience!!! What a stat!!!

      I've witnessed some insane offers of exclusivity for the rich ... One was a dentist offering this whole experience of a luxury chauffeur, private jet (if needed), hotel stay, pampering / spa and a whole load of other stuff ... This all came with what was simply a teeth whitening service!!! And it was something crazy like £30k.

      FOR A DAY.

      And you can bet they get frequent customers!

      I'm starting my dentistry course tomorrow. LMAO.

      Thanks again, Joy!!
      Sam :o)

  • RB

    Ryan Biddulph

    about 2 years ago #

    Hi Sam,

    Gamification is such a neat concept. Dials us in to addiction, but in a good way. I recall loving when I reached that next level, for bonus points and other rewards, when I played my old skool Nintendo LOL. Why not apply the same concept to forging strong bonds with repeat customers. I over deliver with every post, eBook, video and across all my social platforms, trying to be the gift that keeps on giving for my eBook, course and audio book customers, as well as for my clients. Thanks for sharing :)

    Ryan

    • EE

      Erik Emanuelli

      about 2 years ago #

      Old school games, I loved them, Ryan!
      I recall my first one, a Commodore 64, in the 80s.
      I plan to add gamification principles to my new project, a platform to learn blogging and online business.

      • SH

        Sam Hurley

        about 2 years ago #

        Looking forward to seeing this, Erik!!

        (I've still got a Commodore + Atari)

        :-)

    • SH

      Sam Hurley

      about 2 years ago #

      LOL!!! I still have mine! Hahaha.

      I can full relate to your methodology, Ryan. Provide awesome value + fun at the same time ... And that's pretty damn unbeatable for nurturing loyalty.

      Make people feel special. Do a good job.
      SUCCESS.

      Thanks man!
      Sam :-)

  • EM

    Eren Mckay

    about 2 years ago #

    @erikemanuelli I really loved this post. It's filled with actionable tips for customer retention. The gamification concept truly works if the company knows what types of rewards will truly motivate the customer to purchase.
    I've bought more products from stores just because of the rewards that I would get. Everyone wants a great deal.
    The idea of personalization at every step of the customer journey is also successful because it caters to the basic human need to feel valued and recognized.
    Other than the great strategies, there are so many tools for us to choose from to get the job done. Awesome article by @sam___hurley .

    • EE

      Erik Emanuelli

      about 2 years ago #

      @erenmckay Thanks for the feedback, Eren.
      Sam know his stuff and always deliver content with added value.
      You're right about the gamification principles.
      In past, I use to buy from a supermarket just from getting the points and the rewards that I would get.

    • SH

      Sam Hurley

      about 2 years ago #

      WAHOO!!! Eren rocks! :-D

      Thanks for your kind words and support, my friend :-)))

      "Everyone wants a great deal."

      Yup! And if you can't give it to them, they will shop somewhere that does, right?!

      Couple rewards with personalization + awesome service ... And you're pretty damn unbeatable.

      Thanks again!
      Sam

  • LR

    Lorraine Reguly

    about 2 years ago #

    Customer loyalty is one thing most businesses strive for, and it's interesting to see so many neat tools available to use to increase this.

    Great share!

    • EE

      Erik Emanuelli

      about 2 years ago #

      I need to test Queue, Lorraine, for gamification principles!

    • SH

      Sam Hurley

      about 2 years ago #

      Thanks Lorraine! #Truth

      Keen to hear how you get on using the tools, if you decide to at any stage! :-D

      @erikemanuelli >>> Queue is quite expensive, but VERY powerful. Just a heads up!

  • SH

    Sam Hurley

    about 2 years ago #

    Thanks for sharing this one with the GH community, Erik!! :-D

    These magnetic tips will hopefully enable a better customer experience strategy for businesses of all sizes...

    I know you definitely use content marketing ;-) Any others you actively use or plan to implement soon? :-D

    Cheers, man!
    Sam :-)

    • EE

      Erik Emanuelli

      about 2 years ago #

      Hi Sam,
      super interesting techniques here!
      Thank you for writing this post.

      I like the concept of gamification and how it is applicable to a blog (other than a business site), without spending anything or, in any case, with the investment of a niche product or service as a reward.

      Take "Cubepoints", for example. It's a free WordPress plugin that can be used to assign points to each registered user in a blog who performs specific actions like visiting a page, leaving a comment, replying to other commenters, etc. You can then offer a reward to the most active users (an eBook, for example, or the access to your latest course).

  • BP

    Brenda Pace

    about 2 years ago #

    Hey Erik!

    Love this article by @sam___hurley ! Customer satisfaction is extremely important, especially in retaining your customer base. I absolutely love it when I have clients return to me for more web work, advice, or techy service. I must be doing something right, if they return, right?

    I like discounted subscription plans. You know, it's one price for one time or monthly deal BUT get an annual plan at a discounted price. Total incentive! Rewards (gamification) are also a fabulous way to have people coming back. Like Affiliate Programs. Promote my product, that hopefully you use, and I'll reward you.

    I love the suggestions and opportunities listed in the article. That Sam is one cool cat! ;) Meow!!!!!

    B

    • EE

      Erik Emanuelli

      about 2 years ago #

      Thanks for the nice feedback, Bren!
      I loved Sam's post!

      Super subscription plans? I recently visited a site that is doing it right.
      Tokyotreat.com
      Excellent design, fantastic products, and effective marketing strategies.
      I wanted to subscribe, but I'm afraid I'll take several pounds, with all those tasty treats. :)

      • SH

        Sam Hurley

        about 2 years ago #

        HAHA!! Erik!!! :o)

        Thanks for the site ... Loving it ;-D

        Brilliant example of a super sub plan!

        I'm *really* chuffed you both enjoyed the article :-)

    • SH

      Sam Hurley

      about 2 years ago #

      It's a great feeling, right Bren?! :-D

      Brands don't get 9 lives these days ... Either make your customers happy, or lose them. #Simples!

      Rewards systems make people purr with joy. Customers soon return without paws or delay! ;-D

      Thanks Bren!!!
      Sam

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