Customer Loyalty Programs Tips and Solutions

loyalty programs1The ability of companies to retain customers through repeated engagements is the major factor that leads to the increased profits for a business. Firms that excel in the retention of customers can be assured of not only long-term success but will have a greater edge over their competitors.

So what is the secret behind these businesses that makes them masters when it comes to customer retention? There are various factors that contribute to high levels of customer retention strategies, but the most productive is definitely due to the high standards of customer service. No matter how a customer service is created, it is designed for a positive and pleasant experience for the customer so as to increase customer loyalty and finally, customer retention on a long-term basis.

Customer care in any form is a worthwhile investment – so here are a few customer care tips and solutions that can help your business to get going for high customer retention.

1. Service with a Smile

Not many business owners believe that “the customers are serving him than the other way round” or that “the customer is always right” and he may well be right to think so! But when it comes to situations where customers are upset and are prone to seek attention through emotional flare-ups, it will go a long way to be calm and bring the situation under control by pacifying the customer with kind words and a smile and going out of the way to indulge the frustrated customer.

This approach may seem a little over the top, but in the long run it will reflect positive results on your company thus resulting in long term customer retention.

2. Be Responsive to Complaints and Complements

Every business should be willing to learn from past experiences – especially bad ones! Analyze them and ensure that the same mistake is not committed a second time. This policy should be inculcated into your business with each and every complaint from a customer is handled in a timely and befitting manner ensuring that the same complaint will not have to be dealt with, a second time.

Consider complaints from customers as new ways and means of bringing innovative ideas to improve your service or products. In the same way, it would be a good idea to make use of compliments as reinforcements to add strength to your company’s plus points.

3. Interact With Them

There isn’t a more simpler and effective way to retain customers than just interacting with your customers and finding out what they expect from your company and how they want it delivered. It matters little how you do it – whether it is through an online survey, over the phone, a printed survey, through email or in person – the vital part is that you interact with them! You’ll be amazed by the responses that you’re bound to get, many a time saving you from heavy spending on market research.

Conducting customer focus groups have the advantage of giving you a platform to find out about their collective requirements and expectations, showing your appreciation for their time by giving discounts or rewards for their next purchase.

4. Be an Immediate Solution Provider

Though we don’t realize it, customers are smart and are able to sense increasing sales pitch well in advance. Though customers enjoy buying, they hate being sold to. It would be a smart move to take up that stance of being a solution provider and convincing that you really care about the requirements. Be a patient listener and show them that you are genuinely concerned, interacting with them and helping them to get what they need so that it is beneficial to both parties. This is a win-win approach which is the secret for a high level of customer retention.

5. Introduce a Loyalty Program

Customer Loyalty Programs are effectively and productively used by businesses like the airlines industry and have proved to be outstanding for customer retention. There are many companies like Starbucks who have found success is customer retention through their loyalty programs. There are innovative variations of loyalty programs that can be introduced for your customers that will make them remain completely loyal to you and thus help you with customer retention.