Getting new customers can be difficult. Oftentimes, this can be one of the most difficult tasks a company can have. In today's economy when the market is tightening their collective belts, new customers can be a challenge. However, being able to depend on your loyal customers can significantly ease concerns on cash flow and longevity.
Notably, the top 1% of your customers can spend more than 30 times your average customers over time. This makes them even more valuable. Turning new customers into regulars must be a focus for any business.
Thankfully, with online consumption and online shopping at an all-time high, it's even easier to stay connected to your market. When businesses use chat and SMS together, the effectiveness of conversational marketing is even more pronounced.
How Chat and SMS Help Retain Customers
Engaging with your customers in the channels they prefer is important to build goodwill with your customers. Remember the following facts:
- 82% of customers expect an immediate response when they have questions (source)
- 53% of buyers are more likely to buy from a business they can communicate with (source)
- 61% say that messaging as a way to communicate is the easiest way to connect with a business (source)
- Millenials are increasingly gaining the predominant purchasing power, prefer instant messaging as a support channel (source)
Whether it's a conversation through instant messengers or SMS, consumers expect quick responses to their questions to the businesses they interact with. Failure to respond quickly can mean loss of opportunity and sales.
Making sure that your business can interact with your customers through both SMS and chat can be a differentiator. If they're on Facebook, Messenger can be a key communication tool; otherwise, SMS can reach those who do not have mobile data.
Follow Through After First Contact
Make sure you follow through after the first time they interact with your business. This is why automated responses are important, whether it's on instant messenger apps or SMS.
Regardless of whether it's an actual purchase or simply an inquiry, making an impression afterward can be favorable to your business. This is why setting up a message to thank them for their purchase is important.
Don't be pushy, but give them the option of signing up for further updates through a mailing list or an SMS list. If you have a website for your products and can set up membership for your customers, even better. Make sure they know the perks of building a better relationship with your brand: saving their details for faster checkouts, accessing past orders, remembering their favorite products, and so on.
Give Back to Your Customers
Don't underestimate the power of lead magnets. These are offers, promotions, or other incentives that you can give potential customers in exchange for email address or phone number.
These can serve two things: as freebies and support for your current customers, but also ways to grow your own customer base.
What's great about this is that once you provide these, you can leave it available for your current and future potential customers alike.
Evaluate and Update
Don't forget to always review your customer retention strategies. The market is always changing, and what works a year ago might not be as effective now. This is even more important in a fast developing marketing landscape like conversational marketing.
Always check to see if your marketing efforts to keep your customers engaged are working as you want it to, or if you need to change it up.
A little planning can help you easily turn potential customers into loyal customers.