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Customer retention strategies are applied by businesses when they want to retain their customers for a period of time. The aim of customer retention is to hold on to the user / consumer / buyer for the longest time. Therefore there is a big difference in new customer acquisition when looking for potential leads. Retaining your customers is far more important and sustainable than acquiring new ones.
If a customer has purchased at least once from your business they are a target in the retention program that you seek to implement.
Research stated that 40% our sales in most cases are sold to the past customers. There is a high probability of making a successful sale to a past customer is almost 70%. Further, loyal customers are 50% more willing to try a new product of yours than new customers.
Retaining customers is a never ending cycle and it is mainly distinguished into three key phases.
Obvious first step is to attract the attention of your potential customer.
Once a customer shows interest it is important to accompany them up until the first transaction is done.
Once the purchase is done then the next focus has to be to make an effort to keep the first attention. If the spark remains the customer will eventually be another new ambassador.
There are many struggles in implementing customer retention outsource in Sri Lanka. With digital marketing being the key weapon users feel less well informed and actually confused as to the reliability of their information sources.
There are many websites, blogs and other digital platforms that impact brand images for both good and for worst. Even today the most consumers make decisions based on the age old methods such as;
Word of mouth
Recommendations by other shoppers
Articles in the media
Analysis reports and reviews
Review and independent sources websites
Customers are on the other hand impatient and hence customer acquisition has become complex more than ever. It is also very important to find the right service provider to implement the right strategies and to carry out the right service. Hence choosing the right customer retention service provider in Sri Lanka is absolutely important.