ChicExecs VP of Public Relations and Digital Media, Kristen Wessel, shares four ways you can start building customer retention on Forbes blog.
A life-changing event such as the one we’re navigating right now is sure to change consumer buying habits. As more people find themselves being impacted financially, they may begin to rethink their expenses and adjust their budgets. In addition to affecting purchasing power, a crisis changes buyer perceptions on what money should be spent on. What was once a luxury splurge might now seem like a waste of money. On the opposite end, a frugal purchase might now become an economic investment.
Assuming your company is giving back or helping others in some way, that message will only take you so far and during the height of the crisis. As life moves on, so will your business, and you need to be prepared for constantly changing buying habits. Start thinking ahead when it comes to your customer loyalty and retention strategies.
1. Tell a backstory or founders story so customers get to know you personally.
Your company’s story is a powerful tool in creating brand awareness. It gets to the heart of why people should purchase your product over hundreds of competitors out there.
2. Know their needs and cater to them with new products and ideas to meet demand.
In a crisis such as this pandemic, businesses are finding new ways to stay relevant with the main products they offer as they also pivot to those that serve great public interest, such as masks and hand sanitizer.
3. Offer discounts, incentives and subscriptions for return customers to keep them loyal.
These age-old practices work in favor of brick-and-mortar retail models, and they can be applied to your company as well.
4. Send marketing emails about company news so customers feel they’re a part of the growing business.
Whether you call it junk or spam, don’t call it a waste of time. According to a past McKinsey survey, email remains nearly 40 times more effective to acquire customers than social media (Facebook and Twitter combined).
Read Kristen Wessel’s full blog on the ways you can create a loyal customer base at a time when purchasing habits continue to change.