What feels better than attracting new businesses? Turning those people into brand loyalists and repeat customers for life.
It's better for business too.
According to SEMrush, the probability of selling to an existing customer is between 60% and 70%. And the probability of selling to a new customer is only between 5% to 20%.
Despite these figures, 44% of businesses focus on customer acquisition, while only 18% focus on customer retention.
There are several customer retention strategies organizations can focus on.
Take these five strategies, for example:
- Running semi-regular customer satisfaction surveys
- Being open to change
- Offering discounts/perks for existing customers
- Being transparent with customers
- Showing off your good reviews
Each of these steps can help you boost loyal customers because they help you improve the buyer’s experience. With a better customer experience strategy in place, you can look forward to improved business.
In this post, we’ll go over each strategy and tell you how to increase repeat customers.
1. To Know, You Gotta Ask
Let’s start off with customer feedback surveys.
Aiming to measure the satisfaction levels of your customers, these surveys are essential if you want to improve your retention rates.
For instance, questions can focus on perception, likelihood to switch to a competitor, likelihood to recommend your brand, pricing, and other common factors that will identify why customers are or are not making repeat purchases.
Here are a few customer satisfaction survey questions our team recommends most.
Along with yielding priceless data, key metrics will also be incorporated into customer surveys:
- Net Promoter Score (NPS)
- Key Performance Indicators (KPIs)
- Customer Effort Score (CES)
These metrics will help you see where you stand in comparison with your peers.
Customer satisfaction surveys are often done online, in the form of an email. The questions you ask and how long the survey really depends on the topics you want to focus on.
Because this type of market research is conducted online, it is affordable and delivers results fast so you can quickly make adjustments to your business, marketing, and sales strategies.
💡 The Key Takeaway: If you’re wondering how to increase repeat customers, surveys are your first go-to. By surveying your customers, their feedback will tell you what’s working and what isn’t when it comes to your business.
2. Change It Up
So, you know how we talked about getting customer feedback in our last section? It’s only useful if you implement it.
Meaning that if you get some not-so-great yet constructive feedback, don’t be resistant to adhering to it.
Part of running a customer satisfaction survey is getting negative feedback from those customers. Sure, you’re likely to get good feedback too, but the main idea is to use buyer suggestions to better your brand.
When going through your final report, be open to the idea of changing aspects of your company that is brought up by your customers. If there’s a core topic that’s coming up over and over, change it.
For example, if 78% of customers report experiencing difficulties with the checkout process of your online store, then this is something that is a high priority fix.
💡 The Key Takeaway: When learning how to create repeat customers, you need to understand the art of accepting constructive criticism. If you’re receiving feedback from your survey that isn’t good, brainstorm about how you can fix the problem.
3. Show Your Appreciation
Who doesn’t love a discount?
This section is going to be pretty simple: customers feel valued if they receive a special deal because of their loyalty. How much of a deal or discount you want to offer is up to you (the better the deal, the more customers will use it).
Let the numbers talk: A whopping 91% of customers have a higher chance of shopping with a business that offers good deals.
Don’t be afraid to get creative with it! What are already popular items or services that you offer? Consider using these as the item to discount for a big annual sale.
Customers feel valued when they know they matter, so make the most of that!
💡 The Key Takeaway: Offering perks to repeat customers can seal the deal. Pay attention to items or services your customers are paying attention to, and see how you can incorporate a discount.
4. Embrace Transparency
This goes hand-in-hand with our section on change.
Transparency in a company is a highly valued trait. For instance, think about the brands you like. Are any open about their work environment, practices, or any other important information?
Customers like that, because they know they’re purchasing from a trustworthy brand.
The opposite is also true.
Say a company has a major, public faux-pas. Hiding it and not taking the time to properly address it severely hurts a brand’s image, and often results in customer loss–certainly, no repeat customers are gained!
Recently, it was found that 89% of customers will trust a brand after a faux-pas if they address the problem.
If you find your company in this position, act fast, but thoughtfully. Consider investing in a brand tracker survey to help rectify the situation.
💡 The Key Takeaway: Customers appreciate brands that are open about their practices–and open about their problems, too.
5. Show Off Your Wins to Increase Repeat Customers
Do you have any good customer reviews or testimonials? Use ‘em!
You can do this in a couple of different ways.
First, consider taking those reviews (anonymously, unless told otherwise), and creating eye-catching graphics out of them. Posting things like this on your social media platforms is a fun way to grab the attention of potential customers.
Sites like Canva easily allow you to make these.
Second, consider asking for customer or client testimonials. These can also be used on social media and can have their own page on your website.
By reading positive reviews and testimonials, customers know they’re getting into something good when they buy from you. Guess what that can lead to?
💡 The Key Takeaway: Take your positive feedback and run with it! Look into fun and visible ways you can recreate this feedback into content for your brand.
By now, we like to think you’re well-versed with reaping the benefits of repeat customers!
Drive Research is a market research company based in New York. Our team boasts years of combined experience in all things customer satisfaction. Together, we’ll work with you to gain (and keep) a loyal customer base.
Would you like to learn more about our market research services? Reach out to us through any of the ways below.
- Message us on our website
- Email us at [email protected]
- Call us at 888-725-DATA
- Text us at 315-303-2040
As a Content Marketing Specialist, Lark has a strong background and passion for creative, professional, and journalistic writing. She is also a self-proclaimed music freak and 90s enthusiast.
Learn more about Lark, here.