Firstly, what is retention? Everybody seems to have an opinion on what this term means so I thought I’d clarify and elaborate on a definition that is most applicable to this topic. Retention is creating or establishing a relationship with customers so that they are more likely to stay with you and repeat purchase in the future.
To ensure that retention is achieved, there are specific actions that need to be implemented so that this is achievable.
Having an online presence can be tough, especially if you don’t have a physical store. The secret is knowing what elements are needed to achieve retention. Here we have outlined what needs to be done so that it can be obtained.
Email Marketing
Email marketing has become a popular platform which many businesses have incorporated into their marketing strategy. There is a whole host of benefits that can be gained from email marketing, and one is retention.
Retention is achieved through email marketing as it communicates with groups of people that have or have had an interest in your services. Already your foot is in the door as these are customers that are interested in what you offer. By effectively communicating your message, your customers will be able to identify a brand. Repetition is key when sustaining your customer base and this leads to retention. Email marketing is effective when it comes to specific industries such as travel and associations as the response rate is high.
To enhance the execution of an email campaign, segmenting your target audience is key. The response rate is higher than sending it to a database of people that could potentially have no interest and this affects the effectiveness and efficiency of the email campaign. Segmenting your clients can achieve greater returns on your investment and it also means that there will be less bounce backs.
Social Media
Social media has had a massive effect on the way that businesses and individuals engage with each other. Statistics show that over 80% of the British population use social media as an interactive platform to engage. Businesses update and inform their customers of what they are doing and what has been happening in the company. The use of social media allows for businesses to communicate discounts and offerings which can be viewed 24 hours a day, 7 days a week. Social media is a great way to build customer relationships and a platform to deal with customer complaints. By segmenting your market so that an effective email campaign can be executed and then reinforced through social media can enable your goal of achieving retention.
There are many marketing agencies up and down the country that can help in achieving your goal. In the Midlands there are marketing agencies in Leicester who can offer their expertise and knowledge so that you can achieve your goal.
By Jema Daya
Jema is a Marketing Executive at FDC in Leicestershire. You can reach Jema on Twitter @fdcstudio