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Time to Focus on Customer Retention Strategies to Bring in More Profit!

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Time to Focus on Customer Retention Strategies to Bring in More Profit!

Time to Focus on Customer Retention Strategies to Bring in More Profit!

A business name is known more by its customers than by its employees! Customer acquisition can sometimes be the glittery new gem that gets all the attention. But there’s a common misconception that businesses need to get new customers if they want to make more money. Receiving new customers is obviously beneficial and can help your business grow but focusing on customer retention is a much more viable and cost-effective selling approach. According to research;

Acquiring a new customer can charge five times more than retaining an existing customer.

Considering that fact, let us introduce to you some top customer retention strategies to help your cell phone repair business increase profit margins;

Start a Customer Loyalty Program

One of the most effective ways to drive customer retention is to get to know your customers and provide relevant value through a customer loyalty program. These initiatives help them remember you and help you stay on top of their minds.

“The purpose of a business is to create a customer who creates customers.” – Shiv Singh

Begin either by issuing them a promo code, discount on their next purchase, a ‘buy-one-get-one-free’ program if they return, or putting some sort of membership in place where they receive regular discounts on some particular repairs or purchases every time, they visit your repair shop.

Create a Community for Your Brand

One quick way to encourage promotion and community is by creating a poll or discussion board on your business page using social media.

Make sure you have active social media platforms for your repair business to check on your potential customers frequently. These days, everyone uses social media regularly, and people rely and trust on brands who’ve got positive customer reviews. A community will give your customers the opportunity to discuss important topics and ask questions about your products and services.

As reported by Invesp: “Increasing customer retention rates by 5% increases profits by 25-95%”

Customer Engagement & Personalized Follow Ups

Customer Engagement is an on-going dialogue. It means listening to customers and making them feel that they truly matter. It is important to reach our customers on a personal level and contact them on a regular basis to find out what they like or what you can improve on.

How did your customers like your service? What do they have to say about your repair store? Find answers to these questions and tailor each shopper’s experience based on their feedback and preferences. RepairDesk helps a lot in retaining your potential customers!

Learn more on How to Use RepairDesk to Keep Your Customers Coming Back?

Learn from Complaints

Always consider complaints as an opportunity! 96% of dissatisfied customers don’t complain. They just walk away, and you’ll never know why. Customers who complain are giving you a gift, they’re still talking to you, they’re giving you another chance to return them to a state of satisfaction and delight them.

The key to respond effectively is making customers feel rewarded or that they’re getting something of value whenever they walk through your doors.

Keep Your Promises & Show Them

Here’s another killer fact for you: according to Marketing Metrics;

The success rate of selling to an existing customer is 60-70%, while the success rate of selling to a new customer is only 5-20%!

Treating your customers as humans rather than sales numbers is extremely important for customer retention. Look out for their pain points, address their issues and think like a customer; rather than just closing a sale, understand what they want. Keeping promises is the most effective way to gaining customer loyalty and a silent promise from your shoppers too, that they’ll come back to you.

RepairDesk makes your life easier by helping you manage your work effortlessly and with just a few clicks. We have everything – from creating repair tickets to inventory management and more. Get a FREE trial of our all-in-one POS software for your cellphone repair store and see it for yourself!

Sign Up for a 14-day FREE Trial!


Comments

  1. Subhash

    Nice blog, very interesting to read about RepairDesk POS.
    Thankyou

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