3/2/17
The rising costs of finding, attracting, and converting new customers, makes customer retention a priority for businesses of all sizes. In fact, research shows that 65% of a company's business comes from existing customers.
Managers and sales associates will have better knowledge regarding what the customer is looking for, what their needs are, and what type of service and experience they expect when shopping.
Designing and executing a customer retention plan is crucial in creating more opportunities for repeat PC sales.
Creating a customer retention strategy has many benefits. Here are a few of them:
Loyal and repeat customers don’t occur by accident. There may be many factors that keep them coming back to your store to make their technology purchases. Going through the process of creating a solid customer retention strategy helps reveal those factors to you.
Listening to manager feedback regarding ideas to increase device sales, we hear how important repeat and loyal customers are to the success of any idea that’s implemented.
There are three common factors used in many retention strategies. As managers, keep these in mind for your own store efforts.
With the advancement of technology, the capabilities of today’s devices, and the influx of social media, customer expectations are at an all-time high.
We are all customers at some point. Do you feel like you know more now or at least have access to more information about a product before you buy it? Do you expect the sales associate you’re dealing with to know more than you do about the product? Do you think the process of purchasing something should be faster and more seamless than it was even just three years ago?
Customers shopping for the latest devices would probably answer yes to these questions. Not every interaction with your sales team has with customers will be perfect, but it’s important to understand what your customers expect in order to meet and try to exceed those expectations on a regular basis.
Exceeding customer expectations is what creates loyal and repeat customers. This is the customer who can be your best brand ambassador.
On the other hand, customers tend to long remember bad experiences and are eager to share them with others. Social media and review sites make it easier than ever to share these experiences with masses. That little # symbol with your store name behind it is a powerful messenger.
Research shows that 55% of consumers are willing to pay more for a better experience. That’s great news for those in the competitive retail environment. As Roger Staubach said, “There are no traffic jams along the extra mile.”
Building relationships with your customers is a fantastic way to retain them and it all begins with communication. This is especially important in highly competitive industries because without communication, it is easy for competitors to sweep in and steal your customers.
However, simple communication is not enough.
Instead, customer retention success revolves around effective communication. For example, it’s important to determine what your customers' needs are to communicate with them effectively. Personalize and tailor communication around their needs.
Your sales associates can have a strong knowledge base about the products they sell, but if they can’t communicate that knowledge effectively with customers, they aren’t creating a very good customer experience.
Along that same line, if associates don’t understand how to approach customers and engage with them in ways that establish positive relationships, they aren’t creating a compelling reason for customers to choose you over another competitor or the online shopping option.
Providing your team with sales tips as well as brand and product training increases the chance they will know how to effectively communicate with customers in order to establish great relationships by understanding their needs and directing them to the perfect device to meet their needs.
Personalizing the customer experience is a hot topic of discussion in most any industry. Steps for achieving this should definitely be part of any customer retention strategy.
Technology and data allow you to know more than ever about your customer base. This information helps you and your sales team better understand their needs. It also allows you to appeal to their emotions and feelings. Customers want to feel as though you truly care about them and that they matter to your brand.
Customer behavior is often related to their emotions. If they feel as though the sales associates are indifferent to their presence, they will find another business that makes them feel accepted and valued.
When customers have bad experiences or receive poor service, they tend to feel the business doesn’t value them. This decreases the chances that they will purchase a device from you or return to your store.
When you are able to appeal to your customers' emotions, you can create a community with a sense of belonging. When they feel as though they belong, they will continue to make purchases from you rather than stray to the competition.
Do you have a customer retention strategy that lays the foundation for creating compelling reasons for customers to repeatedly choose your store when making PC and other device purchases?
Your sales associates are in a unique position to provide great insight into customer likes, dislikes, and behaviors. Incorporating their feedback helps create a well-rounded retention strategy.
Management-level staff are an integral part in the creation of a customer retention plan and sales associates are an integral part in the implementation of it. Ensure they have the appropriate training to carry out your corporate strategies for growing a loyal, repeat customer base who comes to your store to purchase all of their devices.
To help your employees better prepare for customer retention, encourage them to participate in the Intel® Retail Edge Program. They will learn about the latest devices and technology powered by Intel and sales tips and training for building great customer relationships.
Editor's note: This post originally published in June 2016 and has been updated for accuracy and freshness.
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