Customer retention refers to the actions that a company takes to increase the number of repeat customers and reduce the number of one-time shoppers. The goal of customer retention programs is to help companies retain as many clients as possible by creating a positive experience for the customer and encouraging them to return the next time that they need a service that the company can provide.
Implementing a Customer Retention Program That Actually Works
What are the business benefits of customer retention?
Many small businesses will spend more money on customer acquisition than they will on retention, because they view it as a quick and easy way to increase their revenue without actually putting in work to establish brand loyalty among their existing customer base. However, this is a novice mistake. Customer retention is often faster, easier, and more cost-effective than getting new customers in your door for the first time.
It makes sense when you think about it: customers have already been attracted, educated, and converted. They’ve already expressed an interest in the product or service you are providing and have engaged with your brand, which means that customer retention is a very cost-effective and sustainable way to grow your business.
What keeps customers coming back?
The truth is that customers don’t come back for the top of the line product - they can get that at any other tire shop in town. They come back for the experience. With unlimited options before them, they are likely to turn to the companies that make them feel the best about their purchase decisions.
What does that look like in practice? To keep your customers feeling good about their relationship with your shop, you should:
- Train your staff to be friendly, respectful, and helpful at all times
- Invest in a customer loyalty program and reward repeat business
- Communicate with your customers whenever it’s time for a tune-up or a new set of tires, or when you have a killer deal that they should be aware of
How can BAYiQ help improve customer retention at your tire shop?
BAYiQ’s consumer-facing elements are not only designed to help you acquire new customers, but also to capitalize on your existing customer base and establish a loyal following. Our consumer platform can help you set up and manage your shop’s rewards program, communicate promotions, and seek out referrals from your loyal base. Our easy-to-use customer portal also gives your clientele the power to communicate with your shop in the most effective way possible.
Whether you have one shop or 20, 100 customers or 5,000, BAYiQ’s platform can help you develop and manage an effective customer retention program that will positively impact your bottom line and keep them coming back for more.
Our marketing communication platform, rewards program, customer portal and review management system increase satisfaction for auto shops - read more here and schedule a demo today!