What is Customer Retention and Why is it Important?

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In tough economic times it may be difficult for businesses to distribute new marketing campaigns all the time. The time and cost involved in obtaining new customers may not be worth it. Yet managers seem to drive their sales and marketing staff all the time to find new customers when they should be focused on retaining current ones. Retaining customers helps businesses prepare for future industry and market events no matter what they are.

It is wise to build upon existing customer relationships. Due to the large costs you incur from generating new sales campaigns to generate new customers you can save a lot of time, money, and effort on your current customers. You can create groups of one time customers from continuous repeat customers. One time customers are those who have only purchased your products and services once and may have never renewed their service contract or made another purchase. These customers can be pursued by sending email campaigns to drive them back to your site and services.

Have a plan and approach

If you plan to retain customers you need to know why they chose your company to begin with, if they are repeat customers, or if there’s potential for one time customers to become repeat customers. If you have a general idea of what your customers need, you should develop a plan to capture as much data as you can in order to ensure your company can provide those needs. Understanding this first will help you find gaps in your service and products which you can then fill before attempting to deploy any new retention campaigns.

Train your staff

If your sales and marketing staff don’t know how to properly contribute to a comprehensive view of your customers, you are going to miss valuable insights. Your staff must be properly knowledgeable in how they can best provide customer service. Sales staff must know what products have been sold to customers, service staff must know account status, and finance staff must know about customer service issues. With sales, marketing, and finance it is wise to cross train these departments to a certain point so each of them have some knowledge on how to best answer customer issues or concerns.

How can ONE.AI help?

Your employees might be in tune with your customers however ONE.AI can help move that forward with a customer retention plan that will keep your customers coming back for years. With the development of chatbots, businesses have seen a revolution in customer care service and retention.

Customers prefer texting over calling!

More and more customers prefer texting over calling and thus chatbots seem like the easier option for them. Chatbots work in a 24/7 mode without any breaks and they are always on. It means that by adopting chatbots your customers can be taken care of instantly, anywhere and anytime.

Chatbots can collect data!

Chatbots are excellent in collecting customer data. Coupled with proper analytic tools, the collected data can play an important role in understanding your customers better and thus serving them better.

Chatbots drive engagement

ONE.AI chatbots work via different social media channels like Facebook Messenger, Skype and Telegram. Configuring ONE.AI chatbot for these channels is as easy as it can get. You can have your Facebook Messenger chatbot running in less than 10 minutes. The interactivity that ONE.AI chatbots give you is priceless at it plays key role in retaining your customers.

Are you ready to try this amazing technology? Get started now for FREE and enjoy your no-credit card required trial service for 14 days.

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