3 retention strategies to help prevent customer abandonmentPosted: May 8, 2020 - By Elizabeth Velez
Your business has likely gone through some changes in the wake of the COVID-19 pandemic. Whether you’ve had to significantly reduce business, or completely shut down, eventually your business will be back in full swing. In an effort to reduce the economic fallout on your business, it’s crucial to implement strategies now that will maximize customer retention. Here are 3 strategies to help you prevent customer abandonment.
1. Embrace virtual communications
Video conferencing is the next best thing to in-person consultations. Many businesses are discovering that communicating with customers virtually is just as productive as in-person meetings, and is also more convenient. A simple Instagram or Facebook post is an efficient way to inform your customers of your virtual availability. Instagram Live gives you the opportunity to invite followers to participate in your Live video. Use this feature as a strategy to promote your virtual consultation service. Giving customers the opportunity for an on-the-spot consultation will demonstrate to viewers the simplicity and effectiveness of a virtual meeting. Remember to create an initial post where you inform customers when to tune in to your Live video.
2. Segment Customers
To effectively serve customers, it’s important to tailor your messages to their specific needs. Rather than sending irrelevant product or service messages, which may be quickly dismissed, use email and Facebook Ads to target customers with a more personalized message. Relevance increases engagement, and thus yields better results by maintaining your customers’ interest in the specific products and services that they get excited to buy now and in the future. In addition, consider segmenting customers by price point. This strategy is an efficient way to prevent customer abandonment by presenting products and services within their regular spending threshold.
3. Transparency and proactive communication
Being honest with your customers about how the pandemic is affecting your business makes it easier for them to adjust their expectations in advance. As a result, customers are less likely to be upset if you cannot offer the services they are accustomed to. Whether you’re experiencing temporary closures, adjusted business hours, or offering limited or new services, it’s important to communicate this with your customers. Instill trust in your business by engaging with customers via Email, Instagram, and Facebook posts that communicate how your business is needing to adjust to the developing impact of the COVID-19 pandemic.