As a small business owner, retaining the clients you have as attracting fresh clients costs almost seven times as much as it does to maintain a current customer is essential. Furthermore, you are fourteen times more probable to purchase from your current clients than a fresh client. Here are the following facts:
- Eighty-six percent of customers say loyalty is mainly motivated by liability and eighty-three percent say confidence. (Rare)
- Within a day of experiencing bad client service, 47% of clients would bring their company to a rival.
- (24/7) Customer switching costs due to bad service are estimated at $1.6 trillion.
- (Accenture) 60 percent of mobile coupon users say they will “happily change brands to use a coupon”
- (GfK) 27 percent of tiny company owners estimate that 11-20 percent of first-time clients do not return to their company
- (Belly) 32 percent of managers say that retaining current clients is a priority
- (Forbes) 66 percent of businesses that saw a decline in client loyalty over the world market.
Business is a game of numbers. So how do you get more clients and maintain them at a reduced cost? The trick is to concentrate less on advertising and more on the retention of clients, leveraging current clients to bring in fresh ones. Mobile apps can be one of the greatest customer loyalty and retention investments you can create.
Surveys indicate that 73 percent of satisfied clients are going to recommend your service to others, and positive customer testimonials are far more likely to affect individuals than the marketing messaging of a brand itself. In other words, a goldmine is your current clients. They need less investment, purchase more, and take with them, fresh clients. You can even ask customer feedback with a mobile app, and what’s so good about this approach is that clients downloading your app will usually write a favorable review because they’re faithful clients.
Why You Should Be Using Apps to Increase Customer Loyalty
Here are a few more mobile app suggestions for customer recognition:
Adopt a Mobile App Retention Tool
Apps assist you to maintain a pulse through sophisticated analytics on your customers. Track in-app operation to see the content type that most attracts consumers. View demographic information to help you refine your marketing and sales initiatives. And most importantly, use functions such as geofenced push notifications, mobile newsletters and loyalty programs to maintain your client base thriving.
Adapt or Die
Don’t sit on your information— adapt and develop with the trends you’re uncovering. Do you understand why Richard Branson, Virgin Atlantic Inc.’s billionaire owner, lost to Silicon Valley venture capitalists when he attempted to go with Uber head-to-head? One easy reason: an algorithm, data-supported Uber. Analytics transformed Google from nice to good and Uber into the peer-driven giant in transportation from an audacious undertaking. The businesses launched their service, collected the information, then refined it based on the requirements of the clients.
Focus on Customer Service
Ninety-seven percent of customers consider customer service to be the most significant factor in the choice of a brand. And after signing up, client service weighs strongly on client satisfaction and net promoter score— or the probability that someone else will be recommended to your brand. A user contacts customer service on average about 65 times a year, and due to bad customer service, 62 percent would leave their supplier. By making their customer service experience too easy, companies can avoid that destiny. Apps with fast contact buttons and digestible help center sites decrease client effort, favorably reflecting on your entire brand.
A mobile app is an excellent way to connect with your company 24/7 for clients. Whether it’s for general company data or asking you a company query. In addition, great customer service can come as a surprise. Mobile apps, for instance, give you the capacity to offer in-app sales and updates on activities that clients really enjoy.
Does Retaining Customers Matter in the App Industry?
Absolutely. If you’re creating a mobile app, you might wonder how useful the retention of users is to the bottom line. After all, it’s simpler to delete an app than to install one— it takes little or no effort to divide methods. But as it turns out, if the correct characteristics and incentives are in place, app consumers are much more likely to return to your company. It’s a winner-takes-all market in some respects, and with your contest, you have to remain ahead of the curve.
You provide your clients with a mobile app to share their experiences with their colleagues and Facebook. You can also no longer disregard the facts about how mobile apps can help a small business develop.
The more you retain, the wider your prospective customer base will grow.