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Client retention is one of the main goals for almost any business. The digital sphere of brand development allows being constantly in the client’s sight. It can seem easy to grow customers loyalty. However, the Internet makes the range of choice endless for the users. So, companies have to try even harder to remain the only ones for their clients.
Glorium Technologies decided to study mobile applications as a way for companies to make their users loyal.
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The key to business success is retention, not acquisition. While initial sales are impressive, to grow, brands need users to continue to buy their products.
It’s been reported that to acquire new customers is 6-7 times more expensive than to work with the existing ones. 55% of clients prefer paying more but getting a better customer experience. A 10% increase in customer retention level brings to a 30% rise in the company value. These are the reasons for us to take customer retention seriously.
Adobe Digital Marketing Report states that mobile app users are more loyal to a brand than users who access a brand through a mobile site. The reason is evident: mobile app users are not accidental ones. As a result, conversion rates are to be much higher. With an app, users tend to spend more time online, 3-4 times longer.
Surprisingly, the company’s original instinct is often to get more users. it costs more to gain a new customer than it does to keep an existing customer. But in addition to that, I’ve found existing customers tend to spend more, which is why increasing customer retention efforts can ultimately increase your profits.
Push notifications help companies communicate with their client on a regular basis, keeping them updated on all the interesting recent offerings, events, or news. GPS progress allows businesses to reach clients in favorable locations (where it has a store or office).
Applications also bring more insights into clients and their in-app behavior. As a result, promotions and special offers can be more successful and bring expected results. Customization is everything in the modern market. Applications with their push notifications make it possible to deliver content specific to the client’s current needs.
So, here are several ways your app can bring customer retention rates to the next level:
Incentives and rewards for the app users for certain accomplishments and activities.
Deliver customized messages for your clients with the help of in-app user activity insights.
While technology has empowered customers to make informed choices, it has also given businesses different benefits such as monitoring and rewarding customers who stick with you.
The majority of customers today prefer to shop through their mobiles, be it fitness apparel or planning a holiday. This opens up a great opportunity for businesses to retain their customers by providing them with an excellent app that can enrich their shopping experience.
This also enables the brand to stay connected to the customer once he has made the purchase, which acts as a foundation for building brand loyalty and a positive image amongst customers. So basically your well-designed mobile app is capable of satisfying, retaining, and making your customers loyal if it adheres to certain criteria.
Mobile apps sole purpose is to make the customers’ shopping experience easy, seamless, and rich.
If your mobile is catering to these needs, then the app becomes the essential tool to provide customer satisfaction and ultimately help businesses derive customer retention.
This process can be made valuable by giving a special ode to your loyal customers, granting them exclusive access to new arrivals, discounts on their future purchases, or even redeemable coupons.
Some businesses make the grave mistake of taking existing customers lightly while directing all their efforts towards attracting new ones. This can play havoc with your business because a business only grows when it first retains its existing customer base and attracts new customers on top of it.
To sum up, customer retention is important for your company. To work with existing clients is cheaper than acquiring new ones, loyal customers usually bring more profit, and finally returning clients increase the company value.
Of course, it is up to decide in what way to develop your business, but we do ask you to pay more attention to the loyalty of your clients. The mobile application seems to us a tremendous step in this direction.
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