Customer Retention Strategies That Work: 3 Real World Examples

We’ve interviewed three different business owners about their customer retention strategies and the results they’ve seen through their efforts. See below for real world examples of effective customer retention strategies:

From: Razor Suleman

Company: I Love Rewards

Website: https://www.iloverewards.com

Blog: https://www.iloverewards.com/blog

Twitter Handle: @iloverewards

Customer Retention Strategy: The Love Guarantee is how we help keep customers satisfied and loyal with the services they receive from I Love Rewards. It ensures that members love the interaction with our company and our highly motivated team meets their needs. It also ensures that they love the recognition program we’ve provided in terms of user-friendliness, selection and variety of rewards catalog, and ease of redemption. I Love Rewards is an online employee recognition solution that helps companies recognize outstanding performance and empowers employees to choose their own rewards through a point-based currency based on recognition they receive.

The Love Guarantee is open ended and customized to individual situations. My promise to customers is, “We’ll stop at nothing to make sure your program members love everything about their experience!” And we practice what we preach with The Love Guarantee. Our customer-centric strategies have led to a 108% year-over-year growth and 99% customer retention rate.

Apart from the guarantee, we host an Annual Customer Experience (ACE) two-day user conference to launch new software releases, industry-leading speakers, educating breakout sessions addressing specific employee engagement pains, and nightly entertainment. Our customer-centric approach doesn’t end with our product. It extends into a network of ongoing support, fulfilling the promises we make, and keeping customers at the forefront of the employee experience industry.

About I Love Rewards: I Love Rewards is an employee recognition solution that helps companies recognize brilliant performance and empowers employees to choose their own rewards. Unlike traditional service award programs, I Love Rewards creates authentic moments of recognition that resonate with workers of every generation.

From: Jennifer A. Chiongbian

Company: Rutenberg Realty NYC

Website: www.buyandsellmanhattan.com

Twitter Handle: @jacbroker

Customer Retention Strategy: I make sure to send my clients birthday cards and holiday cards, along with a $10 Starbucks gift certificate. When clients send me a referral and I close on the referral, I give the referring client an AMEX gift card. I also send clients a personalized Zagat for the holidays.

Or sometimes, when I am traveling and I see a little trinket that reminds me of a particular client, I’ll pick it up for him or her and gift it when I return. Not only does this show thoughtfulness, but it also shows the client how special you think he or she is! And in turn, the client is our staunch advocate.

I realized, the more you give to your clients or make them feel special, the more they give back!

About Jennifer Chiongbian: Jennifer has been in this business since 2003, and is currently an Associate Broker with humble beginnings out of Las Vegas, NV. It all began with her pastry career being cut short, after graduating from the Culinary Institute of America in Hyde Park, NY. She endured two hand surgeries, forcing her to find an alternative career. “Now I no longer create that perfect dessert for customers that makes them smile, but help them find that perfect home that still manages that same smile. After all, service is in my blood after working in it for close to 20 years.”

From: Linda Marie Smith

Company: Mobijabber.com

Website: www.mobijabber.com

Twitter handle: @WiseDiamond

Customer Retention Strategy: Mobijabber advises small-to mid-sized businesses on promoting their companies through mobile text advertising. I set up mobile text campaigns that deal with increasing customer retention and appreciation. Here are some of the strategies I use and advise to my clients:

1. Send a thank-you text after each customer visits with additional information about other products that the customer might be interested in.

2. Create a mobile text campaign that notifies customers of special offers and discounts for repeat clients.

3. Set up a mobile text campaign to existing customers with a call to action, which gives a percentage discount or buy-one-get-one-free offer if they tell a friend(s) about the product or service. This is extremely popular because it serves two purposes: 1) you are giving some of a benefit to your existing customer as a thank-you, 2) your existing customer is referring your business to potential customers—this can go viral very quickly! Post cards and mail have become increasingly expensive, as well as slow. Setting up a mobile text campaign focusing on customer appreciation helps the company to reduce costs without sacrificing follow-up.

About Mobijabber.com: Mobijabber.com is a mobile text advertising service company that offers small- to mid-sized businesses a platform for promoting their products and services through mobile sms/text advertising campaigns. Mobijabber.com was established in 2008 by Linda Marie Smith, who has a background in banking, finance, and corporate travel.

What customer retention strategies do you use?