Customer Retention Strategies from Your Favourite Brands

You may have known this already, but if you didn’t know, retaining your current customers will help you grow!

Studies have shown that retaining current customers results in a greater ROI and costs 5-25 times less than acquiring new customers.  So, if this isn’t part of your brand strategy, you should consider adding it to your strategy.

But how does one build the best customer retention strategy? Do you just throw in all strategies available and hope your customers will hook into one of them?

In this blog post, we’ve put together customer retention strategies from some of the biggest brands worldwide.  Learn from these strategies and see which one would make your customers happy.

Starbucks

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Let the customer decide.

Starbucks has always been all about the customer. When they first started, they used different scents and smells to attract the customer and to keep them coming back. Today, they still retain their customers, but with a new strategy:  Empowering with convenience and choice.

Customers can submit their ideas directly to the company, and nine times out of 10, the company implements these ideas. Their latest innovation is the mobile app that allows customers to order and pay for coffee before they get to the shop.

Here’s what one of their loyal customers said: “I’m a full-time student at the University of New Mexico and work part-time at a golf course. I’m always in a hurry wherever I’m going. Mobile ordering seems as if it were designed for people like me. I can set up my order in advance and leave it at the confirmation screen until I’m within range of my store. One of my favorite aspects of Starbucks Mobile Order & Pay would have to be the high-quality pictures on the mobile menu.

After long and stressful days at school, I may want a Frappuccino on the way home. So I set up my order on the way to my car, hit the confirm button and then walk in into my usual store to find it is fresh off the blender. No line, no waiting, pure efficiency.”

What can you learn from this?

The biggest takeaway is to put your customer’s needs first. Don’t assume that you know what they want, but rather ask them to tell you how they would like to be serviced.

Makro

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One stop shop, affordable prices and rewards.

If you’re a South African resident, you may have seen this store or even shopped there. Makro retains their customers in three ways: You can find everything you need at a good price and earn rewards while you’re at it.

Customers love this store because they can go in there and find everything they will need for the month. Also, the more they shop, the more they earn as the reward system helps shoppers purchase additional items from any Makro store nationwide.

What can you learn from this?

Reward systems work to retain customers. Whether the reward is point-based or monetary, customers who feel like they get something out of supporting you will always keep coming back.

Apple

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Driving growth through innovation, consistency and attractiveness.

We all know that Apple devices are not the most affordable, yet day in and day out people rush to purchase them. In fact, 21% of iOS users say they’ll never leave Apple’s ecosystem. Why is this?

Apple has consistently delivered high-quality products that users want to have. Although they retain the same architecture with their products, the company offers their consumers various ways to enjoy these products.

Users can use Apple products almost anywhere, which makes it easy for customers to remain loyal to the brand. Plus, the aesthetic design is appealing to most.

What can you learn from this?

Consistency and innovation are keys to retaining customers. When creating a product, make sure it’s the best that you can produce. Also, try to make something unique.

Coca-Cola

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Use positive experiences to elicit action.

Here’s a video that shows how the company uses positive experiences as a brand strategy. The story features a competition between two siblings who want to offer the household “Pool Boy” a Coca-Cola that will quench his thirst.  To their surprise, someone else may just get there first.

https://www.youtube.com/watch?v=wWBQP-bxfX0

Although Coca-Cola may only be a drink, the company has done a good job in making it more about the experience than about the drink.

What can you learn from this?

Aim to elicit positive experiences with your brand. Pick one positive emotion you would like your customers to associate with your brand and then work hard to elicit that emotion with every interaction. Your product lasts only a moment, but positive experiences last for a lifetime.