Part of an effective Customer Experience Management strategy is retaining your customers and keep them from going to your competition. It is stated that acquiring new customers is more costly than retaining a customer, to which businesses will then dedicate more time to promote to its existing consumer base.
Customer Retention strategies can be applied to most industries, but it shines further in Retail Industries where there are many major competing retail brands, each with their own set of Customer Loyalty & Rewards programs.
An effective Customer Retention strategy can easily be seen through the eyes of the consumer: If the offer is too great to resist, they’ll take it. On the other hand, consumers are wary of offers that are too good to be true, because the moment they felt that they are being fooled, they’ll stop patronizing the shop and go to another.
Some customers do take their time in canvassing which offer suits them the best, and it’s important to take note of their feedback if you happen to get in touch with them.
For this year’s Customer Experience Management Conference, we will be graced by Sherwin John Sario of Metro Retail Stores Group to discuss Customer Retention Strategies.
Prior to joining Metro Retail Stores Group, he has helped develop loyalty and rewards programs for various companies during his time at Avanza.
This is aside from the stellar roster of speakers that will make up the two days of this year’s event, which aims to gather Customer Experience professionals from all industries.
Join the 8th Customer Lovefest Conference this November 14-15 at Tower Club Makati. For more information, contact Ex-Link Events at (+63 2) 8633-0153 / 8633-0088, +63 920 924 2532 / +63 920 981 4376, firstname.lastname@example.org or facebook.com/customerlovefest.