The key to being a top-of-mind brand and achieving consumer retention is to have a loyal consumer base, so we’re going to focus on that.
Preserving consumers is less costly than acquiring newer ones. Satisfied and happy consumers are more likely to be returning customers and can even promote your brand. Stopping consumers from switching brands isn't easy nor simple, especially when your competitors in the market are waiting for the perfect opportunity to snatch them.
The top brands in the world are known to develop various consumer retention techniques to delight them, increase their satisfaction and keep them pleased every time they consume their products
Consumers nowadays have numerous brands to select from in each category, therefore returning to your brand indicates that they are devoted to you. Reward such loyal consumers for each purchase they make on a regular basis.
Big businesses have used tempting loyalty programs with unique discounts, the ability for their consumers to create accounts to collect loyalty points, limited-edition items, and a variety of other special offerings. Loyalty programs will benefit your brand in developing long-term relationships with consumers by providing them with value for money.
It's also critical for brands to understand that a lot of consumers research products online before buying them offline and if they find different pricing or negative reviews, they're unlikely to make the purchase if they're new consumers, and you'll lose their loyalty if they’re returning consumers. As a result, brands should concentrate on delivering a consistent experience across all marketing and sales channels, including retail stores where their products are sold.
You'll likely notice higher revenues and profitability if you provide a consistent customer service experience and after-sale services. This is because happy consumers will trust your brand more, which means more probabilities of repeat purchases.
And in order to implement the above, brands should focus on gathering as much data as they possibly can, such as their availability across retail spaces by constantly monitoring shelves and inventories and conducting retail audits, gathering their consumers’ contact information as well as personal information. Brands can obtain such data by tempting their consumers to visit them online and create accounts, then reward those consumers for creating accounts on your platform with special discounts, free loyalty point, vouchers, free gifts and so on.