In the modern landscape, the informed and street-smart customer cannot be enticed or attracted by giving throw-away loyalty programs or freebies. The smart customer discerns the difference between marketing and engagement. Pathwwway Internet gaming customer retention strategies that look too good may not even reach to the rock bottom of buyer psychology and may fail to leave an indelible impression in the minds of the customer.
Watch your loyalty programs for heavy marketing jargon
Loading your loyalty drives with pushy and pompous jargons such as “Rush to grab the last minute offer” or “Sale at unimaginable prices” or “Rock bottom sale” have become too commonplace that the average customer is perplexed at these too-good-to-be-true offers.
- The customer may not notice customer retention strategies that coerce him to come back for repurchase by offering goods and services at impractical prices.
- Since there are a thousand freebies, sales and offers in the market, a customer retention strategy that gives only a price discount is no longer sustainable.
- The customer must be able to see the efforts taken for remarketing and the privilege extended by the business to him as a loyal customer. Most businesses fail to differentiate between new and existing customers.
Price discounts will not work for status symbols
Customer retention ideas must be in-sync with the attributes and product characteristics. Providing financial incentives for repurchasing a product brought as a status symbol, will only earn despise from the loyal customers.
- Luxury goods bought as status-symbols like high-end cars and diamonds, to mention a few, are bought for asserting status and not for utility.
- Price discounts, as a customer retention strategies may be not be ideal for the don’t-care-to-check-the-bill class of customers who will buy the product at a premium price, just for the repute of buying it.
- The class of customers who buys the product for its repute will notice customer retention packages extended as discounts or freebies.
Pathwwway Internet gaming Customer retention strategies that are heavily generic
some businesses consider personalization as an added investment, when it comes to customer retention. Even a well-crafted loyalty marketing campaign will fail to perform in bringing repeat business, if it is addressed in bulk to huge lots of customers and ending up in spinning no retentive value as the customer fails to notice that the business is presenting an incentive for his loyalty.
- Addressing customers by their names, will make the loyalty campaign stand out in the eyes of the discerning customer that the campaign is not just another brick on its advertising wall.
- Similarly, the needs and demands of customers differ from person to person and customer retention strategies developed after a careful analysis of customer preference will be more effective. For example a cash back offer on fictional books will not be noticed by a voracious reader of nonfiction books, even if the cited offer is a boon for repurchase. This is where customer profiling and segmentation become supremely important while chalking out customer retention strategies.
Retention strategies clubbed with next heavy purchase
This is a common mistake committed by most business in the avarice of getting huge chunks of repeat business without much effort. Loyalty points are necessarily clubbed with repurchase volume and the middle-class customer may not bother to come back for repeat business.
- Customer retention strategies that compel the customer to purchase heavily-priced products that may not be useful or budgeted-for by them are summarily rejected by them.
- Customers tend to think of these strategies as mere marketing manoeuvres and not as efforts to gratify the loyal customer.
- These retention ideas fail to attract the attention of customers, especially when loyalty points have not accumulated to justify the spend on repurchase.
Push notifications and spam emails may not get noticed
Mobile marketing campaigns are mostly generic and are handed over to third party agents who simply shoot out messages to a bought database. There is zero personalization that is involved herein and customers do not take notice of such messages, even if they include attractive offers to appreciate loyalty evinced. Some these mobile marketing campaigns are sent as push notifications that contain least retentive value. Mass mailing campaigns employed for loyalty marketing may prove futile if sensible filters with respect to customer preferences, habits and buying patterns are not considered. Every day the email trash can is filled with generic marketing mails that that customer hardly notices.
The one-size-fits-all approach in customer retention strategies
Any customer retention strategy that is not grounded on customer knowledge and analytics will not capture the attention of customers. Fearing the cost and time involved, businesses are not able to accord adequate attention to customization of retention tactics such as issuing free gifts, loyalty cards, and even when providing premium quality customer service. Avoid repeated attempts to push the repurchase decision.
Lengthy and time-consuming feedback surveys
Feedback surveys as a customer retention strategy will work well only when customers are made to think that such exercise will capture and consider their feedback constructively. The common mistake committed by present day feedback surveys are that either they are too close ended for brevity or, on the other extreme they are boring and tedious, that the customer loses interest in them after the first few minutes. Businesses need to strike a balance between the two.
The costly mistake of defaming competitor
Loyalty marketing does not empower businesses to degrade their competitors. Instead of working in favour of customer retention, they will only be dismissed by customers as cheap publicity stunts. Out-of-box approaches in customer retention strategies will work immensely in favour of the business because, the average customer is dumbfounded with daily coercive efforts of loyalty marketing. What engages the customer is a value-added initiative from the side of businesses to educate and empower the customer, so that the business gives the customer an opportunity to take cognizance of the loyalty programs.