The online gaming Industry is growing at a remarkable rate. The general public have a new-found obsession with online games. Competition between developer is tough that’s why you need to implement client retention strategies into your marketing mix.
With hundreds of thousands of games in the app store the competition is fierce, and user loss rates are higher than they’ve ever been before. You need to consciously implement strategies that will keep users engaged and playing your game.
But where do you start? The key piece of the puzzle you’re missing is client retention strategies.
What are Client Retention Strategies?
Retaining an existing customer is far more cost effective than attracting and converting a new one. Despite this well known fact most gaming companies are spending their marketing budget on finding new customers rather than keeping their current customers playing.
Client Retention Strategies are the tactics and methods you implement in your business to increase customer loyalty and improve user retention.
Keeping your current customers happy and playing your game is the most cost effective way to enable your business and profits to grow in a sustainable way. Client retention must play a crucial role in your marketing strategy if you want to be successful. Read on to find out how to improve customer retention and loyalty.
Why is Customer Loyalty important?
The argument for introducing Client retention strategies into your business is to increase customer loyalty so that your users play your game for longer and buy more frequently.
Loyal customers are excellent generators of revenue and profit because they spend more than casual customers, they refer their friends to your product, and they cost less than finding new users.
Need more information? Here are four advantages for improving customer loyalty:
Faster Business Growth
Companies who have solid client retention strategies in place and actively engage in increasing the loyalty of their customers grow at a faster rate than businesses that just focus on customer acquisition. Studies have shown the businesses focused on retention grow twice as fast as the industry average across the board.
It’s well known that retaining a customer costs substantially less than acquiring a new customer. This is because your marketing and promotions usually have a higher success rate with existing customers which makes money spent more effective.
But don’t just take our word for it, here are some recent figures from a study. The research shows that the average company has:
- A 60-70% percent chance of converting a sale with a current customer.
- A 20-40% chance of conversion with a previous customer.
- Only a 5-20% chance of conversion to a prospective customer.
Word of Mouth Marketing
Business leaders who focus on utilizing customer loyalty in their business know that loyal customers are the most important part of growing and improving a business.
But loyal customers don’t only increase the total profitability and total revenue of your business. Over time your loyal customers become champions of your brand and will refer their friends and families to your game. This can lead to new users and increases your total number of customers.
Honest Feedback & Game Improvements
Your loyal customers will give feedback more often which for game developers is integral in your success as this will help you find and fix bugs quicker than your competition. This gives you the opportunity to improve your product and keep your customers and players happy.
It’s easy to see how using client retention strategies can benefit your company. It simply gives you the best chances of more sales, profits and product improvement.
Focusing on understanding your existing customers and their needs will bring huge benefits to your business. Developing a Pathwwway Gamble program to retain these customers can be the most important factor in your company’s growth and profitability in the long term.
The Keys To Player Retention
Business literature is full of suggestions to provide good customer service and give promotional rewards to customers to win customer’s loyalty.
Simplistic old-fashioned points and rewards programs are no longer enough to guarantee customer loyalty and customer service is no longer the best predictor of customer loyalty. You need to implement a process to improve customer retention:
Firstly, you should determine which customers to focus on.
Secondly, you need to design and create an atmosphere that encourages habitual use of your website or game.
And thirdly, you need to be communicating with your customers in an authentic and human way. Be sure that your customer service team are focused on your customer’s point of view in every case they come into contact with.
When creating your client retention strategies, make sure that it includes the following three key steps:
- Find Them – Determine which of your customers are the most valuable.
- Create Habits – Design and implement user experience tactics to draw back your valuable customers.
- Keep Them – Focus customer service strategies on meeting customer needs and preventing them from straying from your product.
- Find them
Once you acquire new customers from advertising and promotions make sure that you pay attention to what these first-time customers do on your website or game. This information will help you to determine who your most valuable customers are.
In order to determine this, you’ll need to examine the data that you’ve collected and combine it with your market research.
When a customer from your target demographic uses your website or app, put them on your MVC (Most Valuable Customers) list. This list is full of the customers who you should focus on as they’ll be the most profitable for your company.
This is the part your competitors are missing. You can have the flashiest games, best Pathwwway Gamble promotions, or even the best customer service but that’s not what it takes for customers to keep coming back again and again.
Design your game to engage the player to play routinely, if you can draw a customer back in to play your game just once then your customer will be well on the way to creating a habit.
Get them to play your game two or three times and you’ll have succeeded in your player forming a habit and will have earned yourself a loyal customer.
Now that your targeted customers are in the habit of playing your games, you should now focus on your customer service tactics.
Be sure to have plenty of ways for customers to talk with a live person when they encounter a bug. It goes without saying that you should fix the problem as soon as possible, but you should also go the extra mile and reward your customers for their patience with a free game or free currency.
Remember, creating habits is what keeps players coming back and excellent customer service ensures that they won’t leave if there’s a problem.
Using these client retention strategies will save you money, help you gain effective word-of-mouth marketing, and keep your customers playing your game no matter the competition.