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How bonuses and incentives help customer retention 

365 Retail

What is customer retention? Customer retention refers to a company’s capacity to convert purchasers into repeat customers, preventing them from purchasing from a rival. Why is customer retention crucial for businesses?

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Five KPIs That Tell you Everything About Your Returns Customer Experience

Retail TouchPoints

The customer journey starts off linear, but it should end in a cycle of repurchasing. Getting the returns experience right is one of the most critical parts of that cycle — 95% of shoppers say that how returns are handled affects their decision of whether to purchase again. Return Rate and Negative Reviews.

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Where Online Shopping Rises, WhatsApp Follows

Retail TouchPoints

No one enjoys long waits when they have an urgent product issue to solve, and customer support executed through a combination of real support agents and AI chatbots streamlines the query process for both the customer and the contact center.

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Tips On How To Build Customer Loyalty And Improve Retention

365 Retail

Additionally, spending time getting to know the company allows the business to tailor its services to the customer. A quality that many customers would greatly appreciate. If a company knows a customer well, this can entice customers to return to the business. Engage On Social Media. The Bottom Line.

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The Value of Repeat Customers

Storis

Understanding the advantages of earning repeat customers is the foundation to grow your company. Before diving into improving your company’s customer retention rate, it is important to understand how it will positively affect your company. Reducing customer defection rate by 5% can increase profitability by 25-125%.

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How to Use Influencer Marketing to Increase Customer Loyalty

Independent Retailer

Word-of-mouth marketing, such as these campaigns, has a 37 percent higher customer retention rate than traditional advertising. The main goal of this tactic is to gain exposure and get new customers. Word-of-mouth marketing, such as these campaigns, has a 37 percent higher customer retention rate than traditional advertising.

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Why Measuring and Optimizing Queues Are Crucial in Fast Food Restaurants?

V Count

This is not just about the immediate satisfaction they get from the service; this satisfaction often translates into return visits as they are likely to choose the same service again. Furthermore, a satisfied customer is the best advertising tool through positive word-of-mouth that a business can have.