Finding new customers will always be a top priority for any business. When customers purchase an item, it marks the start of a new relationship.

The real value is in retaining and building relationships with customers.

We, at ReBiz, specialize in customer retention solutions like Retento, which constantly strive to understand customers needs. Here, we share advice on how businesses can foster good customer relations.

First, let’s understand why customers leave.

According to the Database Marketing Institute, customers leave when:

• They die or are no longer buying in your category.
• They’re unhappy with the price.
• They’re unhappy with the product.
• They’re annoyed with the way they are treated.

Although most companies focus on the second reason, research shows that reason number 4 is most common.

Here are five unique ways to retain customers:

1. Focus on your employees

Passionate employees provide rich customer experience.

Where do you begin?

Establish a truly authentic employee brand, which directly leads to profits.

“Organizations that are the best in engaging their employees achieve earnings-per-share growth that is more than four times that of their competitors.” (Gallup Report)

High spirited workers provide a frictionless and memorable experience for customers.

On the other hand, disengaged employees cost the US economy about $450 billion annually. There’s a reason companies are investing in their closest source to the customers; their employees.

Give your employees a reason to care for the company’s values, they’re your biggest asset.

This is how you create brand ambassadors that go beyond the 9 to 5 duty. And you’ll see a significant increase in customer retention.

2. Evaluate Why Customers are Leaving

Identify the reason why customers leave and then rectify it. It sounds simple but it’s a lot of work.

The main reason customers leave is when they don’t feel valued or feel that the business doesn’t care about them.

How can you care for customers online?

Treat them how you’d treat them in person. Although ebusiness is booming, humanness should not subside from it.

Harness the power of social media. Have a patient and attentive ear, ask for their feedback.

Make a habit of reaching out to customers, ask what they like and don’t like. Don’t overdo it though.

3. Create Customer Loyalty

According to the Harvard Business Review, it costs 5-25x more to acquire new customers than to sell to existing ones.

Companies retain customers through brand loyalty.

What is brand loyalty?

Brand loyalty = Customers buying from a company time and again

How do you create it?

Through positive customer experience, customer satisfaction and the value your product creates for them.

Fast and seamless services create brand value and loyalty while friction destroys it.

Even when customers are on the verge of buying, a frustrating checkout process can throw them off. And they leave in a heartbeat.

So, remove hurdles from the checkout process. Shoppers will be more inclined to return and buy from you.

4. Categorize Your Customers

There is no secret behind customer retention. Look out for signs that your customers are getting bored with your services.

And these are not that difficult to spot.

Then, implement steps to prevent customers from leaving. Define your VIP customers and keep track of how they interact with your services.

When they haven’t purchased anything from you in six months, they might be reconsidering your services or maybe going to your competitors.

It’s not that difficult to track such activity, you can use a good CRM software and list your VIP customers.

5. Treat Your Most Profitable Customers like Royalty

Using your company’s CRM, identify the most profitable customers and their needs. Be generous in treating them well.

Special offers and discounts should go to loyal customers on a priority basis.

Consider this as a profitable investment. Treat them like royalty and they’ll be more likely to buy when you cross-sell them.

Make them feel special and they will stay loyal to your brand.

The best way to retain buyers is to constantly look for new ways to create customer partnerships.

Figure out ways to involve them in the design and delivery of your product or service. Ask for feedback, and take their opinions seriously.

Customers are precious but that doesn’t mean that companies should endlessly chase and serve people that bring in little to no business.

Get the right customers.

Acquire customers you want to keep and can provide value to. It’ll be much easier to retain them.