It costs five times more to acquire a new customer than to keep an existing one.
It’s why customer retention should be at the top of every business owner’s to-do list.
The best way to maintain customer engagement is by offering incentives that reward them for their loyalty.
What is an engaged customer?
An engaged customer is someone who interacts with your brand on a regular basis.
They may be active on social media, leave positive reviews, or simply make purchases often.
Whatever the case, they’re invested in your company and want to see it succeed.
Top of the funnel running dry?
Why are engaged customers important?
Word-of-mouth
Engaged customers are important because they help promote your business and bring in new customers.
If they’re happy with your product or service, they will likely tell their friends, colleagues and family about it. This is the best kind of marketing you could ask for, and it’s completely free!
Lower churn rate
Engaged customers are also less likely to stop doing business with you, meaning they’re more valuable to your company in the long run.
Valuable feedback
Finally, engaged customers can provide valuable feedback that can help you improve your business. They’re not afraid to tell you what they like and don’t like, and they may have suggestions for how you can make improvements.
This feedback is invaluable because it comes from people already invested in your company. You can be sure that they’re giving you honest feedback that can help you make your business even better. This is why it’s important to keep track of customer communications using any of your preferred types of CRM tools available.
So, how do you keep your customers engaged?
Incentives for engaged customers
Customer incentives come in all shapes and sizes, but they all have one goal in common: to make your customers feel appreciated.
When customers feel valued, they’re more likely to stick around, so offering incentives is a no-brainer for businesses of all sizes.
Not sure where to start? Here are a few ideas to get you started.
Discounts or gift cards
Everyone loves getting a good deal, so offer your loyal customers discounts or gift cards they can use on future purchases. This will not only make them feel appreciated, but it will also encourage them to keep doing business with you.
Pro-tip: Increase conversion with the right copywriting. Which are you more likely to click on:
“Claim your 10% discount now!”
“Get 10% off your next purchase!”
If you choose the first one, you’re not alone. People are more likely to take action once they’ve felt a sense of ownership.
For example, someone who goes for a test drive is more likely to buy a car than someone who just looks at one in the showroom.
Giveaways
Organise a giveaway or contest on your social media account. This reinforces positive customer behaviour. With the way social media algorithm works, your social accounts will only gain even more exposure due to your existing customers’ enthusiastic participation!
Freebies
Who doesn’t love getting something for free?
Consider throwing in something extra for your loyal customers. It doesn’t have to be anything major – even a free e-book or white paper can show your appreciation and build customer loyalty.
Exclusive access
Make your loyal customers feel like VIPs by giving them exclusive access to new products, sales, or online content before anyone else.
The additional benefits will make them feel appreciated and valued, and it will also encourage them to keep doing business with you.
Conclusion
Incentives are a great way to keep your customers engaged with your brand. By offering rewards for things like referrals, taking surveys, or sharing on social media, you can encourage your customers to continue doing business with you and help promote your brand simultaneously.
