Every business’s marketing team needs to work not only to attract new customers but also to keep old ones. This is why it’s also important to improve customer retention with social media.
Customer retention is a business’s ability to keep regular customers for a period of time. It can be a week, a month, six months or a year. The ratio shows how long the regular customers have been with the company.
Why is this important for business? This part of consumers is a more loyal audience for repeat sales and helps to increase profits and attract new customers through recommendations. A high customer loyalty ratio results in maintaining a high percentage of recurring customers.
Social Media is a good way to increase customer engagement and loyalty and to build brand awareness. On Social Media, you can showcase new products and share company work-life pictures, but also entertain and share valuable content.
Table of contents:
- Tips to improve customer retention with social media
- Benefits of retention marketing
- Where to start to improve customer retention with social media
Tips to improve customer retention with social media
Let’s see some social media features you can use to improve customer retention with social media.
Facebook and Instagram Live
Statistics show that watching a video takes half of the time compared to reading the text. This is why on average 82% of consumers prefer to watch videos rather than read long blog posts. As a result, Facebook’s latest feature – Facebook Live Video, has become a powerful tool for promoting and selling the brand to consumers.
There are different ways you can use Facebook Live to attract customers:
- Announcements: the tool can be used to announce events and release new products to the target audience.
- Communication with customers. The tool allows you to share valuable tips and answer all comments and questions. The benefit of Facebook Live functionality is that it enables you to interact with your followers.
Facebook Live is a new tool but has already received high user demand. Its main advantage is communicating with its subscribers through live video.
Instagram also provides the possibility to start Live video communications with your followers.
Instagram and Facebook Stories
Today Stories is a convenient and relevant format of content on Instagram. This is a powerful tool to increase your account’s scope, involvement, and recognition.
The short story duration and its automatic deletion encourage users to consume content faster before the information is lost. Instagram stories will in fact be available for only 24h, and this allows you to communicate with your audience on a daily basis. Statistics show that the more such material is published, the more impressions and engagement you can achieve.
Benefits of retention marketing
Have you ever wondered why many large businesses spend much time on retention programs? Here are some of the benefits of customer retention:
- Retention is much more cost-effective than attracting new customers.
- Existing customers bring more profit. Loyal customers buy 90% more often and spend 60% more for each purchase.
- Loyal customers leave more feedback and contact the company’s specialists.
- Recurring customers are more connected to the brand emotionally.
Where to start to improve customer retention with social media
It’s not enough to just show up, you’ll need to post relevant content if you want to improve your customer retention with social media. Here is where you can start to plan your social media presence.
- Listen to your customers. What is that they need from you? How can you help? What are they interested in? Make a list of the problems they encounter and of the topics they’re interested in and educate, help, entertain your audience with related content.
- Analyze your customer’s behavior. What is the product they purchase the most? Do they come back to make the same purchase, or a different one? This analysis will help you understand what products you need to showcase the most, and how frequently you can post about them. Use RFMcube’s automatic analysis to see this data.
- Plan ahead. Make sure whatever story, post, or Live you want to make, is planned ahead in order for your audience to know when to show up, or just to make sure you have some content variety on your feed.
Businesses often lose contact with existing customers in pursuit of new ones. We recommend using these customer retention tactics or others to keep in touch with your audience. Social media is one of the best places for this purpose.
If you want to encourage second purchases, track and analyze customer behaviour data, and use data to improve your customer retention, try RFMcube today.
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