How to improve customer retention through paid search
A lot of marketers and business owners think of advertising as a tool to attract the attention of new customers. But the great thing about paid search is that it’s also a powerful way to improve customer retention.
Once you go through all the trouble of winning over new business, it’s worth your while to put in the effort to keep them coming back.
Customer acquisition vs. customer retention
The most common pitfall for businesses around the world is that they think that if they have a great product or service, then customer retention will follow naturally.
And, while this might be the case in some instances, the harsh truth is that it’s only a short term strategy. An even harsher truth is that, sooner or later, your customers may just … leave!
Because if you stop trying, your customers start feeling that you no longer care about them.
So, what’s the outtake?
You need to keep on trying and earn customers’ loyalty, continuously.
Having an effective retention program gives you the ability to identify, track and sell more to the customers who are most likely to become your long-term sources of revenue.
Using advertising to retain your existing customers
Let’s see how you can use advertising to retain your existing customers so that you can increase ROI as well as lifetime value of customers.
- Launch strategy- Build brand awareness among existing customers
Launching new products can be a challenging job—each time you launch a product, you need to focus on many things like acquiring new customers, marketing your products, and many more.
If your existing customers haven’t visited your website for a while and they haven’t subscribed to your newsletter, they are not likely to be aware of your new launch.
A great first step is to reach out to your existing customers and tell them about your new product to help bring in more business.
- Provide seasonal offers
Depending on your business you may find traffic hikes in certain holiday periods. According to statista.com, retail e-commerce sales figures are exponentially growing each year in the US during the holiday shopping season.
So, holiday periods are one of the best ways to effectively implement your remarketing strategies.
- Entice your customers to return to your website with customized offers
Paying customers are bread and butter for your business. However, the reality is that not every user of your product is going to be a paying user.
Even if they became your customer, some of them might cancel their subscriptions or only make a single purchase. In such cases, you can entice customers to return to your website by providing exclusive discounts or coupons.
Such tactics are meant to encourage users to return to website. For example, a web hosting company might provide a 75% discount to a customer who is cancelling their hosting account.
Once you’ve done the hard work of winning over new business, you don’t want to have to start from square one again! Instead, focusing on customer retention can help you increase the overall lifetime value of each customer, and can help you generate revenue success for years to come.
Using specific paid search tactics can boost customer retention and ensure the long-term health of your business.