3 Strategies to Maintain Customer Retention in the New Year
“New year, new you” is a phrase used every year that means beginning again, new and improved. But, January 1 is not just an opportunity for consumers to set new goals; it can also be a turning point for businesses. After an indulgent holiday season of eating & drinking, one of the most popular New Year’s resolutions is to “get in shape.” Although fitness organizations may benefit from loyal customers, maintaining customer retention throughout the new year can be challenging.
“A 5% increase in customer retention can boost profits by 25% to 95%.” annexcloud.com
Here are three customer retention strategies to try in 2022:
1. Create a Customer Loyalty Program
Implement a customer loyalty program to reward people for supporting your business. Consumers that feel valued are more likely to keep coming back. To begin a loyalty program, you can:
- Start a Reward Points Program – Your point system should be fair and easy to use, and customers should gain some type of benefit from it. A common practice is to set up a system where consumers get back a fraction of every dollar spent as a store credit. The goal is to make redeeming points rewarding to encourage repeat visits.
- Celebrate Birthdays & Anniversaries – Commemorate special events for new and existing customers. Celebrate clients on their birthdays and send a special gift (ex. gift card/product sample). You can also wish past clients a happy first, second, third (etc.) year anniversary along with a personalized message.
“60% of loyal customers will talk about their favorite brand with their friends and family.” annexcloud.com
2. Start a New Year Sale
Just as the holiday sale frenzy ends, begin another sale in the new year. Create new discounts and offer more rewards; customers enjoy discounts no matter what time of year it is. Use this as an opportunity to attract new clients and keep existing ones happy.
- Offer Memberships – Invest in digital software that provides membership and package bundles for your clients. Memberships incentivize customers by offering discounts towards products & services for joining. Here are a few tips to begin.
- Refer a Friend – Reward existing customers for being your business’s brand ambassador. Give a special gift or credit to clients that spread the word or bring a friend to support your business. Try a 2-for-1 discount for starters.
“75% of consumers say they favor companies that offer rewards.” annexcloud.com
3. Produce an Email Marketing/Social Media Challenge
The beginning of the year is a great opportunity to start a new marketing/social media campaign. It’s also a good time to remarket to past clients. Email campaigns are an effective way to connect and re-engage with customers.
- Create a “Thank You” campaign – Express gratitude to customers by launching a thank-you campaign. It’s a nice way to reach and engage customers at any level in their journey.
- Start a Social Media Challenge – Create a social media buzz by encouraging customers to start an online challenge. Fitness leaders can implement a selfie challenge, or hair stylists can start a color competition and post results. The point is to get your clients to share your business/products online in order to boost your brand and gain more customers.
As the dust settles from end-of-the-year excitement, and the new year opens doors to fresh opportunities, there is no better time to reconnect with customers and keep them coming back for more. Applying some of the above strategies should help to keep your business thriving, and consumers inspired in the new year.
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Vagaro is a cloud-based scheduling software commonly used by beauty, fitness, and wellness businesses to manage booking, credit card payments and processing, marketing, payroll, inventory management, reporting, and much more.