Shane Hurley discusses the three most effective ways to retain consumers and to decrease turnover rate.

1. 3 Tips and Tricks to
Retain Customers

2. Customer loyalty. It’s becoming an
increasingly archaic concept with the
advent of new and progressive technology.
Our world is becoming smaller, and with
it advertising agencies are becoming
bigger, boasting greater access than ever to
the general market. With this immense
increase in available information, ad
agencies are able to better figure out what
consumers want, or think they want, and
they thus act accordingly in order to swipe
customers from the competition.

3. THAT
SAID,there are those out
there who are
admirably combatting
such declining rates of
customer loyalty
fairly effectively. How
do they do it? In the
following slides are
three unconventional
methods successful
companies are using
to retain their
customers:

4. Oregon Wildlife Park is home to hundreds
of diverse species of wild animals. The
park is open to the public all year round.
SET THE RIGHT EXPECTATIONS
During sales, it can be very tempting (considering the financial incentive) for the company
to tell a consumer only what they want to hear. However, although this may work fairly
well in bringing on new customers, it is not an effective way to retain them. Aside from the
obvious moral contradiction of not being entirely honest, misleading customers is bound
to cultivate a relationship of not just distrust, but disappointment. Businesses and services
are not perfect and should not be presented as such. To do so only strings along a
customer until they run out of patience. However, if accurate expectations are set while
clients/customers are being brought on, then they will be more open to any potential
discrepancies or slight obstacles down the line.

5. Build Relationships that Matter
Although you might think that
having a successful product or
service should result in more
churn, that is wrong. In fact,
what happens all-too-often is
that a successful product or
service actually has a higher
customer turnover rate,
essentially indicating that
customers were leaving because
they no longer needed help.
Well, the way around this is to build
client relationships that truly
matter, that extend beyond the
confines of detached emails and
office cubicles. By personalizing
your professional relationship (to an
extent), you will be humanizing your
service and thus will be more
valuable to the customer in
question, because no not only are
you providing an effective
capitalistic value, you are providing
personal and emotional value as
well.

6. U N D E R S T A N D I N T E G R A L
M O M E N T S I N T H E C U S T O M E R
L I F E T I M E .
F I G U R E O U T W H E N A N D W H E R E C U S T O M E R S T E N D T O D R O P O F F
F R O M Y O U R P R O D U C T O R S E R V I C E . B Y U N D E R S T A N D I N G W H E N
C O N S U M E R S A R E M O S T S U S C E P T I B L E , Y O U W I L L B E B E T T E R A B L E
T O I N F L U E N C E T H E I R D E C I S I O N A T T H E T I M E . I N V E S T I N T H E S E
P I V O T A L M O M E N T S , A N D D E L I V E R A G R E A T C U S T O M E R
E X P E R I E N C E A T T H O S E E X A C T T I M E S . B Y F O L L O W I N G T H R O U G H
A T T H E S E M O M E N T S O F V U L N E R A B I L I T Y , Y O U R S E R V I C E W I L L
P R E S E N T I T S E L F A S V A L U A B L E R I G H T W H E N C O N S U M E R S M A Y
S T A R T T O F E E L O T H E R W I S E . A N T I C I P A T E T H E I R O N C O M I N G
N E G A T I V E P E R C E P T I O N A N D B U I L D O U T A R E L A T I O N S H I P T H A T
W I L L M A K E I T M O R E D I F F I C U L T T O Q U I T .

7. In our day and age of Millennial job
hopping, decreased attention spans, and
increased ADHD, it only makes sense
that customer loyalty is declining. Yet,
that does not mean we need to embrace
the failure as failure. We can embrace
the failure as an opportunity, learn from
it, and reverse the trend. Good luck!