The direct-to-consumer space is larger than ever and will only continue to expand; providing consumers with many options of where to take their business. Between the increase in competition and constantly rising customer expectations, DTC brands are shifting their focus from customer acquisition to customer retention.
With so many brands vying for consumers' attention, it's not enough to provide great products and prices. To remain a top contender in today's marketplace and keep customers coming back for more, brands must deliver consistently exceptional experiences.
Industry experts from Yotpo, Thankful (shout out to our VP of Partnerships, James Hotson!), Recharge, and Shipbob shared their recommendations for optimizing customer retention at the DTCx Virtual Summit Tech Panel. Here are some of the main takeaways.
Key Practices for Optimizing Retention:
1. Meet Customers Where They Are
Your customers want to choose how, where, and when they get in touch with your service team. Instead of making customers come to you, figure out where they are - or where they want to be - then meet them there. If they know they can count on you anytime and anywhere, they are more likely to continue to do business with you.
2. Provide Omnichannel Support
The only way to truly meet customers where they are is by providing omnichannel support. Offering service across all channels ensures that each customer can reach you in the way that works best for them. And when they have the freedom of choice, customers will feel more in control of their experience and satisfied with the end results.
3. Make Engagements Easy
A complicated experience is bound to frustrate customers and negatively impact their loyalty to your brand. Keep customers happy by providing a frictionless experience from start to finish. Whether customers are contacting you for support or managing their orders or subscriptions on their own, the process should be intuitive and easy to navigate.
4. Foster 1:1 Relationships
Customers want to be seen and treated as individuals and not just another number. Brands can create personalized experiences for customers in a variety of ways such as exclusive offers and tailored service interactions. Not only does it make them feel cared for, but it helps to boost LTV.