If you are running a fashion brand, it would be a waste to preach to you about the high competition in this sector. It’s not a hidden fact that you will find fashion retailers at every other store, which leads to lower the authenticity of clothes and style in the market.
In a sector where competition is high, it gets difficult for retailers to attract customers in the first place. Even if they succeed in acquiring one or two customers per se, retention of those customers is the bigger hurdle.
What does it mean by customer retention?
Customer retention is the metric used to measure customer loyalty by measuring how often the previous customer visits and do they visit again or not. One can acquire customers, but retaining and making them visit again is an art.
It requires creativity and authenticity of the products to retain customers and earn their loyalty towards your product and brand. Keeping customers coming back to your store will multiply your Return on Investment rate and gauge the overall success of your company.
Digitalisation for fashion businesses
Digitalisation is moving at a fast pace in our nation, and it has proved to benefit companies. Gone are the days of brick-and-mortar, and having an online footprint in the market is the new normal.
Several fashion brands don’t even have a physical outlet and are running virtually. For such brands, it becomes tough to hold a place in the market to make the customer believe in them. The question here is, “what do such brands do to retain customers”? The answer is DIGITAL MARKETING.
Yes, it has made things easier for brands who have a virtual presence to secure a safe space in the market and boost success.
Digital Marketing is the process of promoting the brand and earning potential customers online. Now, the pertinent question would seem to be, “how can I improve customer retention through digital marketing?”
Let’s shed some light on it and see the strategies to retain your customers.
Effective Strategies Of Customer Retention With Digital Marketing
1. Influencer marketing
Influencer marketing strategy is a way of promoting your brand through social media influencers across various platforms. These influencers have a more loyal fan base than many big celebrities because they are being followed by teenagers and young kids.
Brands team up with influencers, and they, in return, upload their products and services on their feed which leads to an increase in the awareness of the brand. The influencer reviews their product and makes it look authentic, leading to generating income for the brand, and in return, the influencer gets paid.
Given the fact that social media influencers have a loyal fan base, their followers will definitely try the products reviewed by them and retain the brand.
2. Build your profile on social media
If you’re a brand and don’t have a social media account for it, it’s time to get it done. In today’s times, it’s as crucial for brands to have a profile on social media as a pen to a writer.
Having a social media account on multiple platforms not only helps to attract and gain customers but also allows the owner to post content on various platforms. This brings increased awareness about their products and services in the market among the audience and customers.
If you have a social media account gives your brand credibility and assurance among customers to grieve, complain, and review your product in DMs or comments. This makes the customer communicate with your brand, leading to providing a sense of assurance within him.
3. Sponsored posts
Have you ever landed on a product while scrolling Instagram that has a detailed description that says “shop now” at the bottom? You must have one if you spend hours on Instagram. Well, that’s exactly what a sponsored post is.
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Sponsored posts catch the eyes of people through the details and descriptions they mention of the product in the poster and caption. While other posts struggle hard to make it to people’s feed, these posts find the way to your feed in no time, and the cherry on the cake is the viewer gets an in-depth understanding of what the brand and its product has to offer. Thus, sponsored posts leave no room for confusion and attract customers at first glance.
4. Customer loyalty programs
It was my first time purchasing a specific e-commerce app, and guess what, at the time of payment, I got a 20% discount! Ever happened with you too? You may have! This is called a loyalty program. Many e-commerce brands have adopted this method to gain customer interest to make them visit again and again.
Another example of a customer loyalty program would be: You often make a purchase from an e-commerce website, and every time you shop, you are rewarded with some ‘points.’ These points are nothing but coupons that can be used to avail discounts at your next purchase. Companies come up with different such schemes and deals of loyalty programs to retain customers and keep their interests intact.
5. Build a customer feedback system
Has any delivery executive ever asked you to rate him for the food onboarding process? Yes, it must have happened to you. You open the application and rate it according to your experience. This allows the company to have data on how their customer felt after availing of their service.
Moreover, it also allows the customer to give constructive feedback and reviews about their product or services. It makes the customer feel secure and allows him to give his reviews to the company. To have a good customer retention rate, you need to collect and analyse the feedback given by the customer, share it with the organisation, and implement the modifications accordingly.
6. Communication through E-mail
E-mail marketing has been a winning streak for brands to be able to leave a print on people’s minds. It is nothing but a form of marketing that promotes your products and services through e-mails.
You must be receiving many e-mails from brands connoting the new outfit launch or the new makeup launch. It helps people to educate themselves about their products and provide in-depth knowledge about the products and services they have to offer to them.
Anything that you read captures your mind and remains in your memory, and that’s the theory behind e-mail marketing. Customers have the brand’s link in their e-mail, and they can go through these products and services anytime while scrolling through their phones. This helps the company to re-visit customers time and again and, therefore, increase the overall retention rate.
7. Use online videos
Research suggests that anything that you see remains in your mind for a longer period. When it comes to having a profile on social media for your brand, post content that engages the audience, and no media can engage the audience to such an extent as a video format can do.
Videos are captivating to the eyes and provide the viewers better understanding of the products and services. Companies use video formats to gain insights, exposure, and engagement from the audience. Therefore, it is easier to target the audience through this format rather than another medium. Data suggests that viewers are 28% more likely to pay more attention to video ads as compared to TV ads. Hence, online videos make it easier for brands to gain and retain customers as well.
8. Consistent content creation
As they say, content is king, and they say it right. Having a social media account for your brand is one thing and generating content on it is the other. You will have to post content uniformly to make your followers know that you are still standing in the market.
If you miss out on creating content for, say, two consecutive days, you will see the numbers falling. That’s how the social media drill is! Brands who have a profile need to maintain it by chalking out a perfect plan for a week or a month and posting accordingly. It makes the customer consume the content, spreads awareness among them about their brand, and keeps them reminded about the products and services you have to offer to them.
As mentioned in the article, you may attract a few customers, but the task lies in making them visit again. Digital marketing strategies allow you to gain a safe space in the virtual market where customers are likely to observe, follow, and re-visit your website.
It is to be noted that success doesn’t come overnight, and these strategies are not a one-time approach. You will have to follow these consistently, and it is certain to observe a positive change in the retention rate of your brand.