Customer turnover refers to the attrition rate of a customer base over time. Of course, every brand will experience some percentage of this, as not every customer is going to make one purchase or subscribe once and then stay with you until the day you close your doors (should that day come).
However, while you do seek to appeal to new customers, limiting those that leave can help you steadily grow and build your audience, and with it your market share. Believe it or not, investments in tech can help you achieve this outcome. Not only does it transform the customer experience, but gives you a more connected relationship with those who utilize your services.
App Development & Accounts
When someone downloads your app, they’re basically letting your business into their personal space, which keeps you on their mind.
That also inspires them to stick around, particularly if they’ve created an account with you. You could make account creation optional instead of forcing it, as many bail when they have to sign up before they can even look around. It works better to let folks browse first, then suggest making an account later to get special perks or save their preferences.
Small Login Devices, Keys & Cards
Small login devices or tech utilities, perhaps designed with small components by Tecan, can help you add more substance to the client-business relationship. Think about how hotels generally offer keycards and now phone apps that unlock rooms. Stores can also benefit from loyalty cards with chips or small tags customers can scan at checkout to keep a physical reminder of your brand. Having these items in wallets or on keychains keeps your business in mind for that reason, and it’s entirely intentional.
Personalized Algorithms & Recommendations
Smart systems can look at what people buy and browse to suggest products they’ll probably like, instead of spamming them wit newsletters or constant promotional offers which even modern brands like Uber have become notorious for. For example, Netflix keeps subscribers hooked by suggesting shows they might enjoy, and Amazon makes about 35% of its money from recommendations. You could use similar tech scaled down to fit your business size.
Easy Security Onboarding
Getting customers through security setups needs to be super simple, and almost no one wants to jump through endless hoops just to use your service. Think about how you could streamline password creation, verification steps, and security questions. Companies are now using fingerprint scanning, face recognition, or simple code texts to protect accounts without frustrating customers.
Software Compatibility & Functionality
Your tech needs to work everywhere your customers are, as if your app or website only works well on certain devices, you’re pretty much showing some customers the door. Make sure everything runs smoothly across phones, tablets, computers, and operating systems. That means accepting both Google & Apple Pay for example, and not just one.
