The research shows that the cost to obtain new consumers is six to ten times more than what a brand spends on retaining an existing consumer in Singapore.This implies that it's time for businesses to revisit their policy and shift their focus towards retaining customers rather than attracting new customers. Below are some tips that will help businesses in improving customer retention in Singapore

Quality is Priority 
No doubt consumers love speedy checkout and quick solution to their problems, but when it comes to quality, it is second to none. Every customer want top notch customer service. In fact, a study have found that majority of customers prefers to stick with a brand that offers high quality service as compared to the ones that proffers speedy evolution. Hence, if a business wants to make its customer return then, it should never compromise on quality of product and or service.

Diminish Pain Points 
By enhancing customer experience, businesses can certainly improve customer retention, but in order to do so companies need to reduce their customers' pain points. For instance, if your customers have just one channel to gain help then, create multiple channels and reduce customer wait time. The instant access to support team will make their experience more seamless and encourage them to return to you for future purchases too. On the other hand, if customers continue to experience the same issue, not only they will switch to another brand, but they'll share poor experience with others too. Bad word of mouth can significantly dent your efforts to retain customers.

Use Multiple Communication Channels 
To offer good customer service, it is necessary that companies should listen to their customers. For example, to communicate effectively with customers, companies need to create multiple communication channels because you never know which channel your customers prefer more. Though, a research has revealed that email is still the most popular means of communication for people, but when it comes to highest satisfaction level live chat support is ranked above phone and email support.

Thus, instead of picking up just one channel businesses need to effectively communicate on all channels. This will not only shed the load off from phone and live chat support team, but also make more customers happy.