6 Easy Ways to Improve Customer Retention
Mar 4, 2019
What’s better than getting a new customer? Retaining an existing customer!
The best customer for any business is the one that comes back again and again. Having high customer retention shows that your customers are happy with both the product they received and the service you provided them. It’s also more cost effective to focus on customer retention rather than customer acquisition. It can be anywhere from five to ten times more expensive to get a new customer as it is to keep a current one! Plus, a happy customer is more likely to tell other potential customers about your company which brings in new leads. Here are the top 6 ways to make sure all your customers are repeat customers!
1. Exceed Their Expectations
If you want to start improving your customer retention, you can start by analyzing your current customer experience. Go through the entire process from the first time they visit your website all the way through the order arriving in their hands and think about how it could be better. The more you deliver consistent and positive results, the more your client will trust you and feel comfortable using your company for all of their projects. Train your team to go above and beyond and give your customers the best experience. If you have your team invest some extra time in making your customers happy, it will pay off in spades when those customers come back time and time again!
2. Stay on Top of Your Customer Relationship Management
Building a relationship with your customers isn’t always easy, but with the help of a CRM module you can gather and manage customer information and make sure you are engaging with them on a regular basis. A good CRM solution provides your entire company with communication records which means that if a customer’s point of contact is out of the office, they can still get help with their order. You can also use CRM to set follow-up timelines to check on your customers and make sure they are satisfied with the products and services they received. Try out new ways to engage with your customers and build top-of-mind awareness like regular email marketing campaigns or social media posts that showcase relevant products.
3. Ask for Feedback and Use It
If you never ask where your customers’ pain points are, you’ll never know how to fix them! Reach out to your customers to ask for feedback on the entire process. Then, analyze the results to see if there is a specific area with a dropoff in satisfaction. While getting feedback on their experience with your company, it would also be beneficial to ask if they have any ideas for how you can improve. Customer feedback is a resource that shouldn’t be ignored, so make it as easy as possible for them to share their ideas and any issues they are having.
4. Show Off Your Work
Posting high-quality content on your website is a great way to move your customers through the four phases of the content marketing funnel and turn prospects into loyal customers. Use your website to publish case studies, blogs, and videos that showcase successful campaigns from previous clients or how you went the extra mile to help a customer with a last-minute order.
Your customers want to know what to expect so they’ll want to see reviews and testimonials before they make a purchase. If the customer can see examples of other companies you’ve helped, they will have positive expectations in mind and are likely to feel good about their decision once they place an order.
5. Give Back With Corporate Social Responsibility
Social responsibility is an important way to distinguish your company from your competitors. Sometimes customers have loyalty to a brand not because of their sales tactics or their pricing, but because they give back to their community. Corporate social responsibility (CSR) isn’t just for large corporations; lots of businesses in the promotional products industry support a wide range of worthy causes. If you want to find products that give back to your favorite cause, you can use the CSR search in SAGE Online and let your customers know that part of their purchase is going towards making the world a better place.
6. Loyalty Programs and Inner Circles
Retained customers buy more often and spend more per order than newer customers so take the extra step to reward them for their loyalty! Create a list of your VIP customers and help foster customer loyalty by providing even more value to them. This goes a step beyond stellar customer service and can take the form of a customer loyalty or rewards program. For example, the SAGE Insider Program gives customers the opportunity to provide feedback on our products and services. Members also receive exclusive benefits like inside looks at the development roadmap, invitations to Insider events, and access to a private discussion group. The right program for your company might include setting up loyalty bonuses for repeat customers or incentivizing customer referrals. Now that your customers know the value of your products and have seen the kind of service you provide, these extra touches can keep your most profitable accounts coming back again and again.
Customer retention can be an important way to measure the success of your business. With these 6 tips up your sleeve, you can let your customers know how appreciated they are and encourage them to keep coming back for more.