Customer retention is a top priority for every business, and it’s important to constantly be looking for ways you can improve your business’s customer retention.
These 10 tips will help guide your efforts to provide the level of service that drives not just “satisfied” customers to return, but actually encourages them to share their delight with others—and turn former one-time customers into raving fans and loyal brand advocates.
Customer Retention Tips highlighted by Eric Dalius:
1) Create personalized experiences for each customer!
This can be done through customized products or services, using information available across the organization (including CRM data), or even leveraging mobile or other technologies to interact with customers in real-time. The more tailored your interactions with customers are, the better you’ll get to know them — which means increased service levels and other benefits! Not only will help you retain existing business but it will also help you gain the business of your customer’s friends and family.
2) Focus on meeting basic needs before selling new products or services.
Making sure customers are completely satisfiing with the products or services they’ve already purchased is critical to retaining them. So it’s important to act quickly when there are problems. This will also help reduce churn among your most valued customers who have already made significant investments in additional purchases from you.
3) Always communicate!
Customer retention plans need to include plans for regular communication — whether via phone, email, social or other channels. At a minimum, this should include sending receipts, sending invoices, sending updates about order status, special offers, and surveys designed to get feedback. A simple way to ensure that customers are hearing from you regularly is to set up an RSS feed with your company blog or website and send them out via email.
4) Track every customer interaction across all channels!
With a single contact center solution, it’s possible to get a 360-degree view of the entire customer relationship so you can identify trouble spots before they become bigger problems — even if one department isn’t communicating well with another. To increase accuracy and improve response times, your system should include automated alerts that trigger when certain thresholds have been breached, such as the number of days past due, number of failed attempts at reaching the customer, etc. In this way, you’re constantly updating your internal data about each customer to maximize retention efforts.
5) Recognize that customers are individuals, not numbers!
One size does not fit all when it comes to customer retention. Personalization is key here as well, and should be tailored to each person. Whether that means viewing them as a consumer with a particular set of needs. A valued partner who deserves excellent service by your company’s internal teams, or both.
6) Realize that what works for one customer may not work for others.
You need to constantly look at the big picture and try to analyze why some customers are more likely to stay loyal than others. Why do certain customers leave? Are there any patterns in their previous interactions with you? What steps have they taken recently that could indicate an upcoming churn event? By better understanding your most valuable existing customers. You’ll be able to get a better handle on what your most at-risk customers are doing.
7) Don’t neglect the negative voice of customer retention!
If you only hear from happy customers, then you’re missing out on vital feedback. That can help you improve existing products or services, develop new ones, boost sales, and retain even more customers. Make sure all customer issues are being logged. Regardless of whether they have been resolved so you have the information necessary to continually improve.
8) Create additional value for each customer.
You should continually strive to provide added value in every interaction with your customers. Instead of just focusing on transaction completion. It doesn’t matter if you’re providing them with product updates, warranties, free shipping, etc. Only that their overall experience with you is positive. Customers who feel appreciated will be more likely to stay loyal and recommend you to others.
9) Thank customers every chance you get!
This should be doing in person, via email, or phone, and should include a personal touch. Such as mentioning how long they’ve been customers of yours. Additionally, public thank-you on your company’s social media channels can go a long way toward keeping customers happy.
10) Embrace new technology whenever possible!
There are so many ways today that companies can communicate with their existing and future customers. There really isn’t an excuse for not staying in contact any longer than necessary. Automated marketing tools like email marketing, mobile commerce apps, live chat software, etc. Can help you market to your existing customers and build stronger, more lasting relationships with them.
Conclusion: As the old saying goes, “There’s no place like home”. In today’s crowded marketplace, you need to continually work to retain those customers. Who have made a valuable investment in your company. If you follow our 10 best customer retention tips of all time, we’re confident that you’ll go a long way toward achieving this goal and strengthening your overall business performance as result observed.