Published on September 25th, 2016 | by Guest0
Six Essential Tools for Increasing Your Customer Retention Impact
A first sale is just half of the battle. Once your marketing campaign has paid off and you have gained a relevant amount of customers, the attention should switch to retaining their loyalty. It today’s crowded market, there’s little more valuable. Companies all around the world are making an effort to not only draw clients to their business but also keep them. However, it’s a challenging task, as people have multiple options for the same product or service. Their attention span is potentially limited, which is why it’s increasingly harder to keep their attention.
Customer retention remains highly underestimated in its value. Even though studies have shown that it’s up to seven times cheaper than finding new clients, a majority of 63% of companies out there are more focused on customer acquisition. So, it’s the more cost-efficient and convenient but less used option. In essence, that makes it one of the biggest mistakes companies make in their marketing strategies.
One should never neglect their existing clients and should, instead, create a campaign that centers around them. For that, they will need a few essential tools that will make their strategy a success.
Every customer wants to see their opinions heard and their suggestions taken into consideration. Asking for feedback is one of the best ways to increase client retention. A company that cares about the impact they have on their customers is one that will gain more in numbers long-term. By using a tool like GetFeedback, you can create and design beautiful surveys that will not only look spectacular but also encourage their involvement.
However, while you focus on the aspect of your survey, don’t forget to include the basics. Take Talk to Sonic as an example, where they made sure to include the polite greeting, the ability to choose the language of the questionnaire, and added a validation code that led to a free drink. An incentive for clients to complete it will get you more answers and your customers will see it as a kind gesture.
Numerous experts believe that email automation is an exceptionally powerful tool when it comes to increasing customer retention. However, it remains surprisingly underestimated. Around 33% of companies find it to be an efficient marketing tool, and yet 44% of clients say they prefer it for the purpose of communicating with a company. It has excellent capabilities of retaining “lost customers” who have gone a long time since their last purchase. Newsletters, announcements, or discounts could become invaluable to luring those clients back to your business.
An efficient tool would be MailChimp to secure that relationship between you and them. The advantages include the ability to segment your customer base and personalize your messages. This means that you can create special retention emails or specific emails for clients who have made purchases in the past. You can tailor the information to each person in part and take advantage of email automation to gain a loyal customer. The bottom line for client retention is to meet their needs, keep them engaged, and offer reminders of what interested them in your service in the first place. However, tread carefully and do not abuse it. You might end up in the dreaded Spam folder.
One of the best tools to increase the impact of your customer retention is live chat or a good support system. Speed is everything in today’s digital age, and this is especially the case for customer care. It’s often that clients are trapped speaking to an automated system for around 9.5 minutes on average, which may ultimately draw them away. Improving upon these services is a surefire way to retain a customer’s loyalty. Quicker responses and solutions to conflicts could result in a lifetime buyer, merely through the manner in which it resolved. It’s crucial that no business underestimates the power of fast and efficient responses.
An essential tool that could make the difference between a lost customer and one loyal for a lifetime is ZenDesk. It’s extremely effective in assuring swift responses that may clarify confusion, answer queries, or resolve any issue that may appear. And there will be problems and questions. It’s inevitable for a majority of products and services out there. How you handle them will imprint in the mind of your customers. One bad experience, for whatever reason, can lead to a potential client leaving altogether. Only a poor retention strategy does not focus on customer care.
One of the biggest challenges a business will face is not only acquiring customers but retaining them as well. It’s difficult to stand out and place yourself in a prime position when thousands, if not more, companies are vying for the attention of the same clients. Competition is certainly healthy, but you should also take the steps to staying ahead of the packs. That means making investments in ways that will keep your clients engaged and offering incentives to become repeat buyers.
Woobox efficiently covers everything from coupons to contests and quizzes that will help you promote your business further to your existing clients. It’s an excellent tool that will keep your business in their mind and keep them happy. And a happy customer has no reason not to become a loyal one. Woobox will aid you in giving your clients what they want.
A Gartner Group study underlined that 80% of your future profits will come from 20% of your existing clients. That means that a majority of what you make is rooted in your ability to retain customers. They need to be approached and satisfied with your services, with gentle reminders of your past collaborations. One tremendously impacting tool is making contact through social media. Be it Facebook, Twitter, LinkedIn, Instagram, or even the lesser used Snapchat or Reddit, your presence shows dedication, which leads to retention.
It’s paramount for every business to make use of every channel available. That’s where tools like SproutSocial come into play. It’s beneficial for social media management and providing excellent customer service, as well as marketing. The trio of benefits will increase the impact of your customer retention strategy. They will show your clients that you are attentive and active.
TextMagic can help your customer retention strategy because of a few important traits. It’s not as personal as instant messaging apps and not as impersonal as email. SMS is a potentially excellent tool to deliver messages that require no response, such as reminders. It limits the involvement of the customer but shows that your company is committed to creating a smooth experience.
It may seem like a faint touch, but it’s the little details that matter when it comes to standing out for your clients. Sending these messages with simple information can be as useful as you would email. There is no dependency on an internet connection, and it will surely not get lost in the mass of emails each person receives on a daily basis. It’s useful, cheap, and memorable.
Client retention is the bread and butter of every business. While the acquisition is significant, there’s a tremendous gap in value between a first-time customer and a loyal one. Each company should prioritize its attention fairly and evenly between them, but it’s your existing clients who will become the ambassadors of your brand.