If you don't retain the customers you acquire, customers churn and you lose money. And that's because acquiring new customers costs five times more than retaining existing ones.
So how do you scale your business and reduce churn? By focusing on customer retention. And in this article, we’ll discuss strategies and tools you can use to start increasing your retention rates.
Strategies to help boost customer retention
By making customer retention a focal point in your business, you increase your loyal customer base. And these customers are likely to recommend your product to other people who need it. With that being said, let’s discuss some strategies you can use to retain more customers.
Data-Driven Customer Success
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Focusing on your customers’ success means engaging with them and helping them succeed before they have a problem. But how can you do this if you’re not sure what they need? Some tools provide you with product usage analytics, which can help you see how your customers are using your product. And with this information, you can tailor your outreach to them.
Your customers new zealand phone number library will also appreciate the effort you're putting into helping them succeed, which can foster long-term relationships.
Test your customer onboarding campaign
The first interactions your customer has with you or your product can make a lasting impression on how they perceive your business. You want to make sure your onboarding campaign educates your customer and makes them feel welcome. Performing A/B testing on your campaigns can help you see what works and what may need to be tweaked or removed altogether.
An example of an A/B test you can run is using Videos in your onboarding campaigns. You can use a product explainer video to help customers become more familiar with the product.
Using landing pages
In addition to testing your onboarding campaigns, consider implementing landing pages. When done effectively, they can help create positive impressions on your potential customers. And this can help set the stage for their experience with your business once they’ve reached your onboarding campaign.
An excellent example of an engaging landing page is Bid4Papers . It is a direct sales platform that allows students to purchase academic papers that need to be created. Their page explains how they can benefit from their service, what they can expect from the writers, simple calls to action, and social proof.
By helping your customers see the value you offer, they will begin using your product or service with clear expectations, minimizing disappointment and churn. As a SaaS Copywriter , the true value of the copywriting services I offer is ensuring that landing pages sell the outcome the SaaS product provides and that they don’t leave out important points or oversell or overpromise.
Personalize communications
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Your customers don't want to feel like the email they received also reached thousands of other people. They want it to feel like it was just for them. And by doing this, you can build relationships with your customers, which will lead to higher customer retention.
You can personalize any interaction you have with your customers by using CRM and email marketing software. A CRM can provide you with relevant information about their purchasing history and customer service. You can then use this data in your email marketing software to segment your customers so you can create highly targeted emails.
Create a customer loyalty program
Show your customers who frequently purchase from you that you appreciate them with a customer loyalty program. In addition to showing your customers that you value their business, you are also motivating them to continue purchasing from you and spreading the word about your product.
When creating it, consider a tiered customer loyalty program. Each tier can offer your loyal customers more rewards, meaning they are more likely to continue putting effort into the program and increase their lifetime value .
Optimize your customer service
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Customer service is often the first place customers turn when they need help, whether it’s before or after the sale. And let’s say they have a terrible experience with your customer support team. In that case, they’re likely to turn to your competitors for a better experience, even if you have a better product.
On the other hand, let's say your customers have an exceptional experience with your support team. Then, even if they're not completely satisfied with your product, they're likely to stick around and become loyal customers.
Some ways to optimize your customer service experience to increase retention include:
Providing customer service on social media.
Offering
Creating a self-service knowledge base.
Ensure that your representatives have access to all of your customer data.
Using customer feedback
Your customers are one of the first places you should look when trying to increase retention rates. Your loyal customers can let you know what you’ve been doing right to keep them around. And your unhappy customers can tell you what they didn’t like and where you can improve .
You can gather customer comments and feedback by conducting surveys. The most effective surveys include a combination of multiple choice questions and optional open-ended questions because customers can answer them quickly and conveniently.
Customer Appreciation Events (Yes, Even Virtual Ones)
As mentioned above, your customers want to feel valued. And one way to let customers know that they are important to you and your company is by hosting customer appreciation events.
These events, dedicated solely to your customers, are a simple strategy you can use to build strong relationships with your customers. And customer appreciation events don’t need to be face-to-face. You can still offer giveaways, promotions, limited-time offers, and learn more about your customers with a virtual event.
An example of this is Patient Link , a healthcare solution for increasing patient engagement, who hosted a virtual event that provided valuable information to their customers and answered several topics. Another example is Hot Springs Aesthetics, PLLC , hosting a virtual event with a live demo and prizes.
The best tools to increase customer retention
Now that we’ve talked about the strategies you can implement, let’s explore the tools that can also increase your retention rates.
poptin
customer retention popups
Poptin is a SaaS platform that helps you convert website visitors into customers and customers into repeat buyers. The tool offers popups , forms, and autoresponders. You can use it to increase customer retention in several smart ways. Recover abandoned carts, create and promote loyalty programs, and increase cart value with upsells and cross-sells.
funnel
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Outfunnel is an email marketing platform that helps solve a common problem businesses face. And that’s sending emails based on segments they define from their CRM and syncing email engagement. With this information, you can build relationships with your customers and create personalized workflows for them.
InvGate
InvGate Service Desk enables you to provide top-level support by collecting all incoming request tickets, categorizing them based on department, priority, urgency and assigning them to the right agent for faster response.
HelpCrunch
HelpCrunch is an all-in-one customer communication platform with live chat, email marketing, help desk, and more. It is a comprehensive tool that offers various customer service options for your customers, behavior-based emails, and much more. Ultimately, with this tool, you can attract, onboard, and retain your customers in one place .
Brand mentions
With BrandMentions, you can track when people are talking about your brand across the web and social media channels. This can help you discover what customers are really saying about your brand and uncover the reasons for churn. With this information, you can make smarter product improvements.
Analyzing how users interact with your website provides valuable data that you can use to create a better product for your customers. And that’s what LiveSession, the session replay software, offers.
Tidio
Tidio allows you to connect with your customers instantly using chatbots through live chat and email marketing. Their chatbots can help you engage with website visitors and start building relationships with them when they visit your site.
Automate.io
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Automate.io helps you integrate your cloud applications so you can automate your business processes. It can help you personalize communications with your leads and customers by connecting your CRM, email marketing solution, and more.
Seller
You can boost your revenue and relationships with Salesmate, sales CRM and automation software. It helps you automate your customer interactions without sacrificing segmentation and personalization. Plus, it helps your team save time so they can focus on helping your customers instead of performing repetitive tasks.
Snov.io
Snov.io is a sales CRM that helps you generate leads, create custom triggered email drip campaigns, perform competitor analysis, and offer over 2,000 integrations.
sendX
SendX is an email marketing software that allows you to send advanced automated email campaigns. You can segment customers based on their behavior and purchasing activity to personalize more messages and increase retention.
