How happy are your customers? It’s a question we should all be asking ourselves. Depending on which study you read and what industry you’re in, acquiring a new customer can be five to 25 times more expensive than retaining an existing one.
It’s wise to prioritize keeping the customers you already have happy.
Sprout Social offers these easy-to-implement customer retention strategies to help make that happen.
Invest in customer onboarding.
No longer an afterthought, customer onboarding is a business essential. 86% of people say they’d be more likely to stay loyal to a business that invests in onboarding content that welcomes and educates them after they’ve bought (Wyzowl).
A well-designed onboarding experience empowers customers to make the most of your product or service. The same study reports that video is today’s onboarding tool of choice. 91% of people have watched a video to understand better how to use a product. Beyond videos, use other channels to provide product guidance, emails, webinars, and insert or instruction sheets.
Create a sense of community through user-generated content.
Engage with your customers on social media—respond to their inquiries or comments promptly (this lets them know you’re listening), ask for their feedback, applaud their successes, and share their posts. SproutSocial says, “Sharing user-generated content in the form of reviews and customer photos represents a brilliant way to both engage your customers and build a much-needed sense of community among your buyers.”
Actively ask for customer feedback to improve your experience.
Operating feedback-fearless is key to staying aligned with your customers. Simply sending an email to ask how you’re doing is a quick and easy way to let customers know you’re tuned into their needs and user experience.
At Shamrock, we provide business reviews for our customers to give them the forum to talk about how we’re doing—what’s working well and which areas/services we can improve. SproutSocial touts other feedback benefits, “not only do your show your customers that you care about providing a stellar experience, but you can also gather invaluable testimonials to learn how to serve your base better.”
Reward your most loyal customers.
Customer loyalty programs are on-trend right now, particularly in retail—think insider offers, special promotions or products, and other exclusive deals.
Listen closely to your lost customers.
You can learn a lot from the customers who have walked away. Look at their feedback, If there are consistent complaints or comments about a particular product or aspect of your service, it’s time to take action.
Keep customers in the loop about your latest products, launches, and updates.
Use email and social media channels to direct customers to your latest blog or to your website to learn about your new product innovation. Use a content calendar to keep you organized and to make sure customers are informed and engaged.
Establish a follow-up frequency that keeps customers engaged.
Staying on favorable terms with your customers means being proactive. SproutSocial advises, “Frequent check-ins, such as outreach emails or calls, can help big time. You have to walk a fine line between checking in and potentially annoying your audience, though.”
Do you have a customer retention plan in place? The good news is, you’ve already done the hard part by winning over your customers. Now, use some of these techniques to help keep them coming back and sharing their positive experience with others.