Every business wants to grow and increase their profit margin. To do so, companies must not only attract customers but retain them. Increasing customer retention rates by 5% increase profits by 25% to 95%. So how do you increase retention? Keep your customers happy!Increasing #CustomerRetention rates increases profits. @kilterly outlines 4 ways to keep your customers happy and improve retention. Take a look: Click To Tweet
Here are 4 ways that your marketing strategy can keep customers happy and improve retention.
1. Create Content that Resonates
Your customers have already bought in. So sending them the same content that you would a prospect is a big mistake. Show them that you know what they need by creating content that resonates. For example:
- Educational Content – Whether it’s product updates or FAQs, sharing content that will help your customer use your product in the most effective way for their business is sure to delight.
- Virtual Events – Deepen customer trust by hosting online meetings or webinars that showcase subject matter expertise.
- Customer Success Stories – Showcase companies in similar industries and explain how your product or service improved their business. If your customer has been with you for a while, feature them.
- Exclusive Content and Other Customer-Only Perks – Create eBooks or printables with insider tips and tricks or offer early access or exclusive discounts to new features and products. Customer-only perks fill their arsenal with even more they can share on the benefits of working with your company.
Retain your customers with relevant content. As Andrew Davis said, “Content builds relationships. Relationships are built on trust. Trust drives revenue.”
2. Use Social Media to Socialize, Not Sell
When people are on social media, they don’t want to be bombarded with ads and sales pitches. Businesses need to use social media correctly to keep their customers happy. Engage with them and share valuable content that is both informative and entertaining. Other ways to keep customers happy on social media include:
- Like, Favorite or Respond to Posts that Mention Your Brand – If it’s positive, great! If not, continue to listen to customers and their feedback. Responses show that you are dedicated to improvement.
- Conduct Polls – Polls are a great way to learn more about your customers. What they like, what they need or what is causing frustration. Use this information to hone in your marketing strategy or product improvements.
- Align with Relevant Current Events – Look ahead on the calendar. Are there any holidays or appreciation weeks for the clients you serve? Create posts to show that you are up with current events. You can also share curated content with articles that your customer base would be interested in. Make your page a one-stop shop.
Using social media correctly humanizes your business. When people can look past the company to the human within, loyalty is fostered.
3. Don’t Forget to Check-In
Check the pulse of your current customers on a regular basis. The insights they offer on what is and isn’t working for your product or brand will be invaluable. Gather this information by asking questions via email or on social media, looking at communication logs from your customer service department or conducting annual surveys. Transparency in this process provides an incentive to share their opinion and shows that you are dedicated to making improvements based on their feedback, in turn improving customer loyalty. In fact, nearly 90% of consumers say they are more willing to give brands a second chance after a bad experience when they show a history of transparency.#CustomerLoyalty is dependent on trust. Does your company instill trust? Find out with this blog from @kilterly. Click To Tweet
Also, consider creating an online community for your customers with Facebook groups or online forums. They will be empowered when they work together and learn from each other, leading to improved satisfaction.
4. Review the Data
Customer feedback may be great to have, but it doesn’t always ring true. Customers may try to up play or downplay different scenarios. Instead of solely relying on your customers’ words, look towards their actions. Go behind the scenes and use views, click-through rates, on-screen time or conversion rates to help educate your next move.
By understanding what content your customers have the most engagement with, you can learn what qualified people are truly interested in and what made them convert. Base your future content off of what has done best to keep them engaged. This data can help your organization identify trends and gaps which you can use to refine your strategy accordingly to increase conversions.
The relationships a company builds with its customers is mutually beneficial. The customer receives a service or product that meets their needs and the business turns a profit. But extending beyond money, customers provide insight that can drive a company forward through continuous improvement, in turn making the customer happier. By using the four steps outlined in this article, your business can garner the feedback it needs to retain customers and improve client satisfaction.
Kilterly looks deep into your data to help you identify the engagement level of your customers. Use this information to empower your teams, automate solutions and gain customer loyalty. See how it works when you sign up for a free, no pressure demo.