5 Steps to Improve Your Customer Retention Strategy

5 Steps to Improve Your Customer Retention Strategy

Published on 26 February 2018

 

Please raise your hand if you’ve ever lost a customer due to a lousy customer retention strategy.

 

When you get on the phone with your customer, you’re hit with complaints and backlash. The conversation ends with, “Please discontinue my membership, this magazine is no longer providing value to me.”

 

Except it might sound a lot nastier than that.

 

Sometimes, your employees are too busy doing other work that this isn’t top priority.

 

Well, there’s good news: retaining customers doesn’t have to be daunting. With the right strategy and tools at your disposal, you could easily be putting a new customer retention strategy in place by the end of the month.

 

It’s time to get serious about customer retention. Let’s discuss the 5 steps you can take in order to retain more customers.

 

5 Steps to Improve Customer Retention

 

1) Make sure that your audience is listening

Before you even think about developing a new customer retention strategy or improving your old one, you should be sure that you are currently engaging with your audience.

This could be on social media, through email marketing or on the phone.

Just like you would make sure you have a list of phone numbers before calling them, you want to be sure that you have an audience that is listening and engaged.

Then, you can feel free to continue reaching out to current customers. Make sure that you are talking to a relevant audience. If you don’t have the phone numbers and email addresses of current customers, this is something that you NEED to get as soon as possible.

 

2) Distribute content that they care about

After you’ve established that you have an audience that is listening, figure out if the content you’re using is relevant to them.

In the first step, you should’ve asked yourself, “Do I have an audience that is listening?”

Now, for this step you need to ask yourself if your audience cares.

Is the content that you are sending out creating a demand for your customers?

This way, you won’t have to figure this out with each additional piece of content that you are planning on sending out. Always make your content relevant.

 

3) Make it nothing short of an experience

Now that you are engaging with customers and using relevant content, you need to be sure that you are delivering an experience.

Two great examples of companies that deliver experiences are Telsa and Disney.

Both companies are much more than cars and amusement parks. They’re about delivering an unforgettable experience that the customer keeps coming back for.

 

4) ABC – Always Be Communicating

When it comes to customer retention, communication is extremely important.

If you don’t talk to your customers for years, what will they think? Either that you’re no longer in business or that you just don’t care.

Pick up the phone and call your customers. Ask them about how you can improve their experience, tell them about a new promotion or product, or develop a strategy that will keep you at the top of their mind.

Think of this step as a way to nurture your relationships with your consumers so that the next time they think about purchasing, they know who to call.

 

5) Deliver exceptional customer service

If you are listening to your audience, distributing content they care about, putting together an experience, and communicating with your customers then you’re almost there.

The very last step of this process is to deliver exceptional customer service. To be quite honest, without this last step, nothing else matters.

Your customers and clients are your most important asset to your company. So, put a smile on your face and treat them like it.

 

Now, you’re ready to improve your customer retention strategy and start nurturing those relationships with your consumers. And you know what the best part is? Next time, putting together a new customer retention strategy won’t feel quite as daunting. 

 

Written by: Amy Schiller