Seven Simple Ways to Boost Customer Retention Rates
Winning over new customers is a difficult and expensive process, so it’s no surprise that the world’s best companies place a premium on retaining their customers once they’ve acquired them. Here are seven of the best tips to help improve your company’s customer retention:
Maintain a Dialogue with Customers
You don’t need to check in constantly with customers, but it’s important to check in every now and then to see how they are doing. For some of your best or highest-value customers, it may be worth opening up a regular dialogue with them. This might mean making calls to them, or inviting them to events you’re hosting.
Engage with Customers Online
There are plenty of ways to engage with customers that are free (or almost free). With social media, for example, you can set up a Facebook fan page where you can offer tips and advice for using your products, or send out exclusive coupon codes. And with email newsletters, you have a way of connecting with your company’s customers in a way that’s easy and convenient. Just make sure you are actually providing value, and not just spamming them.
Send out Customer Surveys
Surveys are a great way to “check the temperature” of your customers. After all, it’s best to catch any weaknesses or gaps before they turn into real problems. With surveys, you get an early warning system of potential problems.
Build a Great Customer Service Team
Nobody enjoys calling up 1-800 numbers and being put on hold for 10 minutes, then being forced to explain their situation over and over again. So make sure you are providing the best possible customer service at every single touch point—from the representatives on the floors of your store to the people answering the customer service calls.
Know Your Customer
In a best-case scenario, you will know your customer by first name as well as all of his or her interests. Using data that your marketing or sales team already has at their fingertips, that’s now very possible. Many companies are now able to customize a website experience, for example, by knowing exactly who is visiting a website.
Make a Habit of Saying Thanks
Your customers are the ones who keep your business running. So it’s worth it to say “Thanks” every now and then. These might be special offers, exclusive events, or special loyalty discounts. Show them you care, and they will come back, again and again.
Invest in Software
With CRM software, you can develop a much richer view of each and every customer experience. These tools, like the Communications module in Spire, are a great way to combine notes, issues and comments that you have.
By following these tips, you will be well on your way to boosting your customer retention rates and guaranteeing that customer satisfaction rates are the highest they’ve ever been!