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5 Ways to Improve Your Customer Retention

21 Mar 2018

Customer retention is absolutely essential for a healthy company. In fact, a Bain and Company study found that a 5% increase in retention can result in an average profit increase of nearly 40% for a brand.

You know you have the best solutions and tools ready for your customers, but how can you remain top of mind and keep them coming back to your business?

From personalizing outreach to improving the quality of your customer service, there are plenty of ways to turn one-time customers into company loyalists.

1. Keep it personal

Being open and engaging with someone you’ve never met can be a challenge, but if you make your customer feel like a friend at the table, they will keep coming back to say hello. Take every opportunity to add personal touches on your emailsblog, and social media accounts that make your business personally accessible. Make sure to follow customers back on social media for an added positive impact.

Take it a step further and give behind the scenes insight on blog posts into how it all works at your company. Post photos and videos that feature employees, processes, and your contact information. Seeing the real people who take care of their tickets breaks down the digital barrier and keeps customers feeling more comfortable reaching out to your company for their needs.  

2. Offer benefits

Nothing feels better than being rewarded with something extra for time and money spent. Offer extra benefits to customers who contract with you or reach out to your support services. A simple discount can save a frustrated customer from walking out on your company. Added incentives ensure that the customer feels valued by your business as a whole. Consider giving a bonus offer to customers who give direct feedback through a survey or online tool.

This can be a double benefit to your company: you can increase your customer retention AND learn details about their level of satisfaction and how to improve it.

3. Check-in often and listen carefully

Contacting customers directly to check in and get feedback about their satisfaction with every interaction not only personalizes the experience but also shows that your company values them.

You will be able to gather data about their experience and keep them updated on your company’s latest products or services. Discussing a new product with a knowledgeable member of the company can pique a customer’s interest in returning.

Don’t disregard reaching out to those who gave a negative review either - they can be a great resource to identify problems and understand how to improve customer retention.  

4. Prioritize the customer’s experience

Customer experience is king! Talk directly with employees to get insight into what customers are looking for in their one-on-one interactions. Then collect and organize data on the most frequently asked questions on your support line and which of your services or products are utilized by most frequently. Turn those topics into meaningful blog posts and headers on your website to show your knowledge and build trust with customers on the fence about reaching out to your company again.

Wouldn’t you feel best coming back to a knowledgeable leader in the field who cares about your questions? A customer who has their needs addressed before they have to ask a question is more likely to be confident in returning.

5. Don’t wait to address customer feedback

After reading a negative review, a positive review, or culling though feedback surveys, don’t ponder for too long. Work at the pace of an olympic sprinter to provide the best customer service possible.

An Oracle study found that 50% of customers wait one week for a company’s response before abandoning the service entirely. Make customer service resources available over the phone and online so every customer can have their needs addressed as soon as possible.

With so many options for every product or service at the world’s fingertips, offering great customer service will make your company stand out and keep customers coming back for more.

Collecting data on your customers and their satisfaction, gaining insight into customer feedback, and developing real brand loyalty are all imperative to having life-long customers. Sign up for a Free Demo to find out how Smileback can help you keep customers forever.