Keeping Customer Retention Up: Part 2

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Keeping Customer Retention Up: Part 2

On our last post we discussed the importance of keeping your Churn Rate down by spotting the signs and revamping your customer service.

Now our Axel & Associates Marketing experts are back with more tips, tricks, and strategies to reduce your losses and build your business gains!

How to Boost Your Customer Retention

First: Understand why they left.

When costumers stop opening emails, unsubscribing from newsletters, visiting your website, or showing other signs that they’ve left your brand, it’s a good idea to send one last email asking for their feedback. These often come in the form of “we’re sorry you’ve gone!” emails and include a brief, simple, and painless survey.

Often, however, once they’re gone you won’t hear back. This is where the importance of data comes in. Having good analytics will let you visually see if your churn rate is going up or going down over time and compare that with changes in your services like price, engagement efforts, and new features or glitches.

Once you have your data and have crunched it into a clear picture, you can incorporate these results into your churn-cutting strategy!

Then: Personalize, Personalize, Personalize.

This is a growing expectation in the modern online user experience. Fortunately, there are many ways your business can personalize the customer experience in layered ways that show attention to detail.

A common way is through mass emails. Modern Email Marketing campaigns allow for many sophisticated personalization features that go beyond sprinkling the recipient’s name throughout the email. Part of what drives personalization features in modern email marketing is the transition from segmentation to micro-segmentation. This approach steps away from seeing audiences in groups and more as unique individuals based on their distinct likes and dislikes. These interests are then worked into the email content and used to promote a product or service that they are more likely to be interested in from the start. That’s the diffidence between relevance and spam!

There are also many opportunities for personalized user experiences on your website. One is to actively ask for and collect feedback. Try sending regular surveys and consider providing an avenue (such as through email, forum, or chat features) to collect customer feedback, such as ideas for new products or services to roll out, or ways to improve existing ones. This helps you get ahead of dissatisfaction before it happens!

At the end of the day, data is what drives all personalization. This means, once again, you will need to utilize quality data. Tracking browsing and purchase history allows your business to offer more relevant options to your new and existing customers — and to evolve with their needs so they don’t look elsewhere.

  • Bonus Tip: consumers are more willing to consent to sharing data with your business if you are transparent about how you will use their data to offer more personalized experiences!

These steps will further position your business to keep capturing fleeing customers. Stay tuned for more Customer Retention Pro-Tips from the Axel and Associates Marketing and Branding experts!

Need immediate assistance to boost your business’s revenue and appearance? Reach us at 866-DAVIDAXEL (866-328-4329) or to schedule a free consultation and map out the best way forward for you and your brand.

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