Companies stand or fall by their skills at retaining customers over the long-haul. With that in mind, here are some of the critical trends in B2B customer retention that you may have missed:
Have a Customer Journey Strategy in operation
At first it might sound like simple jargon, but more and more businesses are modelling what are called “Customer Journey Strategies” to conceptualise and improve customer retention practices. Instead of focusing on the ‘destination’ (the point of sale), it helps to think about how customers actually reach that point.
How You Can Use B2B Customer Retention Trends
B2B Customer retention can easily be modelled and analysed
Every month, new tools emerge that can help with B2B customer retention, and skilled marketers know how to use them. By using the latest software tools, you can easily map how many customers reach the stage of making a final purchase, and where others decide to abandon their ‘customer journey’. With that information, savvy firms are perfecting their strategies, and you should do the same.
Customer loyalty programs are not biting the dust
Everyone remembers the cards that stores used to stamp every time you made a purchase, and many of us still have half-finished coffee shop loyalty cards clogging up our wallets. Well, B2B businesses can’t afford to sneer at these low-tech strategies. Instead, think about ways to promote customer loyalty, with initiatives like bonuses for regular orders, discounts or providing extra content to loyal clients.
Support your clients to succeed in B2B customer retention
It’s always surprising how often firms will forget about the need to provide excellent customer service. However, if you want to retain customers effectively, this is a key starting point. Make clients feel that they are part of a support community through well managed forums, be responsive to their concerns and thank them for their queries and never let their questions lie unanswered.
Use blogs to keep clients informed
Some say information is power these days, and it’s certainly true that successful firms know how to use information to their advantage. Show off your products and any changes to your service via well-written blogs and video content. At the very least, this content will demonstrate that you are always working to improve your service.
Anticipate customer concerns and keep them in the loop
Many firms choose to reach out to clients to make sure that they have received a high quality service. However, the challenge is to reach out without irritating your customers. That means offering genuine value every time you send an e-mail or make a follow-up call, instead of simply automating a sales pitch.
CRM and ERP are revolutionising B2B customer retention
In some ways, good firms are only as strong as their client database. Nowadays, you can find advanced software packages such as Customer Relationship Management and Enterprise Resource Planning software. These tools can allow you to automate aspects of customer interaction and to analyse customer retention trends within your organisation. These simple trends are changing the landscape of customer retention, so pay attention and make sure that your strategies are up to date.