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 increasingly, businesses are modelling “Customer Journey Strategies” to conceptualise and improve customer retention practices. Instead of focusing on the ‘destination’ (the point of sale), it helps to consider how customers 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 B2B customer retention, and skilled marketers know how to use them. Using the latest software tools lets you easily map how many customers reach the stage of making a final purchase and where others decide to abandon their ‘customer journey. Savvy firms are perfecting their strategies with that information, 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. 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 forget the need to provide excellent customer service. However, this is a crucial starting point for retaining customers effectively. Make clients feel that they are part of a support community. Be responsive to their concerns and thank them for their queries. Answer any questions they may have.
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 the 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 constantly working to improve your service.
Anticipate customer concerns and keep them in the loop
Many firms reach out to clients to ensure they receive 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
Good firms are only as strong as their client database in some ways. Nowadays, you can find advanced software packages such as Customer Relationship Management and Enterprise Resource Planning software. These tools can automate aspects of customer interaction and analyse customer retention trends within your organisation.
These simple trends are changing the landscape of customer retention. Pay attention and make sure that your strategies are up to date. To learn more about customer retention strategies, speak to one of us at Flowbird today. If you’re interested in marketing automation, why not sign up for a free trial using the button below?
