know about customer retention

How Much Do You Know About Customer Retention?

know about customer retention

The most important things you should know about customer retention

Every business owner knows how important their customers are. Every business owner makes an effort to keep their customers happy.  However, many businesses are missing some of the most important aspects of customer retention. Customer retention is about far more than good customer service.

You already provide a good service and reward your customers for their loyalty, but you can't stop there. We've put together some key requirements to help you retain your customers. How many of these did you already know about customer retention?

Customer retention needs to be company-wide

Many businesses allocate customer retention responsibilities to a single department or individual within the company. However, this is not going to bring you the best results.

One of the most important things to know about customer retention is that it needs to be a priority for every single person in your business. Whether they're in administration or marketing, all your employees should focus on how they can help retain customers. What can they do to improve the customer experience?

For this reason, ensure that all your employees have a voice in your business's customer retention strategies.

It’s not all about the customers

Yes, you read that correctly.

In order to retain customers, you need happy employees. Positivity sells.

Happy, dedicated employees will sell your business better and provide a better service, whilst going the extra mile for your customers.

On the other hand, customers are more likely to go elsewhere if their experience of your business is with an unenthused member of staff.

It's therefore vital that staff wellbeing is a consideration in your customer retention strategies. Companies who appreciate their employees will pass this positivity onto their customers.

Underpromise, overdeliver

It's easy to fall into the trap of overselling the benefits of your products and services.

Whilst it's essential to show off what you can do, err on the side of caution. It's better for a customer to be pleasantly surprised when you exceed their expectations than to find themselves wondering why they're not getting what was promised...

Make it easy for your customers to get support

No matter how hard you try, things go wrong. Sometimes products don't work and services fall short.

However, a negative experience can quickly be turned into a positive one if the issue is resolved promptly and effectively.

It's therefore vitally important that you make it very easy for your customers to get support. This could be a telephone helpline, a chatbot or a support email address.

Whichever you choose, ensure that these methods of contact are made clear to your customers (include contact details at the bottom of emails, invoices and your website). On top of this, make sure you always get back to your customers quickly to help resolve their issues.

In addition, create a wealth of useful resources for your customers to access if and when you're not available. For example, how-to guides, videos and FAQs are very useful. Highlight these to your customers so that they can reference them when they need to.

Onboarding is key

Onboarding is one of the most important techniques you should know about customer retention; the most successful strategies start as soon as the customer signs the dotted line.

A good onboarding process gives customers an excellent first impression of what to expect from your company. It will offer a level of support and communication that makes customers feel confident in their use of your products and services.

Onboarding processes will vary depending on your business. It could be a series of emails or a one-on-one training session. Whatever it is, the delivery of a first-class onboarding system will have your customers coming back for more.

We've covered just a few of the most important things to know about customer retention. The take-home message is that customer retention covers so much more than simply providing a good service. It encompasses the entirety of your business from the development of products to the delivery of services.

However, it's not an all-or-nothing approach. If your current customer retention strategy is looking sparse, you can make a significant difference by implementing just one of the suggestions above. As your customer base grows and your capacity increases, you can develop a well-rounded customer retention strategy to cover all bases.

For more advice on customer retention and where to start, contact us today.