Customer Retention

Holding on to customers is a vital part of your marketing strategy. Out of See, Think, Do, Care, customer retention is the objective of the Care phase. Forget about classic loyalty programs based on collecting points. The key to keeping any customer is building and reinforcing a strong relationship with them.

Read on

Build a relationship

If your only form of communication with customers is an invoice in an automatic mail, you may end up losing some of them to your competition, even if you have a great product. You have an abundance of options to nurture your relationships with customers. For example, you can

  • Notify customers when you add a new feature and ask them to test it out—many will appreciate having early access

  • Email your customers newsletters with value-adding content and exclusive offers

  • Create a closed Facebook group to share your news with customers directly

Spend some time learning about successful customer retention campaigns—you may find inspiration for relationship-building activities that nobody has done before.

Ask customers you’ve lost to share their reasons for leaving you. You may be surprised to hear what they have to say, and you will have information you can use to improve your product and company.

Measure

Measure how your customers use your product and their level of engagement—for example, track the number of logins or actions users make in your app. This enables you to catch potential and existing problems before they get out of hand, and will help you retain customers that may be thinking of leaving you.

Measure your product’s churn rate as well. This metric tells you how quickly you’re losing customers. If your churn rate is greater than your acquisition rate, your client base is shrinking, and you must deal with it asap.