A list of Top 8 Strategies for Customer Retention which are followed by the Top CSMs of the company to increase brand loyalty.
#1 Focus on Building Trust
As you manage your relationship with new and existing customers, make sure you give them ample opportunity to trust you. Ensure appropriate expectations are set, no false promises are made, customer queries are responded to in timely fashion and that the customer realizes that you are working hard to make them succeed.
#2 Create Peaks in Customer Experience
Find milestones in the customer relationship and be creative in finding ways to reward customers in ways they don’t expect. Unexpected displays of appreciation (albeit small) can go a long way to improve customer experience and offsetting the cost of the product/service many times over, leading to great retention stats.
#3 Over-deliver, Not Over-promise
Ensure that inbound marketers and sales teams representing you are not getting carried away when it comes to delivering your products’ value proposition. This tactic may get you leads and sales in the short run, but if your product or service doesn’t live up to their expectations, your customer retention is bound to be low, and your brand will lose a lot of goodwill.
#4 Conduct Regular Dipstick Surveys
Well timed, appropriately designed, online customer surveys are key to understanding where your customers are struggling and how you can improve the customer experience. Use brief customer surveys, to gain insights into where you could improve to empower your customers to work smarter and more effectively with your product.
#5 Ensure Customer Service is Top Class
The best customer support is when the customer does not need support, and when everything works exactly as it should (and as they expect). While that might be tough to achieve, at least ensure that you give your customers the support they need quickly, effectively and in a friendly manner. Invest in support systems as a great customer retention mechanism.
#6 Appropriately Frequent Touchpoints
Use a Touchpoint Playbook to keep in touch with your customers at regular intervals.This could be a sequence of events, phone calls, special offers, information nuggets and so on, which you send to your customers. However, as always, content is king, and what you send your customers (rather than how frequently) is going to make all the difference.
#7 Excel in Customer Education
Make your customer better at using your product by educating them constantly, and share ways in which other customers are using the tool. Don’t keep claiming that “your product is so easy to use”, if you want to improve customer retention, try to get to a place where at least some of your customers start saying that.
#8 Select a Great Customer Success Tool
Ensure you are using a great Customer Success platform that saves your team’s time, automates alerts, touchpoints and playbooks, is easily accessible by all team members (across departments) and provides relevant information about your customers and how well your product is being used. Without a great customer success tool, high customer retention would be nearly impossible to achieve.9
Read through these strategies for customer retention and let us know in the comments below if we have missed others! Also, feel free to download the copy.
Rakhin has over 10 years of experience driving business development and client services. In his prior roles, he stayed close to customers to understand their requirements and help them achieve their business goals. He is passionate about customer success.
Published June 02, 2020, Updated June 22, 2020