It takes a lot of work convincing strangers to visit your store or even your website. In fact, getting new customers cost quite a bit more than retaining existing ones. According to Databox, we’re talking 5x to 25x more. (To all y’all who picked true; nice job!)
The big lesson? Never take existing customers for granted. To make sure we’re keeping happy customers, Databox offered a whopping 26 ways to improve your customer retention rate.
- Map out all customer touchpoints. Grab a pencil and paper, or draw it out on a whiteboard, and physically lay it all out. Focus on touchpoints throughout a 90-day period of service. Then tweak and optimize your strategy, apply your changes, and revisit every 6-months.
- Build out your onboarding process. This one dances on the line between new acquisitions and retaining existing customers, but the main point is very important: first impressions matter. Providing a seamless experience right off the bat will pay off long term.
- Create content to help existing customers. Let your customers know you can help them beyond just providing a product or service. Provide content exploring new and different ways they can use your products or make checklists to assist their own workflow.
- Set up a referral program. Referral programs help you gain new customers and ensure existing customers stick around. It’s a win-win. Offer discounts or upgrades to products as referral bonuses. Taking advantage of these bonuses will only work if the redeemer is a customer, so it works out for everybody.
- Pick up the phone. We’re all flooded with emails and social media posts, and ignoring the phone is all too easy. Picking up when customers call is such a valuable way you can strengthen a relationship. They’ll know just how committed you are in providing help when needed.
There are 21 more excellent customer retention tips in here, so read them all.
