How To Improve Customer Retention With Strategic Data Solutions

Acquiring new customers is fantastic, but how do you keep them? Having a suitable customer retention program in place alongside strategic data solutions will ensure your clients remain happy and loyal to your business.

Hire an expert

Having an expert on hand will help your company get off on the right foot. To truly understand your customer’s behaviour and how to manage your marketing data, you need companies like Data HQ. They can assist your company with a range of strategic data solutions from data management, marketing automation or analytics.

Understand why customers are leaving

There are many reasons why your customers may be leaving, and understanding the root cause will help you improve retention. Encourage customer feedback so that you can get ahead of any issues that arise before the customer stops using your business.

Some common issues that companies encounter are:

  • Poor customer experience: When clients feel they have been mistreated by a business, they can be left feeling frustrated and are more likely to leave.
  • Price: In conjunction with the customer experience, clients are more likely to pay more for a good service. However, if they feel they are treated poorly, and another company can offer a better experience for a lower price, they will change providers.
  • Lack Of Human Interaction: Customers looking for a solution to a problem prefer to have multiple options for contacting a company, but most like to have a human interaction to solve the issue faster. If a company only offers a FAQ section or the option to email, a customer can become disillusioned and leave.

Listen to your customers

Many companies believe they have excellent customer service, but when surveying current customers or those who recently left, companies found they needed to improve in order to retain their clients.

Asking for regular feedback from your customers is one thing, but you need to listen to what they are telling you and implement changes where necessary. Customers who feel ignored are just as likely to leave as those that have had bad experiences.

Implement special offers

Analyse your customers ordering patterns and offer deals as a reward for their loyalty. If you have customers whose orders have tapered off in frequency, then reach out with discounts on products they have been previously interested in. Your customers will feel valued and will be less likely to take their business to your competition in future.

Send regular newsletters

Make sure your customers remember you with regular newsletters; be careful not to send too many as this can have an adverse effect. Company newsletters are a cost-effect and straightforward way to maintain customer retention. Tell stories and give business updates to create a friendly and human approach to let your customers feel more connected to your company. Set a schedule to keep on top of when these newsletters need to be sent or create an automation tool to remove the chance for human error. Newsletters may be a simple tool, but they are a fantastic way to engage with customers and remind them of your brand every time they open their inbox.