Customer Retention Tips Every Company Can Benefit From
It can be easy to get a customer to come to your store (or visit your website) once. Even a lemonade stand stationed at the end of a driveway can pull in multiple customers on a hot summer day. However, the name of the game in business is customer retention, and if you aren’t able to bring them back a second or third or even fourteenth time, at the end of the day your business will fold like the table at said lemonade stand. However, with some basic tips, you’ll find that you can keep demand high and increase the lifetime value of each customer.
Listen to Your Customers
The best path towards high customer retention rates want is to listen to your customers. If you have a customer support team, they should be logging and recording the reason of each and every call or email to which they respond. This allows for substantial data collection around core issues and can let you know whether particular customer concerns are trending upwards or downwards in importance.
They say the customer is always right, and while that phrase has morphed into meaning that you should say “Yes,” to every customer, but phrase truly means that your customers will often tell you exactly where your business can improve. The classic example is if you’re only selling blue socks, but customers keep asking about red socks and green socks and, why not, a rainbow scarf, too, then you should consider expanding your product line.
Enable Your Customer Support Teams
Everyone has a customer support story they tell friends. The one where the support agent who didn’t care enough or, to get out of a difficult call, provided high expectations for which there was no follow-up. Unless you have a monopoly on your marketplace, these stories are incredibly damaging. Customer support should be quick, painless, and done with the customer, not call center metrics, in mind.
Additionally, all internal teams at your business should regularly meet with any person or group that regularly interacts with customers. From the maintenance team learning that the store is kept too cold or messes aren’t cleaned up fast enough to sales teams knowing what issues customers are facing when engaging in your product to your software team understanding what bugs are impacting use, your customer support team or their equivalent is a fount of knowledge that can help your business grow.
Customer retention is the building block for any business. By listening to your customers and enabling the teams that work most closely with them, you’ll be able to discover and resolve potential issues before they become widespread, leading to a consistently growing customer base.