11 Essentials for Customer Retention

Consumer insights on customer retention

Thanks to The Wise Marketer for the 11 essentials.  I’ve added my thoughts to each based on my experience:

  1. Don’t just collect data — use it.  Let your customers know that you hear what they’re saying and here’s what you’re going to do based on their feedback.
  2. Treat customers the way you’d like to be treated.  I suggest treating your employees the same, since that’s how they will treat your customers.  Your employees will not care about your customers if you don’t care about your employees.
  3. Be different — if you dare.  What are your vision, mission and values?  How does that differentiate you from your competition?  Does your consumer confirm what you think?
  4. CRM doesn’t belong only to the CRM team.  Everyone needs to be involved and empowered to know, use and update data in the CRM.  Otherwise, the data will not be current.
  5. Timing goes a long way.  Know the key dates in your customers’ lives — their birthday, their anniversary, the day they need to replace a part on the product they bought from you.
  6. Be interested and get to know your customers.  The goal is to have a dialogue that can lead to a long-term and mutually beneficial relationship.
  7. Make the most of your advocates.  Do you know who your raving fans are?  Have you asked them for referrals?  Testimonials?
  8. Try to create “surprise and delight.”  If you do, they’ll tell their friends via social media which is invaluable to your marketing.
  9. Measure, measure, measure.  Identify key metrics based on your firm’s goals and objectives.
  10. Stay relevant and show value quickly.  Reward people for signing up for your newsletter.  Give them a gift for doing business with you.  When Amazon just sold books, they always sent a bookmark with the order.
  11. Keep your employees involved.  Happy employees = happy customers.

What are your essentials for customer retention?

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About Insights From Analytics

Integrated marketing professional who generates insights from analytics to increase revenue. Daily blog now resides at www.insightsfromanalytics.com/blog.
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