Customer Retention - The Tactic of Sticky Buns
Customer retention (Stickiness) increases Profitability, boosts loyalty, and MAKES YOU CONSUME IN ONE SITTING
It's also more cost-effective to retain customers than to acquire new ones (i.e., a 5% increase in customer retention can increase company revenue by 25-95%.)
Don't just communicate about upselling, support, or billing; reinforce your value.
All these successful organizations communicate with engaging use case communications. Some Consumer Services examples are Netflix, Amazon, Spotify, iTunes, and Business to Business services like Google, MailChimp, Microsoft, SurveyMonkey, QuickBooks, and many more.
Creating Content for reinforcing the value and more use cases follows a straightforward workflow.
Content matters with pulling it all together to retain your customers with Continous Engagement and Customer Experience (CX).
Why leave customer experience to chance. Service companies are starting to invest beyond pre-sales efforts and move to the post-sales process to improve their renewal or month-to-month retention.
Create a calendar to keep your Content rolling continuously. Email Marketing/Blogs/Social Campaigns designed to boost customer retention. For example, it is best to publish at least one small outreach per week and one large a month as a general rule.
Looking at your resources as a part of your Content enables you to establish a better plan. For instance, if you have a service that features updates of new capabilities and actionable use, your content could regularly include repurposing sections of your services and customer success story into a blog post.
Every customer is looking for an Experience.
Improving the customer experience (CX) means your internal customer is also your advisor. Many companies have appointed roles such as Experience Officer. This role is responsible for leading CX's success. By consolidating pre and post-sales organizations such as customer success managers (CSMs), services, and support under one organization. For Services companies, this involves using Social Media, including Proprietary Blogs, Facebook, Instagram, or LinkedIn, as your primary social channels.
B2B markets have found that LinkedIn (Not just for job search) drives almost 300% more touchpoints than Facebook. Also, every vertical Services market has its specific industry websites. One example for IT software toolsets is Spiceworks/Ziff Davis, GitHub, or TechMap, which cater to professionals in the vertical for tech communities. Other verticals such as home improvement, real estate, restaurants, and more each have vertical websites.
What works for one sector (or even one company) may not work for another. Your services goal with vertical customer retention is to keep customers with solid knowledge of your specific verticals (i.e., Main Street Retailers, Business to Business Services, IT Systems Admin, etc.) topics. The content of knowledgeable customers makes the most sense to connect and maintain customer retention.
Customers get overwhelmed with all their responsibilities, and reading dry product doc does not engage, making your Content relatable instead of creating more work for the customer. Use quotes of how other customers have been successful with your services and how those wins made them feel. Case studies educate your customers on different use cases for your services across various industries that might be helpful for them.
Creating and publishing relatable Blogs, Case Studies, Product Announcements, and other Content will ensure your Services' customer retention goals are met and exceeded.
It's time to bring your stickiness ideas to life and reinforce the value of your services with continuous engagement, customer experience, and killer content.
Do you need help with content creation?
Infographics, Case Studies, Analyst Results, Press Releases, Survey-based White Papers for various industries like CRMX, CaaSX, Books on Digital / Audible (An Amazon Company), Quantum Computing, Data Analytics, and smaller Verticle SaaS (for Supply Chain, CRM, Data Analytics, Cloud Tools, Software Testing, Broadcast Video, and Consulting Services) for SaaS, Partners, and Start-ups.