It pays to keep your existing clients happy. On average, 65% of a company’s revenue comes from current customers. They already know your promo business and enjoy working with you. Your existing clients are also more likely to spend more than new customers when they buy.
Unfortunately, though, sometimes clients walk away. This customer churn may be due to a number of reasons, from a bad customer service experience to poor communication.
To reduce this rate, Kevin McReady, an SEO specialist for Acquire, says you can apply some smart strategies.
- Investigate the cause of the churn. Call the client, if possible, and find out what led to their decision. If the customer doesn’t want to talk on the phone, send them a customer exit survey. McReady advises keeping it short and asking just a couple questions that get to the heart of the matter.
- Get proactive with your customer service. Providing outstanding service every step of the way is one of the best ways to prevent customer churn. When customers are on your site, can they easily find the promos they’re looking for? Do you offer a live-chat option to get them the information they need? Customers may get so frustrated that they stop doing business with you altogether, McReady says. Don’t let them reach that point. Get ahead of any potential issues by providing immediate solutions.
- Make yourself indispensable. McReady gives the example of Zapier. The company provides a free trial period that lets prospects test their service before buying a plan. During this time period, users receive the same support a premium customer would receive. How can you integrate your offering into your clients’ lives in a way that makes you indispensable? When that’s the case, they’re less likely to switch to another promo company.
- Create community around your offering. Invite people into your corner of the promo universe. Invite them to submit photos of the promos you provided, or encourage them to share their story as a case study. McReady says a Q&A discussion board can also be an active and educational way to create community. The more clients feel connected, the less likely they are to move on to a different company.
- Reassert your value. Sometimes existing customers lose sight of the worth of your product or service as the initial novelty wears off, McReady says. Remind them of the value you create. One way to do this is to collect metrics and data that show the impact you have on their business. Spell out how you help drive revenue or save them time. McReady recommends keeping clients updated with this data and sharing progress as it’s made.
- Surprise ’em. There’s nothing like a surprise promo to put a smile on a client’s face. When you can brighten someone’s day and let them know you’re thinking of them, they’re more likely to continue working with you.
Some customer churn is going to happen, but you can keep it from increasing by asking for feedback often, listening to that feedback and making it appealing for customers to stay with you. Try some of the ideas above to stop churn in its tracks and increase your customer retention.
Compiled by Audrey Sellers
Source: Kevin McReady is an SEO specialist for Acquire, a customer communication platform.
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