Are you building a team that works together efficiently? Is your company performing at its best level? Are you using honest feedback and measuring the results of those efforts? If not, you are doing more than 90% of what it takes to increase retention and improve performance. Here’s how to do it.
Strategic Team Building. A strong predictive success indicator of customer retention is an organization’s culture. A strong culture is defined by three things: commitment to the values of the business, the willingness to share responsibilities and rewards with others, and the ability to establish and maintain clear and honest lines of communication. A strong predictor of customer retention means that your employees live by these values and are willing to share responsibilities and rewards with others. A strong predictor also means that your customers have confidence in the integrity and competence of your business. If your company values these things, then you will foster customer retention and growth.
Developing New Customer Leads. The ability to develop and manage new customers requires creativity, determination, and a willingness to risk taking a chance on a new potential client. The ability to acquire and nurture new customers is an integral part of the overall retention and growth of the customer base. New customers are also a key source of repeat customers and customer referrals. As such, your marketing campaigns should include strategies for developing new customers.
Developing Great Customer Service. In order to increase retention and customer loyalty you must provide excellent customer service. The top marketing strategies for increasing customer service focus on providing clear, easy-to-understand answers to questions, providing customers with the opportunity to contact you directly, providing updated information about your company and current offerings, and providing your customers with a great impression before they even contact you. These strategies also involve an overall focus on providing great support and making sure that your customer feels valued as a customer.
Analytics. The power of analytics in your retention marketing strategy should not be underestimated. It provides insight into how well your marketing efforts are working. Without the benefit of analytics, you may not be aware of the many ways that your advertising is impacting your business. These insights can also provide a means to track changes in your advertising strategy and measure performance over time.
Customer Feedback. Utilizing customer feedback is another important aspect of your marketing campaign that can have a significant impact on the results you achieve. Through customer feedback you can learn about how well your advertising is working for your target audience. This information allows you to make the necessary adjustments to strengthen your advertising or to create new ideas that bring new customers into your fold. The best customer retention strategies are those that take the time to listen to what your customers have to say and engage them in meaningful dialogue. Interacting with your customers through customer feedback helps to cement customer loyalty and extends the lifetime of your marketing campaign.
Follow up. As you develop your marketing campaign it is important that you provide regular follow up communication. This can range from small appreciation notes on a postcard to sending personalized email or letters to bring up new points of discussion within your organization. Each follow up communication provided should always attempt to build on the previous one and provide a way for your company to learn more about who your customers are and what they are looking for. Building and maintaining relationships with your customers is an important part of increasing your customer retention and ultimately increasing your profitability.
Employee retention is critical to a successful advertising and marketing effort. When employees feel like they are appreciated and their needs are being met, they will not only increase retention but also work harder to ensure that your company is profitable in the long run. A simple way to improve retention in the workforce is to provide open communication, communicate your expectations of your employees and create an environment where employees know that they will be heard. Giving your employees the opportunity to give you feedback on their experiences and creating a positive work environment is one of the most effective ways to increase retention.