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What is Client Retention?

Client retention refers to the company’s ability to turn the clients into repeat buyers and prevent them from switching to the other companies or competitive companies. As a performance metric, it also indicates whether your product and the quality of service provided by you to your customers please them or not.

How To Maintain Client Retention?

• You should keep in touch with your customers.
  
• Thanking your customers every time they buy something is beneficial.                                                                                      

Some Examples of Client Retention:

• Share your mission and brand story- One way to get customers return to your business is by making them fall in love with your brand. When a customer feels a connection with your brand, mission, and vision then that contributes to a deeper sense of loyalty. Clearly communicate your values, openly share your brand story so customers can get to know and love you.
• Share company changes and news(Buffer)- Keeping customers in a loop is another way of building trust while bringing customers closer to your brand. As your company updates or any changes are made then, let customers know by posting blogs or sending newsletters that can update them on company news. Buffer, a social media marketing provider, is a prime example of customer retention strategy.
• Educate and help customers(Canva)-  For a deep bond between customers and your brand, they need more than just good products and services. They need to see that brand truly cares about helping them. One way to offer this type of support is by creating and sharing evergreen content that educates and helps your customers to grow. A good example of this is Canva’s Design School. It provides resources, guides, step-by-step videos that help customers to use their products as well as improves their graphic design skills.
• Utilise targeting and personalisation(CVS Pharmacy)- Customers are more likely to revert to the marketing messages when they feel the content speaks directly to them. Create content that addresses directly to your target market and uses personalisation and hyper-targeting to share messages and offers that are specific for individual consumers. A good example for this is CVS Pharmacy, it uses personalisation in their email marketing.
• Follow up after a purchase(Ring)- Remember that your work isn’t over once a consumer buys from you. To bring the customer back to you, follow up with them when they reach the post-purchase phase. Reconnect with the customers after their purchase to thank them and offer some additional help with getting the most out of your products and services. Once the customer is registered with Ring security system account, the company sends follow up emails to welcome customers and share information with them about how to set up the product and use all of it’s features.
• Suggest related products(Amazon)- When a customer reaches your brand and buys something, you get to know their needs, demands, and their taste about a particular product. To boost your customer retention, put that information to use. Use those insights, to create a list of suggested products based on your consumer needs and past shopping activity. To see this as an example, login to an amazon account. On the welcome page itself, amazon provides lists of suggested products & recommendations, driving customers to the products that they are most likely to want, need, and buy.                                                        

5 Customer-retention tools that will ensure that your customer keeps loving you:

• See it all with Smartlook- Smartlook software, available in both free and paid versions. Shows you replays of what users do when they visit your site. With this software, you can see which countries they came from, the amount of time they spent on any particular page, the pages they visited and which pages they exited from. This software also shows how your pages are visible on different devices, operating systems, and browsers.
• Make customers trust you with Yotpo-  This software keeps putting the reviews and user generated content(UGC) in front of your potential customer faces while they’re checking out your business. In the end, Yotpo helps to solidify your customers’ trust in you, and increase your conversation and sales.
• Validate market demand with Validate- If there’s no real market demand then Retention and customer loyalty won’t happen for your business. You can actually test if there’s any demand at all.

There are many tools out there to give you insights whether or not your product idea is in demand or not, but Proved is one of the cheapest and most effective options.

This software gathers your ideas about products and sends a questionnaire around and is  partnered with Cint-- which is the world’s largest exchange platform -- to get feedback from millions of targeted respondents. There’s a dashboard where you can easily refer to see whether your product will be a hit with your target market or not, Once your product is ready.

• Run A/B test optimizely-  A/B tests are powerful marketing-retention strategy. You can run tests between item A and item B to see what is preferred by your customer. For example, MedienReich a computer training company increases its engagement rate (which improves retention rate) by whopping 40.87% -- after running an A/B test on two different versions on its homepage. A marketing software  like Optimizely makes it  much easier to run A/B tests. It helps you run experiments virtually on every single hypothesis, item or function of your app, website or product in a short period of time. It shows you many  options which targets users and find most useful product, and consequently helps you make better decisions.

•  Measure your customer retention efforts with Google Analytics-

Like millions of many other website owners, you probably already have Google Analytics installed on your site.

Besides looking at traffic numbers and sources, bounce rates, most visited pages, etc., Google analytics can play a huge role in your customer retention efforts. You can use the tool to see:

• Which page your customers spend the most time on
• What time of the day users are most active
• Which pages customers hate
• The monetary value of your traffic
• Most marketers underestimate the power of Google Analytics, yet it provides some real functionalities for measuring your customer retention effort.
• Visit some Customer Relationship Management tools like-hubspot, salesforce, freshwork, etc.                       
  

Conclusion:

Other tools are available to help you retain customers and encourage them to refer you more often. Some tools will cost a few bucks but are worth it, and some cost nothing but time and effort.

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