{"id":45490,"date":"2021-01-17T10:00:05","date_gmt":"2021-01-17T17:00:05","guid":{"rendered":"https:\/\/www.clearvoice.com\/resources\/customer-retention-strategies\/"},"modified":"2024-10-06T11:13:42","modified_gmt":"2024-10-06T18:13:42","slug":"customer-retention-strategies","status":"publish","type":"post","link":"https:\/\/www.clearvoice.com\/resources\/customer-retention-strategies\/","title":{"rendered":"Customer Retention Strategies: 5 Do’s, 6 Don’ts, and 3 Examples"},"content":{"rendered":"\t\t
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Customer retention is providing your customers with a brand experience that keeps them coming back as purchasers and advocates. Instead of a strategy that focuses on acquiring new customers, customer retention focuses on pleasing existing customers in order to lower customer churn or to increase future revenue opportunities.<\/strong><\/p><\/blockquote>

There are many layers of content marketing because it connects to every aspect of the customer lifecycle. This includes compelling copy to lure your target audience<\/a> in, clear, concise descriptions that encourage them to take action, and continued communication that keeps them raving about a brand for years to come. The last part is one of the most vital parts of customer retention strategies that will ensure the longevity of a business\u2019s success.<\/p>

Here, we explore the definition, purpose and value of\u00a0customer retention, along with expert-guided tips and real-world examples.<\/p>

What is customer retention?<\/h2>

Quite simply,\u00a0customer retention\u00a0is providing your customers with the brand experience that keeps them coming back as purchasers and advocates, according to\u00a0Esther Poulsen<\/strong>, CEO and founder of Raare Solutions<\/a>. This is communicated in a variety of ways, she says, starting from the first interaction with a potential user.<\/p>

Some of the mediums include sales messages, relating a brand\u2019s story through personalized, engaging content, multiple touchpoints through every lifecycle stage, available communication channels with fast responses,\u00a0community support and discussion, and creating a \u2018next best experience,’ rather than a \u2018next best offer.\u2019<\/p>

\u201cEntitled customers demand that brands repeatedly show how well they are understood and that their needs are being met with a personalized sales experience,\u201d Poulsen continues. \u201cGiving that experience ensures that customers remain loyal to the brand over time, even over times of uncertainty and crisis, as we saw in 2020.\u201d<\/p>

\"Why<\/p>

Why is customer retention important?<\/h2>

Poulsen says customer retention isn\u2019t just necessary \u2014 it\u2019s a vital component of an effective communication strategy. It represents the highest opportunity for operational efficiency and preserving the bottom line of sales and marketing budgets. As she explains, it can cost anywhere from five to 25 times more to acquire a new customer than to retain an existing one, painting a clear picture of where effort should be focused.<\/p>

\u201cBeyond just a resale, your customers are your biggest brand advocates. Keep them happy, and they will, in turn, evangelize a brand\u2019s offerings to their friends, family, business associates, anyone that would be interested in what the brand has to offer,\u201d Poulsen shares. \u201cPeople today love to share what they love to own, and building that trust with your established clientele will help pollinate the prospective customer sphere to bring new business at a lower cost overall.\u201d<\/p>

5 do’s of customer retention<\/h2>

As you begin to explore customer retention strategies, it is smart to follow guidelines from experts. The goal is to meet a customer where they are and provide resources, information and fodder that benefit their life, solve an issue, or make them feel heard and appreciated.<\/p>

The top-rated do\u2019s of customer retention include:<\/p>