As a small business owner, you know that customer retention is cheaper and more effective than customer acquisition. However, what you may not know is that it’s still a big effort for many businesses and can drain your resources if you don’t strategize correctly. So how do you retain the most customers with the least amount of effort and cost? Automation.
Automation can help you get far more done with less effort which makes for happy customers and employees. Read on to learn about the magic of customer retention automation and eight ways you can automate your retention strategy.
Elements of a Good Customer Retention Strategy
A good customer retention strategy doesn’t simply rest on having an incredible product. Think about the businesses you patronize and continue to go back to—the ones you can’t get enough of. What do they do or have? With some exceptions, they’ve probably built a long-lasting, personal relationship with you. This means that on top of having an addictive product, they likely personalize your experience every time, keep in touch, follow up, and deliver consistently amazing service. And they don’t let things fall through the cracks.
That takes a lot of work. How do they make it look so easy?
Automated customer retention takes care of everything so you don’t have to think about it. It prioritizes your existing customers by putting their needs first, and prioritizes you by decreasing the time and energy your customers have to spend on the phone. In this way, it allows you to optimize customer lifetime value while minimizing costs in a significant way.
6 Ways to Automate Your Customer Retention Strategy
Automating customer retention can make or break your retention strategy. But it’s important to remember that not all types of automation work for you, and some can hamper rather than strengthen relationships. So, how can you automate your customer retention strategy effectively? Here are six ways you can set yourself (and your customers) up for consistent success and optimal customer satisfaction.
1. Send Personalized Rewards
There’s nothing better than getting a coupon for a restaurant you go to often, a service you need, or a product you order frequently. Sending personalized rewards can increase customer retention because not only does it speak directly to customers’ needs (by anticipating their desires), but it also shows them that you know them, prioritize their business, and understand their history with you. Approximately 91% of consumers are more likely to buy from brands that have recommendations and offers that are relevant to them.
2. Send a Thank You After a Purchase
After every transaction with your customer, it’s time to say thanks. Following each purchase, send customers a personalized thank you for doing business with you. This can be an email, or better yet, a text. Make sure to always address customers by name, mention the product or service they purchased (if possible), and leave an open end that invites inquiry and commentary. The right template and automation software can help you get all these elements right.
