Customer Retention Troubleshoot

  1. Not Measuring Marketing Results
    It can seem like the money spent on marketing is not worth the returns. It can be difficult to track how effective your marketing is unless you invest in marketing that you can track. Set up KPI, test initiatives, and check-in every month to adjust your marketing strategy to optimize your efforts.
  2. Depending Too Much on Referrals and Word of Mouth
    The power of referrals and word of mouth is unquestionable. However, putting too much faith in your customers to market for you is a dangerous trap. It’s important to be proactive in reaching out to new customers and encouraging current customers to share their great experiences with you. Incentives such as referral codes and buy one get one are great to reach friends of your clients.
  3. Storytelling
    A product or service is much more compelling when you consider the human factor. Crafting a story behind the delicious banana bread recipe or the inspiration for your tech startup builds more than just a merchandise and customer connection but a relationship between business owner and client. Tell your story and share your passions on your website, in your store, or through social media to bring another dimension to your product.
  4. Social Media
    Social media may seem unimportant when running a small business when other priorities seem more urgent. You’re not alone — less than 15% of small business owners have social media feed (Molz). Be aware, however, that social media is an incredible opportunity to be involved in the conversations buzzing in your target market. Take action to find conversations about the problem that your business can solve, and get involved in them right away by letting them know you are here to help.
  5. Managing Online Reviews
    Customers post their experiences left and right all over the web informing other potential customers of the benefits or dangers of choosing this business over that business. While many positive comments can definitely aid you in expanding your customer base, a single neglected negative comment can easily sweep away potential customers. Especially since people are more inclined to express an opinion if it’s negative, make sure to monitor social media and other websites to thank people for writing positive comments and empathize with negative ones. Show that you are listening and care about their experience with you.
  6. Forgetting Customer Win-back
    It’s inevitable you will lose some customers, but you can try to win them back. Offer a special promo and do your best to emphasize the best points in your product or service to try to entice your customers that you are still the solution to their problem. At the very least, find out what went wrong. By sending a customer survey, you can show your dissatisfied customer that you care about their experience and are taking steps to improve.

Sources: Moltz, Mulla-Feroze

Image: Salesforce