Acquiring new customers can be very costly, so much so that forward-thinking enterprises also spend considerable amount of resources in order to retain existing ones. Indeed, encouraging people to sign up to your subscription-based business is just the first step. What can be more challenging is maintaining the ties you have already built.
This short guide will walk you through the basics of forging strong relationships with your customers. With the help of these tips, you may be able to gain some good insights on how to retain your clients, and in so doing, improve your average customer lifetime value.
Use smart subscription billing and recurring payment solutions
Your ability to retain customers is often dependent on the technologies upon which your services are hinged. In order to do well in today’s subscription-based economy, you need to have a powerful subscription billing and recurring payment platform that is fast and intuitive, allowing you to maintain optimum customer satisfaction throughout the entirety of the whole subscriber lifecycle.
Whether you offer over-the-top entertainment services or recurring delivery of goods like prepared meals, pet products, or groceries, you have to have a reliable subscription billing platform that allows for frictionless signup, upgrading, and renewal of customer subscriptions. This should be accompanied by an equally efficient recurring payment platform that efficiently resolves failed payment transactions. This helps in reducing customer attrition and in uplifting your overall revenue.
Reach out to your customers with relevant content
When it comes to creating content, businesses tend to overdo the selling part. Saturated with messages that are purely encouraging them to purchase products or services all the time, customers soon become jaded. As an alternative, you can try delivering useful and relevant content from which your clients can derive actual value. This way, your messages don’t just sell, they also benefit your customers.
If you deliver fresh produce, for instance, you can create a newsletter that talks about how your subscribers can use these products to create easy, healthy meals that their kids will actually love. On the other hand, if you’re providing lawn mowing services, you can write a blog article that discusses the process of composting, how this can be done at home, and how it can improve one’s garden. The possibilities are endless.
Reward and spotlight your customers
Your customers love to be reminded just how special they are to you, and they will certainly appreciate if you show them that you value their being part of your business. You can provide them with gift cards during special holidays like the 4th of July, Thanksgiving, and Christmas Day, or you can give them discount coupons during their birthday. You can even reward frequent buyers and renewing subscribers by enrolling them in a loyalty program that allows them take advantage of exclusive perks.
Another strategy you can try is bringing your customers in the limelight. Do you have a customer who’s doing charity work using your products or services? Feature them on your blog or in your social media posts. Do you have a client who’s into creating awesome works of art or who is trying to achieve a monumental athletic feat? Maybe you can get them as your brand ambassadors. These are just some of the ways that you can delight your customers and humanize your brand at the same time.
While the thought of building long and lasting relationships with your customers may sound daunting, you shouldn’t doubt your capability to accomplish such a goal. With the help of the efficient technologies, an appropriate marketing and content strategy, and a client relationship management scheme that sufficiently rewards your customers and highlights their value, you can very well create the right conditions that will allow you to maintain ties with the people who matter most to your business.