Improving Customer Retention Through Content
While an excellent lineup for products and services can guarantee strong sales acquisition, there are other effective ways to grow your business. Based on a Personalization Pulse Check by Accenture, 91% of consumers are more likely to transact with shops that provide them with significant offers and relevant recommendations. And according to Frederick Reichheld of Bain & Company, a customer retention rate boost of as little as 5% can result in a 25-95% increase in profits.
With that, not only should your business focus on expanding your sales initiatives to attain new customers, but it should also develop a well-structured customer loyalty retention program to keep your existing ones.
Today, there are many tactics to address customer retention. But the industry often overlooks one factor that can make all the difference in your brand: content. When utilized properly, a steady flow of quality content can create a loop in your marketing and sales cycle. To help keep your customers engaged and satisfied, here are 5 content marketing approaches to build or enhance your customer retention strategies:
Create Customized Content
Folloze research shows that 77% of B2B professionals find that personalized marketing efforts improve client relationships. Start by defining your customer personas and finding the right content to best suit their needs and preferences. Then, generate better audience connections by responding to comments or drafting a custom email to build rapport. The more you portray your business as authentic and humanized, the more likely you can convert regulars into brand advocates.
Publish Content Consistently
Apart from getting better rankings on search engines, regularly publishing content can establish brand authority and credibility among your audience. Create well-thought-out materials that give value to your customers to keep them coming back for more. May it be in the form of blogs, e-books, product demos, podcasts, or videos, make content that can maintain or strengthen your customer engagement. Get creative!
Enhance The User Experience
In this digital era, many businesses create apps, web extensions, or plug-ins to stay relevant in the field. Aside from giving your customers easy access to interact with your brand, prioritize convenience in their user experience. Come up with easy-to-use and purposeful tools to assist them with their concerns seamlessly.
Engage With Your Customers
Maximize content to inform and entertain your clients. Engage with them by hosting interactive events on social media or creating a group for exclusive customer rewards. You want to make your audience feel heard and seen, so utilize your platforms and reach out to them to show that you genuinely care about their experiences with your business, increasing your customer retention rate.
Through consistent and engaging content, you can create a customer feedback loop to improve your business performance. Gather feedback via surveys, live chats, or direct emails to identify your brand’s strengths and weaknesses. Address them accordingly by enhancing your products and services, and watch as your customer satisfaction rates adjust your customer retention numbers as well.
Whether in the e-commerce, finance, or tech industry, customer retention rates are key performance indicators (KPIs) you should monitor as they significantly affect your customer fulfillment and revenue scale. Now that you know how frequent and quality content can win new clients and retain current ones, start aligning your customer retention strategies with your content marketing efforts to elevate your brand to success!
About The Author
Trevor Michael is a Customer Contact Industry Specialist of Select VoiceCom. He has operated successfully within this niche industry for over ten years across Australia, New Zealand, and Southeast Asia. He enjoys writing, golf and going to social events.