One of your biggest goals as a customer success manager is providing a high-quality customer experience that keeps customers with your company.
Customer retention is a key performance indicator for both you and your company, especially since keeping a customer is more cost-effective than acquiring a new customer.
In this article, we’re going to take a look at:
Several quick ways for you to increase customer retention
How to tweak your daily routine to achieve more quick wins with customers
The long-term benefits of quick wins and how they lead to better customer retention rates over time
Quick Ways to Increase Customer Retention
Send Customers Personalized Offers
Since part of your routine as a customer success manager is ensuring that your customers are happy, you should know how their business is doing, how they’re using your products, and if they could benefit from additional features or offerings.
Use this knowledge of your customers to create customized offers just for them. Put together a discounted offer on products they love or tempt them to add a new service by offering a free trial.
Don’t overwhelm them with unsolicited contacts, but use your knowledge of the customer’s needs to demonstrate your commitment to the partnership and show them the benefits of remaining a client.
Educate Your Customers
Throughout the customer journey, you should be educating each of your customers and expanding their knowledge. Look for opportunities to teach them something new about the products and services they’re using, which you can do through written content, walkthrough videos, or in-person training sessions.
Be certain that what you're teaching them is something that they will value, and that it is relevant and in context with the customer’s goals. This is your time to demonstrate your understanding of their needs and pain points.
You can also share relevant breaking news or interesting information from their industry that they might not be aware of. Create a few curated feeds of information relevant to your customers and when you see something useful, pass it along to your customers with a short personalized note on why you thought of them.
Share Social Proof
When one of your customers has a success story with your company, and it’s relevant to account, share the details with them.
If you can, send out the good news in an email blast, or work with the marketing team to do so. This provides social proof and inspiration for your other customers. Success stories from peers remind customers what’s possible and keeps them engaged with the products and services they use.
Understand that for customer success, your role is related to, but different from the efforts of your marketing team. Make sure that what you’re sending is relevant value-add content that has insights that can help the specific customer and be sure to demonstrate how they can use those insights.
Ask For Feedback – and Act On It!
Your customers experience the company’s products and services firsthand, so they understand your product in a different way than you do. Seek out their feedback, asking customers what kind of improvements or changes they would like to see. Just be sure to pass that feedback on to the appropriate teams so it can be acted on, especially if you notice common themes in the feedback you receive. And make sure that you let your customer know how you intend to act, and show them the efforts!
Thank Your Customers
Make an effort to thank your customers and show appreciation that they’ve chosen to do business with your company. You can always send gifts around the holidays or on the anniversary date they started working with your company, but with a keen eye, you can send something appropriate over when their company is celebrating its own milestone. Keep these personal, show that you care about and understand your customers.
Turning Customer Retention into a Daily Routine
Most of these simple tactics to increase customer retention can be incorporated into your daily routine. For example, you can make it part of your routine to educate a different customer every day. You can also set a reminder for the start of each week to check if any of your customers have an anniversary or company milestone approaching and prepare something ahead of time. By making these tips part of your everyday tasks at work, you’re always touching base with different customers and nurturing customer retention rates.
Long-Term Benefits of Quick Customer Retention Tactics
The beauty of these quick-win tactics is that they’ll all pay off in the short-term and over the long-term as well. As you gather these quick wins with your customer, you build a stronger working relationship with them and grow their loyalty to your company. When customers know you care about them as more than just a number, they’re more likely to renew year after year.
Improving customer retention rates means revenue for your company becomes more predictable and profits increase. Having customers re-sign with you, again and again, is a big piece of the successful customer journey you’re creating as a customer success manager.
Start Achieving Quick Wins for Customer Retention
To take advantage of quick wins in customer retention moving forward, keep the following tips in mind:
Do’s & Don’ts
DO take advantage of quick ways to increase customer retention, like personalized offers, sharing social proof, and sending thank you’s.
DON’T just work on customer retention inconsistently. Make it part of your daily routine!
DO check in with your peers to find out what’s working for them and to brainstorm new techniques.
DON’T forget to track your small wins. Monitoring your successes can help you understand what works and what doesn’t.