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How to Improve Customer Retention

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Are you a team leader who is looking to improve your company’s customer retention? We hope this article will help you better understand which opportunities you can be taking advantage of to enhance customer loyalty, as well as identify where you may be missing the mark when it comes to sales strategies, marketing and your product positioning.

Keep Your Existing Customers Happy

We all know it’s more cost-effective to keep customers than it is to try and win over new ones. The latter requires the investment of far more human, marketing and tangible resources, and the conversion funnel is fraught with a wider array of obstacles that cause potential sales to fall to the wayside.

So, why isn’t every single company rigorously investing in customer retention?

Many companies are trying to enhance customer retention, but they simply don’t know the most strategic ways to go about it. A lot of the times, companies are making assumptions about their customers and generating retention solutions based on these beliefs.

Ask Your Customers What They Want

If you want to keep your customers, ask them how to do it.

After years of experience working with companies and their customers have proven to Shopper’s Confidential that the only smart place to start when trying to work on customer retention is by asking the customers themselves what sales and marketing tactics most appeal to them, as well as exactly what they’re looking for in their products.

Understand Your Customers Using ‘Voice of The Customer'

That’s why it’s essential to cultivate your company’s understanding of the voice of the customer, so you can recognize how your products, marketing and sales strategies are contributing to business success – or if they’re not. By compiling feedback from your customers, you will begin to see patterns surrounding these three key components of sustainability.

To ensure your conversations with customers authentically represent the landscape of your business, it’s important to work with a company who knows how to develop and implement customer feedback programs. Just as importantly, you want to make sure that your customer support collaboration will result in actionable takeaways.

Let the Voice of The Customer Guide Your Retention Program for a More Lucrative Future

Shopper’s Confidential will work with you to develop a strategic Voice of The Customer initiative that is unique to your company and gets the results you need to make smart and sustainable improvements. Contact our expert team today, so we can help you use this feedback to ensure your products, marketing and service models make the most sense to your customers and add the most value to their interactions with your brand.