Goal-focused, customer-driven marketing is gaining momentum across many industries. As customer acquisition costs continue to rise with traditional forms of marketing, customer retention is more valuable now than ever before. According to our partners at HubSpot, inbound marketing is the best way to turn strangers into customers, and most importantly, from customers to your brand promoters. So, how does inbound marketing help increase your customer retention rate? Let’s take this time today to discuss some strategies for your business.
Repeat customers and brand evangelists are imperative to a healthy sales cycle—making customer retention strategies of critical importance to any business. Customer retention programs are usually composed of several tactics used to engage, delight, and provide value to current clients. The idea here, especially in relation to inbound marketing, is that when you enjoy and provide transparent value, you earn the opportunity for repeat purchases and longer customer lifecycles.
If you need some quick insight to inspire trust with your customers, Marie Forleo does just that with this 2 step video:
Inbound marketing keeps them coming back for more. By providing honesty, transparency, and proper customer service the consumer will begin to trust and love the brand for its actual value. And with trust and value, there comes sharing. What’s mine is yours, and what’s yours is mine. People like to share news and information about the brands, products, and services they enjoy most.
Word of mouth marketing is one of the most efficient marketing strategies for a few reasons. Brand evangelism does not deplete a marketing budget whatsoever. Because it’s FREE!
So, how can your business organically create a high customer retention rate?
Well, let’s discuss 9 simple inbound marketing best practices—creating a successful customer retention strategy for your business:
- Always have established processes and organization strategies in place. From automated lead nurturing workflows to content marketing plan, make sure that you have processes in place in order to create alignment between you, your team, and your audience.
- Provide value in an easy-to-consume format. All of the information and content you provide should be organized in a manner that is easy to digest and understand by you and your team first, and then secondly, by your audience. If you and your team don’t understand what you’re saying, then neither will your audience.
- Set firm brand style guides to create a seamless tone, style and voice within your business as well as help boost brand recognition. Establishing a style guide early on will save time, money, and resources. When you have established brand awareness, it is much easier for customers to discuss and understand your brand with their peers—providing an environment for brand growth within and outside your target audience.
- Create content that is easy to navigate and provides direction along the path of the buyer’s journey. Every piece of content you create should reflect each stage of the buyer’s journey—reflecting the different members of your audience.
- Always be clear and concise. From your brand messaging to your content, always be clear and concise to your audience so that they know upfront what your brand is all about.
- Offer premium customer service. Surpass courtesy expectations. Go above and beyond for your customers in every stage of the the buyer’s journey. Especially if they are a repeat customer, your customer service should not wane just because they are currently in your client pool.
- Create a customer behavior analysis process. You should have clear insight on:
- The number of active customers
- How your active customer count has changed over time
- Which customers are still involved actively in the customer lifecycle
- How much longer they will be involved in that customer lifecycle
- The amount of money they are expected to spend with your business, i.e., the overall lifetime value
- Set your service excellence standards. Implement tangible differences in how your business renders services and handles customer care issues against your competitors.
- Increase the value of each customer by continuing product development and user experience development. Use analytic tools to make your business better for all persons involved with growing your brand.
There are many ways to boost customer retention rates within your business, startup or nonprofit. Developing and implementing customer retention strategies with inbound marketing best practices will not only increase your return on investment, but it will establish thought leadership and will encourage word of mouth marketing for your business. Be your brand for your community! Because when you have your customers back first, they’ll be sure to give you theirs.
As you go about creating new customer engagement programs and direct marketing packages for your brand, look for opportunities to give rather than to get. Whoever makes the first kind gesture, as studies show, tends to gain the most.—Jeanette McMurtry
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