With 2023 on the horizon, the chatter of a recession, and a marked increase in reports of poor client retention, it’s more important than ever that B2B marketers focus on retaining reliable clients. Aside from increasing lead generation efforts, ensuring client satisfaction is vital to keeping your business profitable.
No one likes losing customers, but it does happen. And when it does, many business leaders start racking their brains, polling their teams, and trying to figure out where things went wrong. There’s not always going to be a cut-and-dry reason that a client leaves. But when customer retention poses a threat for an ongoing issue, a few strategies can help you hold on to patrons, keeping your business on a successful track for the year ahead. Here are key customer retention strategies your business should consider for 2023.
Deliver a Thoughtful Onboarding Experience
Remember, a client’s journey doesn’t stop when they sign a contract. You must continue providing support and value throughout your relationship. Onboarding is the first chance for your team to deliver and delight through communication, videos, guides, and emails that welcome new customers, offer value, and create a strong foundation with your team, products, and services. Take this further and personalize the onboarding process and content to help bolster customer retention, which leads to the next strategy…
Personalize, Personalize, Personalize
Your customers will likely be very different from one another, and more than likely have different needs. A basic one-size-fits-all approach will ensure some customers fall through the cracks. People want solutions and experiences tailored to their needs, scale, timeline, and preferences. Personalization ensures relevance for the client now and flexibility in the future. This will help them address the problems they enlisted your business to resolve, which boosts customer retention because you’re proving to be attentive for the long haul.
Build (& Maintain) Trust
Trust is a hard thing to come by. It takes time and effort to build trust. And just because your client signed a contract, doesn’t mean trust is a guarantee. You must stick to your brand promises and remain reliable throughout the relationship. If you consistently deliver, trust will follow. If you fail to do so or constantly change your brand, you’ll naturally lose trust with existing customers and stall trust-building with prospects. Consistency and reliability are critical: stick to them!
Provide High-Quality Content
Did you know that providing high-value, educational content is one of the best ways to improve your Google ranking? It’s true. Google knows the value of relevant content, and so do your customers. You can become a knowledgeable resource when you provide valuable and engaging content, like eBooks, whitepapers, and informative blogs. This builds the trust mentioned above and helps your business stand out. Educational content is helpful content. It can boost your position as a thought leader and add to your customer’s impression of your credibility, insight, and usefulness—all of which can increase customer retention.
Show Your Appreciation
Who doesn’t like to feel appreciated? You’re building a stronger relationship with clients by going out of your way to show your appreciation. Sending a gift, exclusive benefit, limited offer, or even a hand-written thank you note can go a long way. Customers don’t forget when you surprise them with kind words or attentive offers. Showing appreciation further separates you from a careless competitor, builds rapport with clients, and makes them feel confident about your relationship.
Monitor Client Satisfaction
Monitoring client satisfaction is straightforward but challenging. Stay engaged with clients through monthly or quarterly touchpoints to gauge satisfaction levels. You’ll learn directly what they’re happy with and what needs to be improved. There are several ways to monitor feedback, including surveys or focus groups, online reviews, and general communication. Once you know client likes and dislikes, you can apply that data to immediate issue resolution, improving processes, products, and other business areas. And you’ll be able to show your clients you value their opinions and ongoing success, encouraging greater customer retention.
Making Customer Retention a Priority in 2023
Marketers have been reporting lower customer retention rates over the last year. Don’t wait until after you start losing customers to make satisfaction and retention a priority! Leverage these strategies today, and you’ll be ahead of the game in 2023 (with a suit of armor when facing outside financial pressures).
If you’d like more information about improving your B2B marketing efforts, contact Sagefrog today.