Customer retention is priceless for every business out there, whether a brick or mortar store or an online company. When you sell your products and services to loyal customers, you will have a consistent cash flow.
Moreover, they will advocate your brand over time and bring in more clients, increasing your revenue even further. In fact, according to a Harvard Business Review research, companies can boost their profits by 95 percent if they increase their customer retention rate by 5 percent. Now, that is an excellent return for such a slight increase.
However, to achieve such a level of profit increase, you need to create and incorporate strategies that allow you to increase your customer retention rates tenfold. That said, good customer retention strategies alone will never achieve the results you are after.
You will have to complement them with customer retention tools that allow for the effective implementation of such techniques. With that in mind, let us look at some customer retention tools that you can utilize to serve your clients better.
The power of content creation is more potent than you think. It is where ebooks step in as a vital tool for improving your customer retention rates. But, you might ask, how? Ebooks will allow you to attract new customers and retain existing ones through the power of your content.
That said, you can easily repurpose your old content and turn it into great ebooks via various tools. If you don’t know how to make an ebook, go online and search for the term’ ebook creator ‘, and you will be greeted will thousands of options.
Suppose you think that creating high-quality, readable ebooks is easier said than done. After all, it is not for the love of reading that your customers will download ebooks.
It is to attract them via your content. An easy strategy is to offer your customers free ‘how to’ ebooks in exchange for subscription customers can sign up for or a newsletter they can subscribe to.
After that, it is all about going with one that fits your requirements and budget. So, Give ebooks a try; it will help build trust and create loyalty to your brand.
ProProfs Knowledge Base
When it comes to providing instant and effective customer service, there is no better tool than a ProProfs Knowledge Base. After all, customers are becoming impatient day by day and want quick access to information.
In fact, when most of them face a challenge finding solutions for their problems, 40 percent of them consider doing them on their own.
Simple yet powerful, ProProfs Knowledge Base consists of settings, integrations, and intelligent features that allow you to build a self-help knowledge base, help site, manuals, documentation, and much more. Keeping that in mind, you can leverage this tool to develop a centralized platform that your clients can access to search for solutions to their problems.
Moreover, your support staff can respond to customer’s calls while searching for information on the platform. The essential subscription is 48 dollars per month. The premium subscription is 80 dollars per month. For the enterprise pricing, you will have to ask for a quotation.
If customer retention is your primary business goal, look no further than Yotpo. This customer retention tool enables you to drive more conversion, showcase client-related content on your website, and collect customer reviews.
Moreover, it also allows you to develop referral programs and give out customized rewards to existing and new customers.
Furthermore, you can also utilize videos and photos of your existing clients and place them on your website. This strategy is perfect if your goal is to engage your current clients and drive them to purchase your products.
In addition, Yotpo offers features that include multiple campaign choices, multi-channel support, multiple sharing options, flexible reward structure, tier-based referral programs, and much more. You can create a free account with Yotpo to access every feature possible.
That said, consider signing up for their premium subscriptions, which start at 19 dollars per month.
If you’re looking to retain existing clients, you must first understand them. That said, any customer will experience a period of dissatisfaction before they take their business elsewhere. So, understanding the issues that your clients are unhappy with is what you need to provide them the customer experience they want. And to do that, Qualaroo will be of immense help.
This tool allows you to create surveys and place them on your website to gather and analyze client feedback. Moreover, it also enables you to nudge website visitors at the right time, track them in real-time, and target particular clients—all without hindering their website browsing experience.
Furthermore, Qualaroo’s AI-backed sentiment analysis feature can track keywords and mood metrics, allowing you to analyze client feedback more efficiently. You can try Qualaroo free for 15 days. However, if you want to know their pricing plans, you can always visit their website for more information.
In the end, customer retention is all about providing your clients with pleasant customer experiences throughout the entire purchase process. Payment and billing are essential aspects of the client’s purchase journey.
So, to retain customers, you must provide them with a seamless billing and payment system to build loyalty with your brand and keep them close; therefore, if you are on the hunt for a tool that provides you with an ideal online payment management system, look no further than Chargify.
It allows you to automate your quote-to-cash process, offers various payment gateway options, manages subscriptions, and much more. Other features include; event-based billing, user access controls, customizable signup pages, automated billing logic, and much more.
Moreover, subscription starts at 149 dollars per month for new businesses and startups. So, give it a go if your clients are happy with your payment system because the investment will be worthwhile for the long run.
Customer retention is challenging, especially for new businesses and startups. That said, with the help of the customer retention tools mentioned above, you can provide your clients with excellent customer experiences and develop genuine relationships with them.
In the end, these tools vary in cost. Some are expensive, while some are free. However, your company will benefit from returning clients if you decide to spend your money in the right place.