Getting a new customer is five times more expensive than maintaining an existing one, according to a survey conducted by Invesp.
Despite this, many businesses still make the mistake of focusing too much on generating leads and forgetting to nurture their relationships with their existing customers.
That results in businesses losing about 10% to 25% of their customer base per year and missing out on more than $1.6 trillion from losing customers to a competitor.
This is why you need to put in as much attention and effort retaining customers as you do generate new ones.
Moreover, selling to existing customers has a success rate of 60% to 70%, while the success rate of selling to prospects is only 5% to 20%.
According to RjMetrics, repeat customers also tend to spend 300% more compared to new clients.
This just proves that selling to your existing customers is not only easier but also more profitable. So, it’s just reasonable to invest in tech that can help boost your customer retention strategies
In this article, we will discuss the most effective and widely used customer retention strategies you can use today, and how to strengthen these plans of action with Salesforce Customer Data.
Combine Your Software Systems in One Centralized Database
Combining all of your software systems in one centralized database allows you and the different departments in your company to view customer data quickly.
After attending events or business meetings, you can scan all the business cards you’ve gathered and upload them to your Salesforce Customer Data. This allows your sales team to be able to access information with regards to which leads to add to your campaign.
Having a centralized database also allows you to be on the same page with the different teams in your company. This helps eliminate any misunderstanding and allows team members to be more efficient and effective in their respective tasks.
For example, a customer complains that the product he recently purchased from you was faulty. Through CDP, your customer service team can view that person’s purchase history and understand right away what that customer is complaining about.
Your customer service team can then decide the best way to respond to this complaint and take action. This will not only impress your customer with your prompt service, but it will also keep them happy and loyal to your brand.
But why is this so important? According to a survey conducted by Microsoft, 56% of people worldwide have stopped doing business with a company because of bad customer service.
On the other hand, 52% of consumers said they made a purchase again from a company after a good customer service experience.
Reconnect with Your Inactive Subscribers
Salesforce Customer Data provides you essential information about your customers.
You can use this data to provide better service, improve your marketing strategies, and enhance your products or services, which you can use to keep your customers happy, satisfied, and loyal to your brand.
Moreover, you can use Salesforce Analytics to identify your inactive subscribers and re-engage with them. It enables you to see when an inactive customer last interacted with your business, as well as their last transaction.
It also allows you to gain insights into the possible reason why they stopped engaging with your brand.
You can use this information to somewhat pick up from where you last left off and email them promos, offers, giveaways, and other gimmicks that will motivate them to get in touch again with your company.
Personalize Your Interaction with Your Customers
Thanks to CDP, you can easily personalize your interactions with your audience.
It provides data that you can use to further segment your customer base into groups. And then based on the information in the system, you can determine their future purchasing trends, create more targeted emails, promos, product bundles, messaging, and visuals that each of the groups will likely respond to.
This can make them feel special, valued, and that you know them very well.
According to research conducted by New Epsilon, 80% of consumers are more likely to purchase from a brand when they offer a more personalized shopping experience.
You can use CDP to micro-segment your customer base so you can provide them a more personalized experience by emailing them relevant product suggestions and recommendations, product bundles, exclusive promos, and more based on their purchase history.
Then, you can integrate Salesforce into your marketing email system and have it send out relevant emails to your subscribers.
Use Social Media to Connect with Your Customerbase on a Deeper Level
Your social presence plays an important role in humanizing your brand. It helps you become more engaging and relatable to your audience, which is essential for building a deeper connection with your followers.
By personally engaging with your customers on social media, you can understand them better and you can make your brand feel trustworthy and extremely reachable and accessible.
Salesforce offers Social Customer Service, which provides tools you can use to manage your social channels.
Whenever a customer reaches out to you on social media, you can easily provide customer support by answering their questions, provide guidance, and address complaints via social media.
You can also use social media to update your customers with what’s happening in your business; if there are any events they should look forward to, product launch, etc.
Salesforce also allows you to view customer profiles in your dashboard so that you can add a personal touch to your social interactions with each of your customers.
Track Customer Activity
Tracking customer activity is important because it helps you understand your customers’ behaviors, their journey from becoming aware of your brand to finally purchasing your products or services, and how you can turn them into repeat buyers and loyal customers.
You can use Salesforce Customer Data to view and track your customer activities and engage with them accordingly.
Based on this information, you can send them promotional emails and put relevant ads in front of them based on their engagement before.
It’s a great way to gain insights into how you can get your customers to buy from you again, prevent them from feeling disconnected, and how you can stay relevant.
Keep Your Customers Informed
You can use Salesforce Customer Data to keep your customers informed about any upcoming event or promo they’ll likely respond to.
For example, you have a group of customers who repetitively buys your facial wash. You can send them an email, text, or push notification whenever you have a promo for that specific product that they like.
Sending targeted emails or texts containing promos that are tailored to their needs and wants can help boost your sales and customer satisfaction.
You can also use Salesforce to automatically notify your customers about any delayed payments, delays in service, or other important announcements.
Keeping your customer informed and updated is a great way to make them feel like an important part of your business.
Run Surveys for Customer Feedback
Salesforce surveys are a great way to know your customers better, what they like about your products or services, their dislikes, and what will make them remain loyal to your brand or what will get them to leave.
Having this information allows you to give your customer what they want, improve your quality of service, and keep your customers happy.
You can display these surveys on your social media pages, email, or on your website.
What’s great about using the Salesforce survey is that it allows you to gather and analyze data and create different reports with it.
Nowadays, your customers expect you to have a deep understanding of their preferences, provide personalized experiences, and urge fast service.
Fortunately, Salesforce Customer Data can help you achieve all of these so you can keep your customer happy, satisfied, and loyal to your business this 2021!
At Scan to Salesforce, we provide solutions that can help your small business become more efficient and effective at customer generation and retention. Contact us to know how we can help you retain customers!