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Discover Your Customers’ Questions for Greater Retention

Marketing Strategy

Jan 08, 2020

QuestionYour customers have questions, but do you have the answers? You’ll never know if you don’t ask, and not knowing can lead to customer churn, revenue dips, and your competitors capturing some of your market share. Shrewd integrated marketers know that you will never really know what your customers are thinking if you don’t do a little digging.

SmartInsights has put together an extensive strategy guide for opening the lines of communication with your customers, including data acquisition and review and leveraging available technologies to find where gaps exist and how to bridge them for effective customer retention.
 

Discover What Customers are Already Asking

We’ve all heard the statistic that “acquiring a new customer is anywhere from five to 25 times more expensive than retaining an existing one.” So, holding on to your current customers is critical to your business success.

Start by talking with your customer service representatives (CSRs). These are the people who talk with your customers every day and are the first stop when customers have questions. Take some time to get their insights into the customer complaints and issues they hear about, what they feel are the most frequently recurring, what they think the highest priority items are, and how fixing these issues will improve customer satisfaction.
 

Analyze Your Data

For an even deeper dive into this type of information, analyze your phone and chat logs to find common themes and how they are being managed. Likewise, dig into your web analytics: what are customers searching for? Are they finding it? If customers are abandoning carts or bouncing off pages, drill down to see if you can discover why.

Consider using automated tools like text analysis to categorize customer data from across social media, surveys, product reviews, etc. Machine learning may help you more quickly identify if anything is going wrong in your customer relationships.

Employ Predictive Analytics Tools

Go beyond addressing your customers’ questions and anticipate them. Integrated marketers don’t need to be mind readers, they just need to use predictive apps or algorithms that review existing data and make predictions for future customer actions, such as the likelihood of future purchases, top questions/concerns, overall brand satisfaction, and issue resolution.

Talk to Your Prospects

Once you’ve looked into your existing customers, you can begin to talk to your prospects. Use simple one-question polls or chats (or chatbots) to help you get quick answers to questions that will help you make sure that you are on track: What are they looking for? Is there anything you can help them find? Ideally, tailor the questions to coincide with the actions being taken by the prospect—are they hanging out on the homepage? Are they spending a lot of time on a particular product page? Is their cart sitting, abandoned, while they continue to browse?

Keep the Door Open

Asking your prospects and customers questions, and letting them know that you want to engage directly with them, will encourage further questions. This continued engagement can uncover any remaining issues or convince your audience of your genuine interest in their needs. As you continue to improve your communications, you should see subsequent conversion and retention numbers. Happy customers who feel that they are receiving the attention they need won’t feel the need to move on to the next company selling a similar product or service.

Practice this same level of attentiveness in all of your customer and prospective touchpoints. Your transparency and willingness to listen to customers will inspire them to show the same level of openness with you. And if ever you find that your retention numbers are slipping, you have the formula to nip any potential damage in the bud: repeat the above and dig into the data, use any relevant technological aids, and talk with your prospects and customers. This retention strategy will keep you far ahead of your competitors.

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