Every business loses a proportion of its existing customers over time. This post discusses how to retain existing customers for longer using content marketing.
Levels of service obviously have a major impact on customer retention but perhaps less obvious is the impact of ongoing communication. Research shows that over 60% of existing customers state they move suppliers simply because they either do not feel valued or their supplier does not communicate with them on a regular basis.
Communicating regularly with customers therefore aids retention but it can also increases credibility and customer engagement. Any supplier able to stay ‘ front of mind’ with customers is likely to increase their chances of securing orders ahead of competition.
The challenge then is to decide what to communicate and how it will be delivered. As the target is existing customers it is reasonable to assume that appropriate contact details will be available and permission to communicate will not be refused. An E-Newsletter is often a cheap and effective way to communicate on a regular basis but it is only of value if it links to helpful, engaging content.
An information hub (usually the business website) may be linked to from the Newsletter, point to other resources, raise the business profile and present offers of potential interest to existing customers. Continually adding useful engaging and valuable content to a website will also increase its ranking on the search engines thereby attracting new customers.
Once a ongoing communication process is established information of value and existing material held within the business can be modified and released to benefit customers. Most businesses will employ key people with a valuable view on markets, products or services who could be persuaded to write something of value, perhaps on a monthly basis.
When attempting to retain existing customers high levels of service and ongoing communication are both key to success. However, simply communicating is not enough as it is important to employ best content marketing practice to deliver information that is both useful and engaging. It is important to decide exactly what information is of use to customers before starting the process.
A sample content marketing process can be downloaded here