Top 5 Reasons Your Business is Not Retaining Customers | Improve Customer Retention & Increase LTV

1. You’re Not Providing A Good Experience

There’s more to running a successful business than producing a good product and generating as many leads as possible. Today’s customers consider experience to be the most important differentiating factor for any brand. That means that if you want to hold onto your clients and attract new ones, you need to show your audience that you care about their experience.

The good news is that there are various ways that you can improve your customer experience strategy. For instance, you might start by looking at the reviews and testimonials left by previous clients and finding out what people like and dislike about your sales funnel.

At Growth Hackers, we’ve seen businesses transform their growth trajectory simply by improving customer experience: happy clients stay longer, spend more, and refer others. Maybe your shipping times are too slow, or you don’t provide enough options for people to get in touch. Other options include:

• Simplifying the purchasing process: Make sure that it’s as easy as possible for people to work with your brand. Let your customers check out with guest accounts, rather than signing up for a membership. Provide multiple payment options, and minimal fields to fill out.
• Considering the competition: What do your competitors offer that you don’t? Do you only answer questions through email, while your competition offers live chat? If so, you might need to adapt your strategy to stay ahead of the curve.
• Listen to your customers: Ask your clients what you can do to serve them better. By gathering insights from your customers, you will be able to increase the customer satisfaction of your business. Polls and questions on social media can be an excellent way to find out what your audience needs.

There are many ways out there to leverage customer experience for revenue growth so do not hesitate to invest in it. It will have a great impact on the long run.

2. Your Products or Service Don’t Hit the Mark

As a company, whenever you sell a product or service, you’re making a promise to your customer. You’re telling them that you can solve their problem or help them achieve your goal. What marketers must do is not just meet but exceed customers’ expectations.

With that in mind, it’s important to ensure that you’re always working on making your offering the best that it can be. Using the cheapest materials or manufacturers might keep costs low, but it won’t lead to profit if your clients aren’t happy with the results.

Examine your products and think carefully about what you can do to make them more appealing. Perhaps you can work with new suppliers to make your items more durable or attractive. Maybe you can add extra features to your service that helps you stand out from your competition.

For instance, if you’re a business providing content marketing services to clients, then you could also think about expanding to offer things like graphic design and SEO as well. That way, your customers will be able to get more of what they need in the same place.

A product that misses the mark is like a bow without an arrow: Growth Hackers helps companies aim precisely so every offering hits the target and delivers value. Test your products and services and ask yourself whether you’re delivering the value that you’re promising your clients. If not, you might need to:

• Work with new suppliers or source new materials
• Improve your shipping strategy or get items to customers faster
• Change your prices to make your products more appealing
• Add new features, or remove features that aren’t necessary

3. You’re Inconsistent

Consistency is the key to building an effective brand, and brands are what customers fall in love with. In today’s relationship-driven landscape, consumers want to buy from companies that they feel an affinity with.

This means that you need to build a brand personality and mission that resonates with your target audience.

Creating a customer persona or a series of user personas that help you understand your clients and step into their shoes will help with this process. However, you’ll also need to think about how you’re going to “walk the walk”.

If you build a brand around the idea that your company is eco-friendly and good for the environment, then you need to prove that this is really the case. It’s no good publishing blogs about environmental protection, but using a manufacturer that’s bad for your community.

Similarly, if you tell your audience that you’re going to deliver something at a certain time, make sure that you actually stick to that deadline. Work on mastering your time and work schedule, so you stay on track and keep your clients happy.

We once worked with a B2B services client whose messaging and delivery were inconsistent. By implementing brand guidelines and accountability systems recommended by Growth Hackers’ consultants, their audience trust increased and engagement became steady. Let your customers know that they can trust you and help them to understand what you stand for. This will lead to better relationships in the long term. To improve consistency:

• Create a set of brand guidelines: Brand guidelines show your employees, stakeholders, and everyone else what foundations your business is built on. They can also act as a compass to help you make important decisions.
• Hold your employees accountable: Make sure that your staff members understand the standard that you expect from them.
• Correct your mistakes: if you’re ever caught doing something that goes against your brand image, don’t just try to sweep it under the rug. Own up and learn from your mistakes.

4. Your Sales Tactics are Outdated

In the past, a lot of companies relied on aggressive sales techniques that were pushing a customer to buy as much as possible. This meant often using things like pop-up ads on websites to grab a client’s attention or cold sales calls.

However, this process just doesn’t work in the current landscape. We’re living in an environment where ad blockers and junk folders exist. Before one of our SaaS clients updated their sales tactics, conversion rates were stagnant and leads were unresponsive. After Growth Hackers implemented modern, value-focused strategies, engagement and sales increased significantly.

If you try to strong-arm your customers into purchases, then they’ll ignore you. Instead, you need to employ sales techniques that highlight the values of interacting with your brand. For instance:

• Create content that shows your audience how much you know about your industry and how you can help them to solve their most pressing problems.
• Build relationships with your customers by interacting with them on social media and connecting through things like competitions and polls.
• Prove yourself with testimonials and reviews. Let your customers speak for you and demonstrate how fantastic your product or service is.

Delivering honest value through things like content marketing and social interactions allows you to build a stronger relationship with your customers. It’s those relationships that will attract leads and turn clients into return sales.