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Startup Management Tips to Strengthen Customer Retention

May 12, 2020 / By Lewis Robinson

With the explosion of the Internet into society, new ways of marketing and advertising have created incredible opportunities, such as email campaigns, Youtube ads, and social media influences. In other words, getting information out to potential clients globally had never been easier. While the connectedness of the world through the Internet is a great thing for marketing, there is another aspect, the other side of the coin, so to speak, that needs to be addressed. This underrepresented aspect of building a successful business is customer retention. In other words, how do you keep customers coming back to buy items? Below are some ideas on how to retain customers as a startup business.

MMG Growth SystemShift Your Focus
Here we must understand the idea to “shift your focus.” As Siu explains, often, businesses are so focused on an acquisition that they neglect retention. This is a grave mistake. Instead of focusing only on every potential client, whether loyal or not, a startup should also focus on those customers who are loyal and could potentially be lifetime customers. Making sure that these customers feel treated well and are considered important can be a huge step in making sure that you retain them. While looking to expand your business is a good thing, doing so to the exclusion of keeping the customers you have is not.

Get Feedback
This seems like a fairly obvious point, but it is essential in retaining customers. As Totka explains in the article, receiving feedback can be a great way to ensure that customers stay with your business. There are several reasons for this. First, by allowing customers to give feedback, you enable them to feel heard, and thus feel a sense of importance in their relationship to the company, by using CRM data you can allow your customers to get personal feedback quickly.

The second reason is that customers can give insightful feedback that can help your company grow and perhaps correct some unseen errors, whether in its products or services. One way to implement a feedback system is by creating a customer satisfaction survey that clients can fill out. Another, suggested by Totka, is by simply calling clients, especially if there has been a lack of business between the two of you for some time.

Tailor Marketing Using Technology
This tip is also linked to the previous point. By collecting data on customers, you can begin to develop customized marketing that will interest them. Now, thanks to advances in technology, businesses are able to better track how their customers interact with their business online through a variety of rubrics. By using this data, companies can then tailor advertisements and marketing to what the individual customer is searching for or is interested in.

As Jao explains, this can be a great way to keep customers coming back to your business. By knowing your customer better, you are better able to serve them on a more individual basis, which tends to create loyalty in customers. As a startup trying to build a customer base, using personalized marketing can be a great way to build up that base and help create loyal customers. Another way to increase traffic and get your business more well known is through SEO backlinks. Consider investing in backlinks to increase your website traffic and strengthen customer loyalty.

In the end, building a startup from scratch can be a difficult proposition. There are plenty of larger companies out there that are vying for the attention of your potential customers. Anything that can give you an edge in a competitive market is something that should be considered and, if possible, implemented. While marketing and driving up sales is necessary and can be a great way to build your company, neglecting the very base that you are trying to build as a business is not a good long-term strategy.

While fostering loyalty in customers may not seem to be the attractive thing to do as a dynamic startup, it may be just the edge that can set you apart from the competition, as well as providing more consistent profit for your business. Hopefully, the tips and suggestions above can help your business shift its focus and help increase customer retention.

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