Not many businesses are putting enough effort to build customer loyalty. The probability of selling to an existing customer is as high as 70%. Shockingly, many businesses seem to overlook this fact, with only 18% of them focusing on customer retention. As a result, customer churn is costing U.S. businesses a staggering $140 billion each year.
It’s hard to fathom since retaining a customer costs 5 – 10 times less than getting a new one.
The good news is, you don’t have to contribute to this alarming statistic. Retaining customers can be achieved at a fraction of the cost of acquiring new ones, and one of the most effective ways to do so is through content optimization.
In this article, we’ll dive into the strategies and tactics you can use to leverage content and build a strong customer base that will help you achieve sustainable business success.
How to use content to build customer loyalty and increase customer retention rates
While it’s common for B2B companies to focus on optimizing blog content to attract new customers, there’s a missed opportunity to use content to foster loyalty among existing customers. Follow this roadmap to help:
1. Communicate your company values
Shared values are the cornerstone of a loyal relationship, whether between people or businesses. It’s like finding a soulmate – the parties involved need to feel a deep connection and understanding.
Start by defining the core values of your B2B company and communicate them clearly to both your existing and potential customers through compelling blog articles and your unique value proposition.
Interestingly, a study by Edelman found that two-thirds of customers base their purchasing decisions on shared beliefs with the company. You’ll be laying the foundation to truly build customer loyalty that lasts.
2. Build content around customer data
Data is crucial if you want to build customer loyalty. According to an article in MIT Technology Review, businesses only use a tiny fraction of the data they collect from customers.
Why go through the effort of gathering so much data if you’re not going to take advantage of it?
Armed with this knowledge, you can create content that speaks directly to each customer, offering solutions to their unique challenges.
But it’s not just about the content itself – it’s also about the delivery. By using data to understand how customers prefer to interact with your brand, businesses can deliver content through the channels and platforms that are most effective for each individual.
Whether it’s social media, email marketing, or even good old-fashioned direct mail, the key is to use data to create a seamless customer journey.
Worth reading: Product-Focused Blogging Vs. Customer-Focused Blogging
3. Email marketing with a touch of empathy
Email marketing trumps basic content marketing by a significant margin of 56% to 35% in terms of customer retention effectiveness. This statistic is a game-changer when you strategically combine email marketing with content marketing.
Empathy in email marketing means treating your customers like real people, not just email addresses in a database.
By showing that you genuinely care about their well-being and are invested in their success, you can create a relationship that transcends transactional exchanges and leads to long-term customer loyalty.
This article will help: Create An Unforgettable B2B Newsletter: 7 Tips For Engaging Your Clients
4. Personalize user-experiences
A study conducted by Growth Segment revealed 71% of customers get disappointed with impersonal user experiences. 44% of the 1000 subjects are more likely to become returning customers when their user encounters are more personal.
Customers are no longer satisfied with a one-size-fits-all approach. They can tell when they’re being fed canned responses or generic recommendations – and they’re not likely to be impressed.
But personalization isn’t just about making individual customers feel valued – it’s also about creating a sense of community and belonging among your entire customer base.
This could include anything from personalized product recommendations based on past purchases, and custom pricing plans that reflect the unique needs of each customer, to interactive content that creates a sense of ownership and investment in your brand.
And the benefits of personalization go far beyond increased customer loyalty by up to 15% revenue lift.
5. Show social proof with user-generated content (UGC)
Rather than spending countless hours creating and curating content yourself, you can rely on your customers to do it for you.
One of the biggest benefits of UGC is that it’s authentic and much more compelling than any marketing message you could create on your own.
And when existing customers see their content being shared by a brand they love, it reinforces their connection and encourages them to continue engaging with the company.
6. Interact with your clients on social media
Content optimization is not restricted to blog articles and emails. Social media marketing is the go-to for 28% of marketers who intend to retain customers.
The reason why social media is effective is that it provides an opportunity for you to get feedback on certain topics that are related to your services.
Existing customers will likely interact with your posts and express how they truly feel. You can then take this information, use it to improve your products and services, and ensure that you continually meet customers’ expectations.
7. Create a customer loyalty program
58% of customers belonging to a given customer loyalty program buy from their revered brand, at least once a month.
By setting up a points-based system, you can incentivize your loyal customers to keep coming back for more. Each purchase or service usage earns them points that they can redeem for exclusive rewards, making them feel appreciated and recognized for their loyalty.
This, in turn, reduces your attrition rate and cultivates long-term relationships with your customers. It’s a win-win situation for everyone!
8. Improve your customer service experience
When it comes to customer satisfaction, the numbers don’t lie. A whopping 77% of satisfied customers will go out of their way to recommend a company to their friends and family.
Having a seamless online platform is crucial, but that’s only half the battle. You need to go above and beyond with your customer service.
Think about it – even the most streamlined website can still leave some visitors feeling confused or frustrated. That’s why it’s essential to have a team of experts on hand to provide quick, effective solutions to any problems that may arise.
Your customer service team should be easily accessible and highly responsive, with a knack for resolving issues with speed and efficiency.
By prioritizing the customer experience at every touchpoint, you’ll create a brand that customers can’t wait to rave about to their nearest and dearest.
No matter how much effort you put into building customer loyalty, there will always be some who will drift away from your business. But what if you could keep your customer attrition rate as close to zero as possible?
With the techniques outlined in this article, it’s possible to achieve such results. However, mastering these methods can be a bit laborious, which is where professional services come in handy.
Fortunately, we boast a team of talented content marketers with specialties in delivering high customer retention through excellent experience. You can join our weekly newsletter to equip yourself with first-hand knowledge of how we do it.