23 June 2020Blog
Customer retention is an art. It requires strategic maneuvering and the ability to create a strong bond with your audience. Establishing yourself as a trustworthy brand means creating a product that speaks for itself. Which in turn means, they’ll be coming back for more of what you have to offer.
And that is the main reason why customer retention is crucial in running and maintaining a successful business. I’m here to let you in on a small secret. Video is going to be the form of content we’ll be using for the sake of this article. Why? Because it’s effective and it will revolutionize your customer retention strategy!
You’ve heard the term before, “a warm welcome goes a long way”. That’s because it’s true! Give your customers a welcome they won’t forget with an effective onboarding program (More on that here: How to Utilize Video Onboarding for your Business ).
97% of people think video is an effective tool to welcome and educate new customersSource: Wyzowl
There are a lot of reasons why the onboarding process is beneficial to your business strategy and boosts customer retention. There are many ways in which the onboarding process can be experienced and I’ve outlined a lot of neat ones with the article above. Ultimately, through onboarding you build strong relationships with your customers. Opening channels of communication and building confidence throughout your audience. What does that mean? They’ll be coming back, because you’re a brand that’s established themselves through a successful onboarding strategy.
Employees are 75% more likely to watch a video than to read documentsSource: Panopto
Which brings us to Video and why it takes the cake with onboarding. They’re visual and people are visual learners. Statistically speaking consumers simply prefer dynamic content. Additionally, with video you naturally have control over the entire experience of the customers journey. But the best part about onboarding with video? If used properly, they take the pressure off of your customer service team! With proper videos that help the customer understand your product, it means there’s a less chance people will contact you to ask what you’re all about!
Building off of the onboarding point, building trust is crucial to maintaining and growing a business. There are many ways to do this with video. To start off, customer testimonials go a long way because let’s face it, is there any more trustworthy than an actual person who’s experienced your product first hand? Seeing is believing is how it goes, right? Actually seeing the person go into detail about the wonders of your product is far more convincing than a piece of text.
If you get a chance, try to gather as many testimonials as possible and even create a playlist on your YouTube channel to direct people towards. Additionally, if we’re in the subject of brand trust, why not create engaging videos about your business to keep your audience in the loop? And by that I mean videos pertaining to upcoming products, and changes that you’re working on. This will not only create transparency within your brand but establish the fact that you’re always growing and improving upon your business!
This one’s big. Frankly speaking, personalization has become the make it or break it factor for businesses in today’s digital age. It is one of the most crucial keys to a successful retention strategy and here’s why.
98% of marketers see personalization helps advance customer relationshipsSource: Evergage
Effective personalization, preferably of the video kind, takes some fine tuning but there’s on thing we know, it works. As with everything, customers will come and go but it’s the strength of your personalization that could be the difference in retaining them or letting them go. Take chances, test out your efforts and apply something new to your business strategy with personalization.
For the purposes of this article we’ll keep this section short and expand on a lot of ways you can apply more personalization within your marketing strategy here .
Your secret weapon
This is the part where most brands tend to panic. Video production usually means high costs right? It doesn’t have to be that way. While you’re reconfiguring your customer retention strategy, it’s important to consider a decent video production platform.
An all-in-one video editor to help you start creating stunning, high-quality video content! You’ve got something special here and it’s time you make use of it. A lot of businesses these days make the excuse that they just don’t have the time to create any content. What if I were to tell that you could be making the videos of your dreams in less than 2 minutes in some cases?
Whether you’re a travel agency, or e-commerce and beyond, we’ve got you covered. Hundreds of templates to get you started. The ability to make your videos interactive (yes! : Use Interactive Video to Grow ROI and Drive Sales) is an option as well. Start investing in your business future with video, it’s not going anywhere and it’s only getting more popular. Free to start!
We’re all on it. Whatever favorite social media channel you’re on, they’re an incredibly powerful marketing tool to help you build that customer base. Posting quality videos helps you connect and reach customers while at the same time providing them with an experience they won’t forget.
Building a relationship with your audience is essential and social media is the place to start. Engage your audience! Interact with topics that benefit your brand! Most importantly, create content ( See also: Video and Social Media ) that will attract and keep customers coming back to you!
Relationships are a two way street as they say. Communicate with your audience and let them be heard. Luckily for you, you’ve got countless of social media channels to get the job done!
It looks like we’ve learned a valuable thing here. What’s an effective way to boost your customer retention? By strengthening your digital marketing strategy with video! That’s right. I’ve listed a few strategies you can apply, including personalization, to get you going but it’s not always guaranteed to yield results overnight. Patience is key here and why not A/B test a few of your ideas?
Don’t fall for the old idea that it’s all about customer acquisition. What does acquisition really mean when nobody is sticking around? The bottom line is, customer retention is just as important if not more. With the amount of product choices in 2020, it’s far easier for customers to leave a brand. Video helps you keep your current customers engaged and your future customers interested. You’ll need to invest more time into content, that’s true but I’ve provided you with the necessary to tools to get a head start. So get out there and start creating!