Why You Should Obsess Over Retaining Current Customers

Written by Heather Mueller on February 6, 2015

Posted in Lead Generation

It’s a common scenario: You come across a special offer from one of your favorite brands. It’s a great deal. You get excited. But when you try to take advantage of it you get a message like this:

Sorry, but existing customers do not qualify for this offer.

Ouch. Not exactly a resounding “thank you for being a loyal customer” message!

Many companies expend so many resources on lead-generating tools  and tactics that there’s little left in the budget for customer retention strategies. Existing customers then receive campaigns intended to capture new leads. Before you realize what’s happening, your loyal audience is unsubscribing, ignoring ads, and moving on to your competitors willing to offer them “new customer” perks.

Time to give your customers some love! It’s almost always cheaper, easier, and more effective to retain or recapture existing customers than it is to acquire new ones. And with a comprehensive form-building tool, optimizing your customer conversion rate can be a profitable investment.

Here are a few cost-efficient ideas you can use to get started. Try them out one at a time with an eye on conversion rates to see what really resonates:

Segment current customers.
Does your company maintain a separate email list for current customers? It should. This is the first step to creating meaningful messages and measuring your customer conversion rate. It’s easy to automate the process if you use one of Formstack’s email integrations. Just set up your forms so prospects are added to your client list when they first buy, subscribe, donate, or complete any other action that qualifies them to be your customers.

Test strategies to bring them back.
Sometimes even clients that love you just (sadly) forget about you. It could be that they let a subscription renewal lapse or made one big purchase and never returned. Try out different incentives to convince them to come back.

You might start with a personalized letter from your CEO describing the company’s latest and greatest changes. Or a “welcome back” email offer. A/B test different forms, subject lines, and content to see what gets the most opens, clicks and conversions.

Give the gift of optimized landing pages.
Landing pages are filled with opportunities for ROI. Why not tweak the ones designed for your existing customers? Thank-you pages are a great place to start since it’s where people are directed the moment they convert.

After someone buys, offer a heartfelt thanks and invite them to subscribe to your weekly emails. When they register for a webinar, send them to a page where they can be polled on topics they want to learn about. Then, compare your form conversion rates for these pages to determine what drives customer engagement.

Yes, it’s important to know the value of a lead and make new friends. But you should keep the old ones, too. With so many opportunities to personalize marketing, it’s wise to invest in strategies that will open doors to more meaningful (and profitable!) customer engagement.