This post is part of the B2B Retention Handbook series. To explore more challenges and solutions, check out the series here.
With so much to do, it can be hard to balance doing all the things necessary to hit goals from creating awareness, generating demand, creating content, building campaigns, and optimizing based on the data. Honing the data you’re collecting and monitoring can reveal where your team needs to focus.
But it’s not enough to have more data. Teams want to know what to do. Having a system to tell you who needs what and delivering that at the right time will make the biggest improvements in your customers’ experience.
- Bonus: Now you can optimize your customers’ experience and increase retention with customer data, insights, and action
- There may be multiple reasons why your customers churn, but you’re not sure which reasons are most common or most in need of improvement. It may seem impossible to predict retention and churn and to pay more attention to accounts at risk. Are there hidden patterns or behaviors related to customer accounts that can serve as key indicators of customer retention, and how can you leverage them?
- A data-driven, analytical approach to evaluate customer retention involves collecting the right data, measuring the right KPIs (see You're not sure if you have a retention problem), and setting up a process for your Customer Success team to monitor customer health and customer loyalty and seek help from Sales and Marketing to shore up customer engagement and satisfaction.
- Implement a system to collect and match customer data from a variety of engagements and transactions including - Your Guide To Customer Data Management | Treasure Data
- Account sign-ups, free trials
- Team registrations
- Product utilization
- Purchases and upgrades
- Sales engagements
- Customer success engagements
- Marketing engagements
- Analyze the data in a variety of ways to evaluate retention and apply data-driven insights. – Top 6 Metrics to Measure Customer Loyalty | Capillary
- Retention probability score
- Accounts at risk
- Most common churn issues
- Customer success
- Customer loyalty
- Engage or start a customer advocacy program to improve customer experience, product value, and individual relationships with customers. – 4 (Now 6) Ways To Strengthen Your Customer Retention Strategy With Advocacy Marketing | Social Toaster
Bonus: Now you can optimize your customers’ experience and increase retention with customer data, insights, and action
What if every person on your customer-facing teams could get the information they need to help your customers succeed in seconds and apply that knowledge to deliver exactly what customers want or need at the moment? That’s the definition of an outstanding customer experience and the foundation for a long, trusted relationship. The question is, how?
Klearly delivers on that promise by collecting and unifying all of the relevant customer data, making it available to any team member, and providing valuable insights that can help your teams respond quickly and accurately to any situation. Knowing who to target, what to do, and why it matters is a recipe for retaining and growing customer accounts and for creating brand loyalty.