Top tips for customer retention
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The following tips were compiled from a real-life case retention programme created by a top London agency for a major telecoms client:
- Think mid or long-term programmes - not ad-hoc campaigns
- “Moments Of Truth” work: Contract periods and bills are proven marketing events or moments of truth
- Multi-contact strategies work: Don’t be worried about multiple contact, as long as the message is relevant.
- Early life programme stimulates engagement: The first three months is a big opportunity and proven successful touch points to engage customers
- Be prepared to give something back: Value exchange is important, especially in the re-sign process
- Campaigns should be complementary, not substitutional: For example, email can out-perform DM, but not totally replace it
- Invest in email best practice – layout, heat-mapping, deliverability, rendering and call to actions
- Propositions have to map to programmes: Communications is only half the story
- If you don’t have something relevant to say – don’t say it! The most relevant communications at most relevant touch-points gain best response rates
- Be direct – explicitly state all the benefits of re-signing and the reasons why customers should do so
- Make all marketing material benefit-led (as opposed to price-led)
- Keep emails short and simple – the best-performing emails in terms of response are the shortest with the simplest offers
- Use personal tone-of-voice – A new subject line, “Welcome to…” (changed from “Be the first to hear about broadband news and updates”), which increased open rates from 13% to 16.3%
- Give opportunities for response – More links equals more clicks! Removing several links from eight-month old email body copy caused click through rates (CTRs) to decline from 3.7% to 1.8%.CTRs increased again when the links were re-introduced
- Include a value exchange - Throughout programme, best performing subject lines and emails are those which promise something to the customer: e.g. “Open for your loyalty bonus”