How to Increase Your Startup’s Customer Retention Rates [+ Examples]

What is Customer Retention?

  • Number of customers at the start of a period (S)
  • Number of new customers acquired during that period (N)
  • Number of customers at the end of that period (E)
  • Number of customers at the start of a period (S)
  • Number of customers lost over a period (L)

Whose responsibility is customer retention?

  • The marketing team should address customer pain points with personalised content.
  • The sales team should demonstrate product value with follow-up communication.
  • The product team should listen and address customer feedback with updates.

How to Increase Your Startup’s Customer Retention Rates

1. Design a seamless, omnichannel customer experience (CX)

Source: Digital Commerce 360
Source: Stirista
  • Welcome email sequences
  • Product walk-throughs (check-lists, tooltips, progress bars)
  • Self-service knowledge base (blogs, videos, webinars, FAQs)
  • Customer success calls
  • Drop-in clinics (in-person or via video-chats)
  • Call centres (in multiple time zones)
  • Website chatbot (Available 24/7)
  • Email support
  • Social media comments & DMs
  • SMS service
  • Searchable FAQs
  • Email surveys
  • Social media polls
  • In-store tablet surveys
  • QR Codes
  • Pop-up forms
  • User-reviews & testimonials
  • User-generated content (UGC)

2. Reward Loyalty

Source: Hubspot

3. Continuously create personalised content

4. Be flexible enough to pivot when needed

5. Be customer-focused with billing and pricing changes

Source: Fundera

Summing Up

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