Acquiring a new customer can cost five times more than retaining an existing customer.
That’s crazy! I know.
So the mistake I see the most in SaaS startups, it’s that they keep focusing on user acquisition instead of building customer loyalty and selling more products and services to their existing customers.
Let's dive into 5 key strategies to increase your sales with customer loyalty.
- #1 Give it first
- #2 Be transparent
- #3 Reward your loyal customers and say thank you
- #4 Provide an amazing onboarding experience
- #5 Build a consistent relationship with your customers
Don't like to read? Don't worry! 😎 I have a video for you.
#1 Give it first
Isn't it always awesome when you're a customer of a company and that company goes the extra mile for you? When they go above and beyond their service to make you happy. It shows that they care about you. And you will remember their brand for sure.
So whenever you can, provide value to your customers. Send them valuable content, help them achieve their goals, and put them in touch with experts who can solve an issue they have.
There are many ways to show your customers that you care about them.
If you're wondering how to convince potential customers to buy your product, check our post: How To Convince A Customer To Buy From You.
#2 Be transparent
You've heard it before and will hear it a hundred times more, but you need to be transparent and honest with your customers in order to build customer loyalty.
Don't be afraid to be authentic with your customers. Let them know what you're up to by sending them videos and pictures of your team working. You can even build in public, share your experience in a blog, share your revenue stats, or create a public roadmap. This transparency will help you build trust with your customers.
#3 Reward your loyal customers and say thank you
Saying thank you might be the most underrated tactic to build customer loyalty.
So take time out of your busy day to reach out and say something kind to your loyal customer. Combining your thank you message with a meaningful reward and you will double the impact of your efforts.
Consider rewarding loyal customers with things like:
- a simple discount of 5% to 15% of the monthly subscription price
- a free trial for referrals to encourage customers to bring in leads
- or by offering a free promotion of their product or service on your social media
The possibilities here are endless!
#4 Provide an amazing onboarding experience
Providing an amazing SaaS onboarding experience is one of the best ways to ensure new users stick around after their free trial is over.
There are many things you can do to create a delightful user experience: you can use UI patterns to guide your users to their end goals like tooltips or modals. You can use segmentation to put your users in different flows. You can use tools like Vuzers to welcome your users and gather user insights.
But one of the keys to a successful onboarding experience is Time to value (TTV).
Time to value is the amount of time it takes for a customer to obtain the value they expected from your product. What we call the "aha moment" in the SaaS market.
The fastest is your TTV, the more likely you are to keep a user and avoid customer churn.
#5 Build a consistent relationship with your customers
Engage with your customers as often as possible.
The idea here is to build a genuine relationship with your customers in order to build trust.
So listen to them, talk to them, show that you care, and show that there are humans behind your product.
Engaging with your customers doesn’t mean you need to reach out manually all the time.
You can take the smart route and automate your customer engagement.
For example, at Vuzers, we help you create personalized videos at scale that you can use to:
- send to your customers each time they reach certain milestones in their journey with your product.
- assist your customers and deliver support videos designed around frequent product issues and questions.
- send a feedback request.
- send them a thank you message.
- ask them why they churned.
👉 You can try Vuzers for free.
Building relationships with your customers is one of the most successful strategies to build customer loyalty.
So to recap, if you want to increase your sales with customer loyalty, you need to:
- Give it first, provide value as much as you can.
- Be transparent and honest with your customers.
- Reward your loyal customers and say thank you. This is very important!
- Provide an amazing onboarding experience and the fastest Time to value possible.
- Build a consistent relationship with your customers to build trust.
- Use personalization
I hope these strategies will help you build customer loyalty and boost your sales. And if you found this article helpful, make sure to share it with your friends! 🙏