Customer retention is the strategy of engaging customers so that they're motivated to continue purchasing from you. As a business owner, you may have tried many approaches to improve your business, but have you looked at your customer engagement efforts? While customer retention isn't an exact science, these innovative customer retention programs are worth a look.

#1: Education

In a world where individuals are increasingly responsible for their own professional development, people will be grateful to your organization if you’re able to help them keep their knowledge fresh.

Education offerings can take a variety of forms, from online courses and podcasts to information repositories and access to subject matter experts. I know of a company that provides free sales and marketing training videos and certifications for customers and partners who want to grow their skills.

You can measure the success of customer retention programs involving education by tracking your Customer Retention Rate (CRR) before and after implementation, as well as ascertaining how completing educational initiatives correlates with repeat purchases.

#2: Pop-Up Engagements

"Surprise reciprocity" refers to the act of giving unexpected and delightful thanks to your most valuable customers in the form of a memorable gift or note.

Your offering need not be pricey if it's delivered with care and thought. Some of the best examples of surprise reciprocity are highly personal. If you run a toy store, you may send your customer’s child a handwritten birthday card with a free gift voucher enclosed. And if you have a pet supply store, you might send your customers a painting or cartoon of their beloved dog or cat.

Do your best to bring customers right back into your funnel by picking up the phone. Your objective? Thank them person-to-person and share tips and tricks for making the most of their purchase.

Success metrics for customer retention programs incorporating pop-up surprises include an uptick in your Loyal Customer Rate (LCR) among those who received acknowledgements.

#3: Real-Time Social Media Dialogue

Among client retention programs, this one is admittedly the toughest to pull off. After all, many businesses offer phone or email customer service, and many do engage with customers on social media, but few have mastered the art of actively responding to brand-related comments on Twitter, Facebook, or Instagram.

This type of program ensures that customers have an additional vehicle for getting in touch with you and promotes the message that you are flexible and open to feedback.

Customer Churn Rate (CCR) is a terrific metric for tracking the success of your real-time social media dialogue. You can use analytics tools to tie individual social media engagement to a decrease in customer churn.

#4: Human-Centered Follow Up

Customer retention programs are only as good as the humans who power them. And even if a customer buys something from you once, there's no guarantee they will repeat the purchase when someplace else dangles competitive pricing in front of them.

Do your best to bring customers right back into your funnel by picking up the phone. Your objective? Thank them person-to-person and share tips and tricks for making the most of their purchase.

A stellar example of human-centered follow up comes from a natural health company I know of that provides maintenance supplements. If a customer abruptly stops ordering or cancels a subscription, they'll call to make sure everything is alright health wise.

Such outreach stands out, especially among Generation Z customers. The more you do it, the more your Repeat Purchase Rate (RPP), Customer Retention Rate (CRR) and Customer Lifetime Value (CLV) metrics are bound to improve.

#5: Personalized Targeting

Segmentation strategy involves dividing your customers into groups by demographic, behavioral and psychographic characteristics, and serving up targeted marketing messaging accordingly.

Many businesses have recently taken segmentation a step further by providing content and offers that speak directly to the individual customer. Let's take a national pharmacy chain as an example. When you log onto its website, a customer can find a list of their recent purchases and deals related to those items. If a frequently purchased item goes on sale, the chain will proactively email the customer to alert them.

When using a tool to deliver this type of targeted content, tracking whether it increases your Repeat Purchase Rate (RPR) and decreases your Customer Churn Rate (CCR) is a natural extension.

Considering the variety of online options available to most customers today, business owners must keep on top of customer retention tips that ensure they succeed in holding on to their most valuable clientele.

Read more articles on customer engagement.

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