6 min read

4 ways to retain your customers

You’ve built a great product, it solves a customer pain-point, there is a market need. You have paying customers who see the value. And yet, renewal time comes and you lose them. Why? What are you doing wrong?
4 ways to retain your customers
Photo by krakenimages / Unsplash
A note from Connie: “As a product matures, so should the service offering. While many SaaS products are self-serve, the support component still exists, and is critical to product success. In this article, guest writer Tania Sahai, founder of the Silver Palette, shares her insights on how to retain customers through excellent service. Hint: training is a huge component, and Product Managers can provide a lot of value here. Let’s dive in. - Connie”

You’ve built a great product, it solves a customer pain-point, there is a market need. You have paying customers who see the value. And yet, renewal time comes and you lose them. Why? What are you doing wrong?

Why is it so hard to retain your customers? 🤔

I was hired to figure out how to retain customers when I joined IRI in 2007. IRI is the market leader in analytics for CPG. We collect point-of-sales data for CPG manufacturers and analyze the factors impacting sales such as price, promotion, distribution, and marketing.

Like most companies, investing in retention is better than hunting for new customers. So to solve this, I took a step back and started with the basics. I reached out and asked my customers what they thought of our solution. And what I learned surprised me.

It turns out, it’s not just about your product, but also about the service around your product.

It’s about the total product experience.

But what does that mean? Let’s break it down. The 4 ways to retain your customers are:

  1. Know your customer landscape  👫
  2. Invest in non-revenue generating product features 💰
  3. Train your internal customer teams to be subject matter experts 🏋️‍♀️
  4. Over-communicate with your internal customers 🗣

Top 4 ways to retain your customers 🤩

1. Know your customer landscape - Don’t forget your internal customer teams. 👫

When we talk about market research and consumer insights - we tend to focus on the end user, the person using the product.  But in B2B, the customer landscape can get complicated. We have clients - our external customers. But we cannot forget that we have a set of “Internal customers”. This is our internal operations, such as support, service, and sales teams that directly or indirectly interact with our client and our product.

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