If you think that marketing is only about getting new customers, you’re not alone. Another critical aspect is marketing to your current client base. Getting new customers is vital to any business and an essential element of marketing. However, the often-overlooked aspect of marketing is focusing on the customers you already have.
Tech marketing primarily benefits from a solid retention strategy. In SaaS business, losing customers over time is often referred to as the churn rate. Moreover, when you’re running a software business, you’ll find that enacting a marketing strategy that focuses your existing customers will go a long way in reducing customer churn.
Before you begin looking at specific retention-focused tech marketing strategies, it’s essential to start with the right data. Run some reports and find out what your current retention rate for your customers is. HubSpot has a great guide that includes a handy formula you can use to figure out your baseline retention rates.
Once you’ve looked at your current data, you can create a better tech marketing strategy that’s more likely to achieve your goals and hit your target metrics.
Seek - and listen to - customer feedback
Customers want to be heard. So when your business is software, your customers rely on your product to ensure that their business runs successfully. Because of this, you want to ensure that you’re always making sure your product is improving and meeting your customers’ needs.
When you incorporate seeking and implementing customer feedback into your tech marketing strategy, it signals to your existing customers that you listen and you care about their experience.
Increase customer engagement
One of the best ways to market to your current customers is to stay on their radars through consistent engagement. There are plenty of ways to boost customer engagement. For a more in-depth look at why customer engagement is so crucial to customer retention, check out this article. In the meantime, here are some of our favorite ways to promote customer engagement:
- Social media - Most brands are active on social media now, and there’s a good reason. Most of your customers spend their time on various social media platforms, after all. Having an active presence on social media will allow you to interact with your customers, provide more comprehensive customer support, and share great content and industry tips. It’s also a great way to develop your brand voice and help customers feel connected to your brand.
- Email - Though it might be seen as outdated in some circles, email marketing still can’t be beaten - especially for existing customers. Email is an excellent platform for helpful reminders (such as if they have a credit card that’s about to expire or a trial period is ending soon), updates, content, and special offers or exclusive deals.
- Valuable content - As a software company, a core tenet of your tech marketing message should be that you’re a resource and provide a service that the competition doesn’t. One great way to do that is to create and curate helpful industry knowledge. Create content that your customers will be able to use and share. Not only will this establish you as an industry leader, but it will give your customers an incentive to engage with you
These are just a few of the ways that you can boost customer engagement. The more engaged your customers are and the more they interact with your brand, the more likely they are to continue using your product.
Create a seamless service experience
Don’t overlook your software itself as you’re building your tech marketing strategy. One of the best ways to market to your existing customers is to ensure that using - and especially upgrading - your software is easy. Make sure that customer support is available, prompt, and easy to reach. Fix any bugs swiftly. Make sure your software is flexible and can grow and expand with your clients..
Upgrades and rewards
This one may seem intuitive but is often overlooked. By offering exclusive deals, perks, and rewards, you’re telling your customers that their business matters to you. There are plenty of creative ideas that you can use to incentivize your customers’ loyalty, including bonuses for referring friends, percentage discounts to commemorate milestones or other holidays or events, and more. Find creative ways to thank your customers for being your customers.
For software customers, the most significant source of income is existing, long-term clients. When you focus your tech marketing efforts on retaining the clients you already have, you’re investing in a successful future.