10 Free or Cheap Ways to Retain Customers + Principle

Are you asking What are the free and cheap ways to retain customers?

Yes, you’ve come to the right place if you have the same question.

Since 2007, I’ve worked with countless customers who had the same queries, so be assured you will get some actionable points and value from this article.

It is not always about new customer acquisition, if you couldn’t get that client to renew their subscription or buy again from you then bigger chunk of the opportunity is wasted.

No matter what’s your niche and industry, every business owner runs into the issue of client retention, be it providing service or a product.

Of course, client retention varies depending on your business model.

Who sells product only one time will need customer to buy again when they need to buy more units for home or business.

Some products are subscription based and you want them to renew or buy life time subscription. You might want to upsell or cross sell something that drives more value to your customer and your business.

Service model also requires client retention in some shape or form.

Principle:

Even though there can be many more principles, the principle that I many times abide by is that “instead of making clients happy, make sure they are not unhappy”.

Well, everyone wants their clients to be happy after all who doesn’t want that, right?

Correct, but there’s small psychology at play here. While you need to ensure that your clients are happy, you can look at it from the lens of not being unhappy.

Not unhappy translates into clients feeling satisfied.

If client happiness is a ladder, and happiness resides at the top of the ladder then first step is not not being unhappy, second step is satisfaction, and at the top of the step it’s happiness.

There are few steps to make clients happy, and not being unhappy and feeling satisfied are the first most important foundation steps.

This principle my friend is free.

10 Ways

Now after the principal, let’s dive into 10 ways to increase client retention:

1. Customer success

If you are a medium or big enough company you can set up a department of customer success. These people can be picked from customer support, sales or anyone who knows your product/service well and are usually a good communicator.

2. Survey

When I say survey here, I mean getting feedback.

Without overwhelming your customers with lot of surveys you can put uiux to use on this one.

Beside customers, You can even get surveys filled from non-customers and that will give you a glimpse into what’s the overall climate is like: helping you predict and carefully prepare for rainy days.

Instead of sending a boring survey once a month to all your customers with regular questions, you can take a more holistic approach.

If you are SaaS: You can make surveys part of your knowledge base, actual app, support tickets and more.

If you are FMCG, you can make the experience seamless through your website, request data from distributors or e-commerce website and pay attention to calls and emails on the contact info you added on your milk box.

I only have examples from SaaS and FMCG but really it works for almost every industry and business.

This feedback mechanism doesn’t have to be cumbersome but extremely simple.

I would even suggest magical dashboard that shows you what’s the overall sentiment is like.

Really a lot can be done, ideas are limitless, if you are running out of ideas then ping me.

3. Email

Make emails important part of your customer journey. If you see them losing interest or missed monthly payment then send an email asking them if everything is alright.

Create multiple custom templates with possible user variables to insert.

Pay attention to previous emails data also.

4. Calls

If you can’t call all your clients, call bigger clients especially when they look little off the tangent.

5. Analyze data

Perform deep analysis and create different reports not just cyclical but also in real time.

Create report when the client retention is low? Specific months, specific geography. What’s the retention after ticket close or ticket open and what was the customer query.

There are lot of data points really that I have used for awesome retention.

6. Free renewal

You can offer perks to potential and best customers like free month, extra credits, upgrade to new tier free of cost or more.

7. Shared roadmap

Share your roadmap with customers. Get them on board what they want, where you are going, what great things they can expect.

8. Analyze tickets

This is similar to data analysis but with emphasis on magnifying retention or churn originating before and after customer support encounters.

9. Watch competitors

Always be on the lookout of what extra ingredients your competitors are bringing and if client retention will be affected by external threats.

10. Impression share

This one is a tricky one and relates with the competitors. Basically you need to see if you are losing the attention game. New cool player with shiny gadget will make even more impact on your customer land scape

Will SEO be dead after ChatGPT, and other AI?

Will SEO be dead? This question has been around for a long time, long before ChatGPT and other such AI advancements.

This is an interesting but a very critical question.

Why critical? Because livelihoods of lot of people depend on this.

What do you mean livelihoods?

Yes, it’s not just about the SEO experts but those who invested a lot in content, their time, efforts and business depends on search engines.

Who is (should be) worried about this is Google.

So, today, I’ll get a jab at this question. It will be based on logic, and human nature. I will drop some probabilities but logic and human nature, psychology, how humans do things will be a main part of this answer.

#1 – Google search has all the websites indexed and appear upon 1 quick search. The unique part here is the unique domains and landing pages where each person is taken to read the information. So far, it doesn’t happen with GPT even though AI by Google and Bing have this option.

#2 – It is most likely that OpenAI ChatGPT will win this race 3 years down. Or if they stick to paid subscription model then free tier (not ads free) will take up large chunk of the audience.

#3 – OpenAI will start mentioning names, domains and URLs whenever it hits real time or most recent form as part of its greater campaign, you can attribute it to monetization, legitimacy, censorship free info and other.

#4 – People still do shopping through Google and it will not change unless big update happens in GPT.

Who is more at risk?

I think informative websites are at huge risk.

Short answer = SEO will never be dead but will change its shape and form, so you need to be a fast adapter. Any way the wind turns so should your ship.

20 High Performing Sales Methodologies

High performing sales methodologies, strategies and frameworks – who doesn’t like them?

No matter what you call them, a strategy, methodology, framework or technique, today I am going to share the most useful one.

BANT:

This is my favourite. BANT can be read as Bent like banter.

B stands for budget (Does prospect have budget?)

A stands for authority (Does person have decision power?classify)

N stands for Need (Does lead have need for you?)

T stands for Timeline (Can you fulfil it?)

How BANT works? You or your sales people will politely take through the conversation while getting answers according to the BANT. Don’t be too direct, be humble and kind.

BANT benefits: You know early on that this lead is a diamond category.

SPIN Selling:

Developed by Neil Rackham, SPIN (Situation, Problem, Implication, Need-payoff) focuses on asking questions to uncover the customer’s pain points and needs, then presenting solutions that address those needs.

How SPIN works: Your sales professionals will ask questions to understand the customer’s situation, uncover problems, explore the implications of those problems, and finally propose solutions that meet the customer’s needs.

SPIN benefits: Helps build rapport with customers, uncovers hidden needs, and guides the sales process towards a solution-oriented approach.

Challenger Sales:

This is based on the book “The Challenger Sale,” this methodology involves challenging customers’ assumptions and educating them about their needs.

How Challenger works: Sales reps challenge customers’ thinking, share insights, and tailor solutions to demonstrate value and differentiation.

Challenger Benefits: Helps sales reps become trusted advisors, fosters deeper customer relationships, and drives more effective sales conversations.

Consultative Selling:

It focuses on understanding the customer’s needs and providing tailored solutions through a consultative approach.

How Consultative Selling works: Sales professionals act as consultants, asking probing questions, listening actively, and offering personalized recommendations based on customer needs.

Consultative Selling Benefits: Builds trust and credibility, enhances customer satisfaction, and increases the likelihood of closing deals.

Solution Selling:

It centers around understanding the customer’s pain points and presenting solutions that address those specific challenges.

How Solution Selling works: Sales reps identify customer problems, propose tailored solutions, and emphasize the benefits and value of their offerings.
Benefits: Helps align products or services with customer needs, increases sales effectiveness, and fosters long-term customer relationships.

Social Selling:

It basically leverages social media platforms and networks to connect with prospects, engage them in conversations, and build relationships.

How it works: Sales professionals use social media platforms like LinkedIn, Twitter, Facebook or other micro platforms to share valuable content, connect with prospects, and nurture leads.
Social Selling Benefits: It expands reach and visibility, connects on personal level, facilitates relationship-building, and enhances engagement with prospects.

Inbound Selling:

It focuses on attracting and engaging prospects through valuable content and personalized experiences. Opt-in is an important part of inbound selling.

How Inbound selling works: Sales reps leverage inbound marketing tactics like content marketing, SEO, and lead nurturing to attract and engage prospects at various stages of the buyer’s journey.

Inbound Selling Benefits: Generates high-quality leads, fosters trust and credibility, and aligns sales and marketing efforts.

Account-Based Selling (ABS):

Targets high-value accounts with personalized, targeted sales and marketing campaigns.

How ABS works: Sales and marketing teams collaborate to identify and prioritize key accounts, develop customized strategies, and engage stakeholders with personalized messaging.

ABS Benefits: Increases win rates, drives higher deal sizes, and strengthens customer relationships.

MEDDIC/MEDDPICC:

A sales/lead qualification framework that stands for Metrics, Economic Buyer, Decision Criteria, Decision Process, Identify Pain, Champion, and Competition. Sounds complicated, I know, but don’t worry – it’s just about learning.

How it works: Sales professionals use this framework to qualify opportunities based on key criteria and assess the likelihood of closing deals.

Benefits: Provides a structured approach to opportunity qualification, increases sales forecast accuracy, and improves win rates.

Customer-Centric Selling:

Focuses on understanding the customer’s needs, priorities, and challenges to tailor solutions accordingly.

How it works: Sales reps prioritize the customer’s interests, ask probing questions, and position their offerings as solutions to specific customer challenges.

Benefits: Enhances customer satisfaction, fosters long-term loyalty, and drives repeat business.

N.E.A.T. Selling:

This sounds cool right? It focuses on building rapport, understanding needs, exploring alternatives, and managing next steps.

How N.E.A.T works: Sales professionals focus on building rapport, asking open-ended questions, and collaborating with customers to identify needs and address concerns.
N.E.A.T Benefits: Increases customer engagement, improves sales effectiveness, and drives better outcomes.

Target Account Selling (TAS):

A strategic approach that focuses on targeting and winning large, strategic accounts.

How T.A.S works: Sales reps identify and prioritize target accounts, develop account-specific strategies, and engage stakeholders with personalized messaging and value propositions.

T.A.S Benefits: Helps penetrate key accounts, increases deal sizes, and strengthens relationships with strategic customers.

Value Selling:

Emphasizes the value and ROI of a product or service to prospects and customers.

How Value Selling works: Sales reps quantify the value proposition, demonstrate ROI, and align offerings with customer outcomes and objectives.

Value Selling Benefits: Differentiates offerings from competitors, justifies pricing, and accelerates the sales cycle.

Sandler Selling System:

It focuses on uncovering prospect pain points, qualifying opportunities, and closing deals through a systematic approach.

How Sandler System works: Sales professionals follow a structured process of uncovering prospect needs, qualifying opportunities, and handling objections to close deals effectively.

Benefits: Provides a repeatable sales process, increases sales effectiveness, and fosters long-term client relationships.

Customer Success Selling:

Focuses on ensuring customer success and satisfaction throughout the sales process and beyond.

How it works: Sales reps prioritize customer needs, provide ongoing support, and proactively address issues to ensure customer success and retention.

Benefits: Enhances customer satisfaction and loyalty, drives repeat business and referrals, and reduces churn.

Growth Selling:

It focuses on identifying opportunities for growth and expansion within existing accounts.

How it works: Sales reps collaborate with customers to identify areas for growth, propose additional products or services, and expand the relationship over time.

Benefits: Increases customer lifetime value, drives upsell and cross-sell opportunities, and strengthens customer relationships.

Conceptual Selling:

Focuses on understanding the customer’s conceptual or strategic needs and aligning solutions with those needs.

How it works: Sales reps engage in strategic conversations, ask probing questions, and position offerings as solutions to broader business challenges.

Benefits: Demonstrates strategic value, fosters executive-level relationships, and positions offerings as long-term solutions.

Value-Based Selling:

Focuses on understanding the unique value drivers of each customer and tailoring solutions to maximize value.

How it works: Sales reps identify customer value drivers, quantify the value proposition, and align offerings with customer objectives and outcomes.

Benefits: Maximizes customer ROI, justifies premium pricing, and strengthens the value proposition.

Predictive Selling:

Another cool name. It utilizes data and analytics to predict customer behavior and preferences, enabling personalized sales strategies.

How it works: Sales professionals leverage predictive analytics tools to analyze customer data, identify trends, and anticipate customer needs and preferences.

Benefits: Improves sales forecasting accuracy, enhances lead prioritization, and drives more targeted sales and marketing efforts.

Relationship Selling:

Like name suggests, it focuses on building long-term, mutually beneficial relationships with customers through trust, rapport, and personalized service.

How it works: Sales reps prioritize relationship-building, listen actively to customer needs, and provide ongoing support and value to nurture long-term loyalty.

Benefits: Increases customer retention and loyalty, drives repeat business and referrals, and strengthens brand reputation.

Agile Selling:

Handle with care. Embraces agile principles and methodologies to adapt quickly to changing customer needs and market conditions.

How it works: Sales professionals collaborate cross-functionally, iterate on sales strategies based on feedback, and prioritize customer value delivery over rigid processes.

Benefits: Increases sales agility and responsiveness, fosters innovation and experimentation, and drives continuous improvement.

These sales methodologies frameworks offer diverse approaches to sales effectiveness, catering to different industries, customer segments, and sales environments. By understanding and implementing these methodologies, sales professionals can enhance their effectiveness, build stronger customer relationships, and drive better outcomes.