Robert Cassard • Video Growth Hacking #3
"ROI from customer retention is up to 10 times higher than from lead generation."
Vital customer life-cycle videos to build loyalty immediately after a sale.
When you invest in customer retention, the ROI is up to 10 times higher than what you get from lead generation.
In this video, we explore specific video content that will make customers fall in love with your company and your products.
A lot of companies are so busy chasing new customers that they forget about current ones. And that’s a huge mistake.
Did you know a five percent increase in customer retention can yield a seventy-five percent increase in lifetime profit? When you invest in customer retention, the ROI is up to 10 times higher than what you get from lead generation. Crazy.
So what kind of video content will make customers fall in love with your company and your products?
First of all, say thanks. Send every new customer a video saying thank you for their business. The video should feature either a high-level exec from your company or another great spokesperson on camera. Do this right, and it basically eliminates buyers’ remorse and cements your reputation as a company—and a bunch of real people— who value their customers.
Number two: Send an update. Keep the customer up-to-speed on the status of their order, their install, when something is getting shipped and why that's exciting. For B2B and high-end products, building anticipation has a magical effect…and again, it says you care and you share their excitement.
Three: Give instructions by video. Every customer likes personal attention and help. I’m not talking about a detailed video user manual—just a quick overview can make a huge difference. Higher satisfaction, fewer returns...no one ragging about how your product sucks because they couldn’t figure out how to use it.
Four: Ask for feedback. Send a video asking customers to take a satisfaction survey. a one-question Net Promoter Survey with a comments field is fine. You’re gonna learn a ton, and you’ll find out who your promoters and detractors are. Then you use that info to gather testimonials, soothe your naysayers, and radically enhance your social media.
Five: Anticipate customer needs. You know your product and your customer lifecycle, so reach out before the times when things tend to get rough or go bad…like for repairs, upgrades, warranty renewals, replacements, etc. Make it easy for them to get the help they need. Customers will think you have ESP and they’ll love you for it.
Customer lifecycle videos like this work wonders for your relationships. They barely cost anything to produce, and they save a ton of staff time. I also recommend using an Automated Video Communications platform to make sure you send the videos at just the right time. This makes the whole process painless and compounds your results. That’s the whole point of video growth hacking.