B2B retention strategies have more to do with actual relationship than any other space. The biggest challenge in B2B retention is knowing and staying connected with your customer between purchase cycles. When dealing with extended contracts there can be a long break in communication between contracts or you may not need to discuss the relationship until renewal time. That pause can create some fatigue in the relationship. Here are three strategies to help you break the silence.
No News Isn’t Good News
Despite what you might have heard, no news isn’t good news. If you haven’t heard from your client in a while, it’s time to reach out. If they are not talking to you, they are not thinking of you. Be proactive and be in touch with your contact on a social or professional level. Try to gain affirmation that everything is positive in the relationship, and if not, dive into that concern. Try automation campaigns with b2b retention strategies that might make this task easier.
This might sound a bit off the wall, but acknowledging your client with an award might be a good way to share the value that they bring to your company. For example you might take on a “Best Partnerships of 2015” concept and give your key accounts recognition for the relationship. Note that the award is for the way they run their business, not the number of zeros on the check they write to you. Businesses love to hear they are running better than the rest of your clients.
Always Market Yourself
Just because you have the client, does not mean the selling is done. You have to nurture your relationships, and that means continually investing in educating and developing your clients. You can do this through nurture campaigns via email, or video, aimed at gaining more of the client’s respect and business. You should read our Ebook, Kickstarting Your Customer Retention for some tactics on b2b retention strategies to get started.