How to Strengthen Your Customer Retention Using Video
According to one recent study, the probability of selling to an existing customer is between 60% and 70%… whereas it’s as low as just 5% when talking about a new customer. Likewise, a massive 80% of your future profits will come from 20% of your existing customers – making customer retention critical for not only business growth, but for boosting loyalty and trust, too.
If you truly want to strengthen your customer retention efforts, video marketing is absolutely how you do it. To that end, there are a few key formats you need to be aware of moving forward.
1. Personalized Video Welcome Emails
There’s an old saying that reminds us that you can only make one first impression, so you’d better go out of your way to create the most positive one that you can. For many brands who are beginning a relationship with new customers, a personalized welcome email is an incredible opportunity to accomplish exactly that.
A short, personalized welcome video email is often more than enough to set the tone of the relationship. It lets you quickly convey important messaging and reaffirm in people’s minds that you’re only here to help. If you play your cards right, it’s also a great way to give those people a peek behind the curtain – making it easier for them to engage with your brand, too.
Now, you don’t need to create the most highly polished video that anyone has ever seen and you certainly won’t need to set up a video studio in order to get the job done. Just a short 30-second to one minute video is more than enough to not only introduce yourself, but to set a positive expectation on behalf of the customer, too.
2. Onboarding Videos
Another great opportunity that you won’t want to ignore takes the form of onboarding videos – something that is again an ideal chance to help your customers use your products with ease.
By far, your customers want to get the most out of the products and services that you’re providing them with. Oftentimes, those products alone aren’t necessarily enough to get the job done. But by creating the right type of content, you can provide additional value to people who have already made a purchase and cement your reputation in their mind as someone who truly cares for them. You can do this by way of pre-recorded content or even with live video streaming sessions – the choice is yours.
In addition, the onboarding process also goes a long way towards helping companies like yours gather valuable customer data, build up a mutually beneficial relationship and open up a whole new channel of communication, too. Not only will this help build customer confidence, but it will ultimately sow the seeds of increased consumer loyalty, too.
Here’s a great example of an onboarding video by Respona:
3. Feature Announcement Video
By far, one of the most important ideas that you can convey to your target audience has to do with the idea that you’re not exclusively interested in a one-time purchase. People want to know that you’re going to continue to support the product they spent their hard-earned money on, going above and beyond to provide them value for years to come.
One of the best ways that you can do that comes by way of a feature announcement video – or, a short video that outlines the specifics (and benefits) of each new feature release that you’re working on.
This is a terrific chance to give people a sense that your platform is constantly being worked on and that you’re never satisfied with “good enough.” Not only will this help give them an incredible sense of confidence in the purchase they’ve already made, but the chances are high that it will motivate them to make more in the future, too.
4. Build Trust By Sharing Customer Story Videos
One of the most important building blocks for your relationship with your customers – or in any relationship, for that matter – can be summed up in one simple word: trust.
To that end, absolutely nothing persuades customers and helps build trust like social proof – meaning that you should start sharing customer story videos on networks like Facebook, Twitter, Instagram and more.
Rather than coming right out and telling your new customers how great you are, let your existing customers gush about your platform and the many ways in which it has made their lives better.
Plus, if you play your cards right, this can be an endless stream of content as you can always film more videos as more and more satisfied customers come into the fold.
5. Educate Your Customers by Creating How-To Videos
Video collateral is also nothing if not an invaluable opportunity to get educational with your audience. Let’s say you have published a series of over-the-top (OTT) apps, for example, and you want to make sure that people know how to use them properly. You could film a series of videos that not only outline the steps of creating an account and finding relevant and enjoyable content, but you could also outline all of the other fun little tips and tricks for a better experience that people may have otherwise missed, too.
Overall, creating how-to videos like this is a perfect way to show someone why your brand is worth being loyal to in the first place.
6. Leverage Live Videos
Last but not least we arrive at the concept of live videos – by far one of the most important content marketing trends to come along in a generation.
Long-form live videos aren’t just a great way to share your brand’s story in a way that creates its own sense of urgency (people will tune in because they don’t want to miss something taking place in real-time), but it’s also a perfect chance to educate and interact with your customer base, too.
You can take questions from viewers and provide live answers. You can address concerns and “go off script” by allowing people to guide the course of your discussion. It’s a naturally engaging way to use video marketing to your advantage and it’s one that can’t help but strengthen your customer retention efforts, too.
In the end, just remember that these are all tips that you should be leveraging to your advantage whenever you have the opportunity to do so. Why pick one of these formats when you can use all of them to great effect?
Not only will this help you bring a steady stream of new customers into the fold, but it’ll also help you make the most out of the ones you already have, too.
- Personalized video welcome emails are a great way to set the tone in your relationship with your customers.
- Onboarding videos and feature announcement videos aren’t just educational – they help build customer loyalty and confidence.
- Live videos are a perfect chance to take engagement to a whole new level with real-time content.
- Video can also be a tremendous opportunity to generate an untold amount of social proof, thus creating trust along the way.
Author: Amir Shahzeidi
Amir is the digital marketing manager at Uscreen, an all-in-one video monetization and live streaming PPV platform that empowers video entrepreneurs and creators to monetize their content and build thriving businesses around their videos.