If you have been wondering how to make business videos that increase your client retention, you have come to the right place.
One of the primary purposes of video marketing is to find new customers and keep those same customers. As you likely know, it is much easier to generate business from a repeat customer than to find the same business from a new customer. In fact, there is a lot of data out there that says it is five times more profitable to retain an existing client than to find a new client. This is because it takes time and effort to find prospective customers and convince them to become paying customers.
To put it simply, maximizing your business’s retention rate is extremely important. Doing so will allow you to have a better chance of having the lifetime value (“LV”) of your customer be greater than your customer acquisition costs (“CAC”), which is essential for any business.
But how can you increase that customer retention rate? You can find the answer by tapping into the power of video marketing. In this article, I want to provide you with a framework that can help you increase your retention rates by at least 15 percent. The secret lies in the power (and ease) of creating personalized videos for your current clients.
The Status Quo
But before delving into how to make business videos that increase your customer retention rate, it is important to truly understand why businesses sometimes struggle to retain their customers. A huge problem with client retention comes down to the fact that clients feel like they are one of many. Certainly, they understand that the company or vendor has other clients that require their attention. Still, however, they feel like they aren’t getting the attention they deserve. They have their own wants and needs that must be addressed quickly. While these demands are difficult on most (if not all) businesses, this is the world that we live in.
Businesses have recognized this reality, but in doing so, they have encountered another problem. Adding this personal touch and humanization to client relationships is often expensive. Often, it forces account executives and managers to get out of the building. They have to attend client dinners and meet their clients at industry conferences. They have to physically go to their clients’ offices (or vice versa) to check-in and plan for the future.
Truthfully, it isn’t always practical. All of us are busy. We have to check off all of the boxes on our to-do lists while serving our clients. Often, it is difficult to judge everything, yet our clients expect a level of personal service that requires more time than we can afford.
So what can we do? Fortunately, we can take advantage of the power of personalized video to supply that personal touch in an extremely efficient manner.
To better illustrate the power of personalization in retaining your customers, I want to share the story of Charlene Dipaola. Charlene is the founder of Hip Shake Fitness, which is an online dance workout studio. For $18 per month, Hip Shake Fitness users can access hundreds of dance workouts—all from the convenience of their own home. I spoke with Charlene on a recent episode of Dubb’s podcast Connection Loop (you can find the full episode by clicking here).
While she had been wondering how to make business videos that increase customer retention, she quickly came to the conclusion that personalization was the way to go. One of the things that Charlene does to retain customers is sending personalized videos to those customers who have signed up for a free trial. She does this by sending them a personalized Dubb video. The video contains the subscriber’s name, and either Charlene or a member of her team uses that video to welcome the new customer to the Hip Shake Fitness community. They give the customer several workouts to try and make the customer feel like they are joining an online community rather than an online portal. Charlene also doesn’t hesitate to let new customers book an appointment with her.
Even though the video is only about 30 to 60 seconds long, the video has a substantial impact. Not only can that new customer watch the personalized video from Charlene or one of her colleagues, but that customer can share that with their friends and family. This effort has clearly paid off for Charlene and Hip Shake Fitness. As she told me during her interview on Connection Loop, sending personalized videos to these customers resulted in an increased retention rate of 10 to 15 percent. She constantly receives feedback from users who said that receiving that personalized video was a huge factor in staying with Hip Shake Fitness.
Some Practical Steps
Charlene’s story is just one story that shows the power of personalized videos in increasing customer retention. It can certainly work for you and your organization. That said, you may want to take this one step further.
Yes, you can certainly use Dubb to send personalized videos that welcome the new client to your business. If you have been wondering how to make business videos to increase retention, this is certainly a great place to start. But you can also use it to show new customers how your business’s process actually works or how your product or service actually functions. To do this in Dubb, you can create a playlist. This means that you can have an introductory video that is personalized to the customer but then add an additional video that explains your product or service. You have free reign here. The video can be an explainer video or even a video you recorded in the past with the Dubb Chrome Extension. From there, you can add a personalized outro message using the Dubb playlist or the Dubb mobile app (which allows you to have multiple clips).
When using Dubb to add personalization text to your videos, you will see that the text will be placed above the video (which initially appears as an animated thumbnail gif). In that text, you can include the customer’s name and specifically what you want to discuss with them. It can be as simple as “Welcome [customer name]” or it can be more detailed. The message that you include here is also added to your video’s landing page so that the customer can see the message before they play the video. To reiterate, this is an extremely powerful tactic that lets you build a more personal customer relationship at scale.
Using Dubb’s platform, you can also send personalized emails to current customers in an automated way. All you need to do is import a CSV file containing your contacts. From there, you can add a tag to their contact section on Dubb and then automate outbound video messages through Gmail. If you’d rather use Zapier in this process, you are free to do so. Ultimately, all of this can be configured through your Gmail or SMTP server.
In this type of automated email, it is extremely easy to add personalization text. Once again, it is an opportunity to build that close relationship with your clients, which increases the odds that they will not jump ship for a competitor.
And just to be clear, you don’t have to solely use automation with introductory videos to your customers. For instance, with Dubb, you can use these automation features to send a personalized video message if some sort of life-cycle stage gets triggered within your CRM software. You can send personalized video messages in your weekly or monthly newsletters. You can even automatically send videos on the customer’s birthday.
Maintaining the Relationship
Once you send your personalized welcome video message, however, it’s important to recognize that the work doesn’t stop there. You must take this approach and strategy throughout the entire lifespan of the relationship. The question of how to make business videos that increase client retention is one that you must continue to ask yourself.
Luckily, Dubb makes it extremely easy to increase customer retention. You can send these customers a personalized video message monthly, weekly, or even daily (depending on the circumstances). Again, these videos can vary based on your needs. They can be screen videos, webcam videos, or something else. They can show how to better use your product or how your product can solve a key challenge in the customer’s life.
Ultimately, they show the customer that you are thinking about them and that you treasure their business. You also show them that you want to make their life better. All of these factors combined make it much more likely that the customer is going to remain a loyal client.
The simple fact of the matter is that customers constantly change their minds. They try new products or services that they think will improve their lives. That said, customers build relationships with people rather than companies. It is in your best interest, therefore, to position yourself as a friend to your customer. Be real and be genuine. Authenticity is the name of the game here. Without it, your customers will be able to immediately sense that you are trying to “sell” or “take advantage of them,” even if that isn’t your intention.
Technology can help with this effort. With Dubb, you can scale those real connections in an extremely easy and effortless way. You don’t need a huge team or production to send these personalized videos to your current clients. Instead, you can click one or two buttons to start recording and distribute your video to your customers. Ultimately, Dubb lets you use technology to develop all of your customer relationships at scale.
However, it is also important to remember that there are other types of communication beyond asynchronous communication. While we at Dubb have built our platform around asynchronous communication, sometimes you need that synchronous back and forth, whether it is in-person or on a conference call. Because of this, you will want to seriously consider having one of your calls to action be to book time in your calendar. This way your customer has the option of communicating with you in the format that works best for them. At Dubb, we provide integrations with the most popular calendar services, so you can be certain that your customer can book a call when you are actually available.
Differentiating Yourself Through Community
No matter the sector or industry, the business world has become more competitive. Not only are you competing with rivals in your city or state, but you are competing with rivals located throughout the world. By asking yourself how to make business videos that increase customer retention, you are certainly starting off on the right foot.
Ultimately, one competitive advantage that you can leverage is community. By building a strong community around your business, you substantially increase the odds that your customers stick with you. And how do you build a strong community? It is all about investing time into building that personal connection. You can certainly do so by meeting with your customers face-to-face, but you can also do it through video. I encourage you to do so, whether it is through Dubb’s platform or another platform.
Subscribe to Dubb’s Connection Loop Podcast
Connection Loop is a podcast hosted by Dubb Founder, Ruben Dua. The show focuses on the stories of leaders, innovators, and friends — all in a conversational format. This show is brought to you by dubb.com.