For anyone starting an online community, member retention is key to its success, so how do you influence member retention?
Is it a multiple-faceted strategy? Is there a magical solution? How does one influence member retention?
How Do You Influence Member Retention?
To influence membership retention, you must provide members with valuable products and services and involve them in the community.
We’ll run through these elements now, and then we’ll follow up with the most valuable factor for member retention in the next section.
Providing great value for members requires that you:
Build An Inclusive Community
When creating a community, many forget it needs to foster a sense of belonging where members feel safe.
Members should also be encouraged to connect with others within the community.
Keep Open Communication Channels
Members must be kept informed and engaged with the community, which can only be achieved through regular communication.
Whether this is via a regular newsletter, emails, or social media updates, make sure it is personalized. Also, acknowledge the achievements of members within the community.
Make It Personal
When developing a community, tailor experiences and offerings to individual member preferences whenever possible. This might involve personalized recommendations, customized content, or targeted promotions based on their interests and behaviors.
But how is this achieved?
Create Feedback Mechanisms
You must constantly tap into constructive feedback and ideas for improving a community site. When your members can provide insights and enact change within the community, they feel more connected.
Make Continuous Upgrades
Communities that are not evolving and changing are going to be left behind. Make sure that you remain adaptable and open to change.
With every improvement to your community, the better it becomes for your members.
Reward Your Members
Recognize and reward long-term members for their commitment. This could include loyalty programs, special perks, or VIP access to events.
Now that we’ve answered the main Google question, “How do you influence member retention?”
What is a surefire way of retaining members?
What Is One Way To Retain Members?
If you’re looking for one single way to retain members, the best strategy has to be to find a way to make your offering a critical piece of the machinery that your clients use to achieve their end goals.
Software does this masterfully. Want to write a paper? For decades, you’ve had to use MS Word. Microsoft had that market locked up. You wanted to write a paper because you needed to get through school to get your degree, and you couldn’t just hand your paper in on the back of a napkin.
How about running a website? I bet you haven’t changed your website hosting in a while… it’s a very sticky business because you need what they offer to run a successful business.
If you can position your offer as a critical tool that’s required in order for your clients to accomplish an important goal, then there’s high retention rates and riches waiting for you.
Now that we’ve highlighted the single most important factor in client retention, what are other five factors that influence client retention?
What Are The Five Factors That Influence Client Retention?
Five factors that influence client retention include:
- Quality
If your product is consistently received by members as a high-quality service or product, they are unlikely to move away.
- Great Customer Experience
Positive interactions with your team, ease of business, and efficient problem resolution will contribute to good member experiences. The better the experience, the less likely they’ll leave your community.
- Build Relationships
Strong relationships built on trust, communication, and understanding will make loyal members, influencing retention.
- Creating Value
Your members need to perceive the value of being a part of the community. As mentioned, providing regular communication, personalized interactions, and rewards will make them feel included and valued.
- Be Consistent
Consistency in delivering on promises and meeting expectations is crucial for client retention. Clients want to feel confident that they can rely on your business to provide the service or product quality they expect.
Read next: What Is The Most Important Factor In Customer Retention?
