This article was also published on LinkedIn.
Customer retention is key to ensuring the ongoing success of your brand, and most importantly your business. The main way to successfully ensure customer retention is through excellent user experience. Over a year ago I wrote a blog on The Importance of User Experience: Lessons From Netflix. In this follow-up, I go through the three key things I’ve learned and how Netflix is still relevant to the Accodex model and the professional services industry.
The 3 key things you need to remember in the world of customer retention:
The customer must understand the value that your products or services can provide to their business. It goes without saying that the number one rule of sales is not to directly sell to the prospect, rather to lead the prospect in revealing to you that they are in need of your product or service. To retain customers, you need to ensure that they understand the ongoing value your product provides to them. For instance, Netflix has been consistently adding new tv shows and movies based on the data they have collected via their rating feature and recommendation algorithm. In the case of Accodex, we are constantly rolling out new features based on demand, for example specific training in areas of particular interest to our partners.
You must set strict guidelines in terms of communication so that there is a clear understanding of what the expectations are for both parties. In order to ensure that your customers have a good user experience, communication needs to occur through the correct channels.
With Netflix, their chosen form of communication is via the notification bell, as well as targeted show previews. They are focused on programmatic advertising with the aim of improving their ability to do individualised marketing at scale and to deliver the right ad to the right person at the right time.
For Accodex, we have inbuilt a messaging system into our platform which allows our partners to communicate with others in the network across Australia, UK and USA, as well as our corporate team in Australia. Utilising real-time notifications and the tagging process mentioned in the previous article, we have ensured that we can swiftly resolve most issues within 48 hours for our partners. For our Partners clients, email or phone calls are the preferred form of communication for any queries outside of scheduled meetings.
The product must be user-friendly. A user-friendly product will have a clean user interface (UI), with complementary colours to enable ease of reading and navigation
In order to increase engagement during prime viewing hours, specifically in the evening, Netflix has chosen a black background with red and white writing, giving it a cinematic feel. They’ve also enabled a slider for ease of navigation between shows and movies within the same genre.
Accodex has invited feedback from the Partners (our key customers) in order to ensure that the UI is optimised for better engagement. From the data we’ve collected, we’ve determined the Partners of who are using the product more frequently have had more success in client retention. We’ve consolidated our menu options to enable more efficient navigation around our solution.
So what do you need to remember? To assure your customers have an excellent user experience, ensure that they understand the value you are providing them, alongside clearly defined communication guidelines and that the product is user-friendly.
If you want any clarification on the above, please let me know in the comments, or fill out the form on my Contact page.
Hickman, A. (2017). Netflix to spend over $1bn in marketing this year – AdNews. [online] Adnews.com.au. Available at: http://www.adnews.com.au/news/netflix-to-spend-over-1bn-in-marketing-this-year#SAvpj6XQoDzkdf8E.99 [Accessed 5 Sep. 2017].
Kleinman, A. (2013). How Netflix Gets Its Movie Suggestions So Right. Available: http://www.huffingtonpost.com.au/entry/netflix-movie-suggestions_n_3720218.html?section=australia. Last accessed 5 September 2017.