It’s been said that the cost of generating new clients is five to seven times more than working with your existing database. Yet many business owners put much of their energy into attracting new business rather than nurturing relationships with clients right in front of them. Your existing clients are the oxygen of your business, not a means to an end. So it’s important to look after them.
Here are five tips to help you with customer retention.
Instead of focusing on closing sales, look at your potential customer’s needs, wants, goals and challenges. If they are a business, research their industry and get to know the products and services they offer. Identify their biggest frustrations and any obstacles that are stopping them from getting to where they want to be.
Ask questions and listen carefully about the problems they’re encountering and look for ways your products or services could assist them personally in achieving their goals. By showing you’re genuinely interested in helping customers reach their goals, you will in turn achieve yours.
If you treat your customers like dollar signs, ignore what they want and need and don’t value them, they’ll have no loyalty to you and you’ll lose them to the next competitor who offers cheaper rates or better customer service.
People do business with and continue to stay with those they know, like and trust, so take the time to build an ongoing relationship with them. Learn your customers’ names, preferences and interests. Remember key information about them to easily start and engage in conversations with them and also let them know you care.
Want more articles like this? Check out the business relationships section.
Have you ever walked into a store and had to wait while a staff member continues to talk on a personal call, to another sales person or keeps doing their work? Have you ever sent an email to or left numerous messages for a service provider only to have no response?
It’s a horrible feeling! It’s also a guaranteed way to see your hard-earned customers up and leave you for a competitor. Be sure to pay attention to your customers, greet them happily and serve them willingly. Treat them like they are the lifeblood of your business – because they are.
Give more than your customers expect of you. It could be as simple as taking the time to answer all of their questions or find out the answers, even providing a comprehensive follow-up service so they get the most value out of their purchase. For even greater impact think about what you can give your customers that they can’t get anywhere else.
Meeting deadlines, honouring commitments and following through on what you have said is an essential part in keeping your customers coming back. If you provide high-quality, reliable products and services that achieve consistent results – and do it with great customer service – your customers will never have a reason to go elsewhere.
It is important to remember that customers aren’t an inconvenience, interruption or distraction; they are the most important people to your business and, indeed, the very reason you have one.
Customer retention is very important! How do you keep your customers coming back again and again?
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