What Are You Willing To Do To Retain Your Customers?
“It takes months to find a customer and only seconds to lose one.”
– Catherine DeVrye
Nothing hurts a business more than losing valuable customers. A few customers defecting to your competitors is expected and can be handled but if this small number begins to increase drastically, then a business might as well put a noose around its growth prospects. Luckily for them, all hope is not lost.
A company must keep a close eye on their percentage of customer retention. A rapid decrease is a warning sign that they are doing something wrong and immediate attention is needed. But, what is it that these companies could do to bring back their beloved customers to them once again? If you too are in the dark as the next person, then you are in the right place because from here on out, we’ll give you some amazing ideas so that you can retain your customers for the considerable future.
1. Don’t Slack On Your Selling Duties:
It is one of the most common mistakes on part of businesses. They fight tooth and nail to impress a new customer and once they succeed, they leave them in search of another. Remember that a customer’s attitude is very volatile; they need a reason to stick around. Lack of attention and better offers drive them to look somewhere else. The key is to sell and sell again. Treat each customer as if it was their first time dealing with your business, no matter how old or loyal they are.
2. Maintain The Integrity Of Your Products And Services:
A business must stay far away from questionable ethics and loose morals when it comes to selling products and services. No business has ever survived the long-term race with these methods of operation. A business must put all their focus and attention on providing excellent services to their customers. Also, there is a matter of competition. Competitors are just waiting on the sidelines for a clink in the armor. One wrong step and they’ll take over and won’t hesitate to drag a business’ weakness to the marketing channels and drive their customers away.
3. Give Them A Proof:
It’s only human to judge and most of us do it without experiencing it firsthand. So, if a customer happens to hear a bad review about a business, then they’ll stay away from it for life, unless they hear otherwise and from a person they trust. A vast majority from the general public will also have the same effect, and social media is the perfect platform for that. A business must ask its loyal customers to leave honest reviews on the page. Testimonials go a long way in impressing even the most difficult to impress people.
4. Become Generous:
If a business is really committed to serving its customers, then it won’t hesitate to show a little generosity to them. Besides, it’s a pretty safe investment to do so. Discounts, offers, gifts and any sorts of freebies lure the customers in and once they get a taste of your high-quality products, given that you paid attention to the second tactic, then they’ll stay yours for a long time.
Apart from the above mentioned strategies, a business must make sure they shape their marketing campaigns around offers, products and words that customers want to hear.
April Salsbury, MBA is a strategist, an analyst, an operational guru, a recognized leader and C-suite global healthcare executive with drive and focus for competitive markets. Co-host of The Business Forum Show and regular contributor to various business journals, she possess multi-functional and multi-national competencies with more than 15 years experience in business and healthcare. Her expertise is in invigorating revenue growth and infusing value of lean practices in growing companies through improvements to cash flow and operations management.
Fueling revenue, growth and profit, Salsbury & Co. is a consultancy firm focused on helping businesses and healthcare organizations achieve excellency. Our specialists have executive experience combined with deep functional expertise to provide our clients with services that drive real impact and results.
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