The best customers are the ones that keep coming back; the best of the best also recommend your business to their friends.
If you take pride in your work then you’re likely to have plenty of happy clients, but how can you convert this relationship into regular repeat business?
Customer retention is arguably more important for smaller businesses than it is for larger ones – if it’s done right a company won’t just survive; it will grow and flourish. A study by the Harvard Business School showed that a 5% increase in customer retention can boost profits by as much as 95%. Conversely, acquiring a new customer can, according to corporate consultancy Lee Resources, cost businesses five times as much as retaining a current one.
Here are just a few customer retention strategies that you could consider implementing to keep your customers loyal.
Exemplary customer service
Go above and beyond when dealing with your customers and they might just share their positive experience with family and friends. This means responding to queries quickly, not pushing them from pillar to post, and delivering to their deadlines.
Communicate regularly
It almost goes without saying that if you speak with your customers regularly – but not to the point of spamming – they won’t forget about you. This means developing a communications calendar – from saying thank you to launching special offers, customers will enjoy hearing good news.
Get personal
People love receiving personalised customer service. Why? Because it shows that their custom is valued. This can be implemented in person, obviously, but also online. If your business has a website, for example, consider using personalised homepages – eBay and Amazon being the shining examples.
Tell customers what they want to hear
Some words – like new, instantly and, of course, free – have the power to make clients sit up and take notice. Phrases like I can solve your problem and I appreciate your business are equally powerful in the customer service realm.
Take advantage of complaints
When a customer complains they’re also giving you an opportunity to satisfy them – do this and they may buy from you again. Deal with their complaint efficiently enough and you could even increase their sense of customer loyalty towards your business.
Remember, businesses still need the human touch, and service with a smile can certainly go a long way towards keeping your customers satisfied. If you keep your customer at the heart of everything you do and keep your strategy focused on customer retention, they’ll have every reason to stay loyal to your brand.
