Customer retention is one of the key factors when it comes to running a successful business. The biggest difference between companies that grow and those that don’t is customer retention. Customers are any business’s most important asset and it’s quite expensive to get new customers than to retain old ones.
It is estimated that it is 6-7 times cheaper to sell your product to an existing customer, that’s why the more customers you can keep and continue to sell to, the more likely you are to achieve your business goals. The biggest challenge for companies lies within where to begin. Below we share 5 practical strategies you can use to keep your existing customers happy over the long-term and increase your profits.
Excellent customer service
The first and foremost way to satisfy your customers is by making them feel valued that could be done by providing them full attention whenever they are in a need of help. When on-call, show eagerness to help politely. Always allow enough time for customers to let them finish before you say anything. This would help you understand their issues properly and you may ask any clarifying questions afterward to make things clear.
Always avoid interrupting the customer while he is speaking as you won’t be able to understand if your mouth is open at the same time. Doing so would give them an idea of how their problems are being heard and that their issues will be taken care of. Moreover, keep a close eye on your customer care department and provide them with intensive training on how to handle customer’s issues promptly. They should be taught to handle any queries politely.
Once the issue has been resolved make sure to ask for the feedback, that is a great way to leave an everlasting impression. Even bad feedback will prove to be beneficial for you in terms of finding out the weak points in the service area that can be improved later or can also help to upgrade your product. All successful companies follow the same footprint and train their staff accordingly.
For instance, if you call any of the ISPs, you will come to know how well they manage to handle customer complaints and queries. If you want to get an idea, just dial Spectrum phone number to know how they put their client’s queries at the utmost priority and make their customers feel valued. This act shows the appreciation your customer deserves for being loyal to you.
Keeping in contact
Keep your customers engaged and in touch by sending out new promotional coupons, updates of products, rewards programs, or any other stuff you think they might be interested in. Even a small gesture of goodwill (sending out birthday or anniversary wishes) can leave a big impact on the customer’s heart. Try to stay ahead by figuring any challenges they might have in the future and suggest new solutions to them. Don’t be hesitant to reach out to an old customer you haven’t heard from in a while.
Social media can also be utilized to build trust by presenting the personal side of your business. It helps you monitor your customer’s opinions, interest and motivations. It is a great platform to change the negative conception your followers may have by providing great CS. There are a ton of other ways to keep them connected to your business, even if it doesn’t generate immediate sales, they’ll go a long way toward keeping your brand first in their mind.
Personalization
The vast majority of the customers place as much significant worth on the quality of your service as they do on the nature of your product. About 70% of buying experiences are dependent on how the customer is being dealt with. Therefore, it is highly recommended to make your business an amicable and pleasing partner in your customer’s eyes. Loyal customers should be recognized by their name or contact number and show appreciation by offering special discounts, coupons or even thank-you notes. Invite them to forums or ask for feedback to let them know you esteem their opinions.
Take responsibility
Honesty is the best policy, therefore admit to your slip-ups and apologize whenever something goes wrong from your end. This builds up the trust relationship and demonstrates credibility. It also boosts up your customer’s confidence in how your company is willing to address defective procedures and prevent future missteps. After all, your business is as good as the reputation behind it. Furthermore, make sure your customer support is consistent in building up the image you want to convey. Try not to take too long to even think about responding to client issues.
Keep up with promises
Keeping your promises and fulfilling them timely is the ultimate sign of professionalism in any business. It is better to promise what you can deliver and avoid overpromising with any vague statements that could turn out to be an ache in the head fulfilling it. It is not about making new customers rather it is more about retaining old customers. Doing so builds up the trust and conveys the message of keeping up with your brand promises that make a company stand out.
Conclusion
The aforementioned features are the main factors that assure maximum customer satisfaction which results in retaining your customers and achieve business goals, and targets. Once you can make your consumers realize that they are being valued, you will be able to win their trust and would make them loyal customers of your business. Therefore, if you improve your customer service, you will be able to make your business prosper.