Most businessmen are aware of the fact that it cost a great deal more to acquire new customers than it does to retain your current ones. For that reason, you should focus much more on your customer retention program, than on investing any money to acquire new customers.
Here are some ways you can increase your customer retention.
Follow up on your sales pitch
It’s a good idea to get in the habit of following through with customers after an original sales pitch has been made, and the customer has made a purchase. This will clarify for both parties exactly what has been promised, and what the customer should expect.
Meet customer expectations
As an add-on to the follow-through process with your customer, you should also make sure that you are meeting the customer’s expectations, as originally agreed to by your salesperson. Any promises made to the customer should be documented, so that the customer’s expectations are met, and they are very satisfied with the service which has been provided.
Support your clients
Especially if you’re in a B2B business, you should support the goals and objectives of your clients to the greatest extent possible. This means being a brand ambassador for clients when the opportunity arises, and possibly connecting your clients with other businesses which might want to avail themselves of your client’s services. If your client wins any kind of award, make sure to mention it to colleagues and to your client’s customers.
Make use of automation
If you have a great number of clients, it’s probably easy for you to become involved in day-to-day details so that you forget to follow up with them, and that’s when automation might be a good answer for you. By scheduling automated emails which you can send out to clients, you can maintain a good relationship with them, and achieve greater customer retention as a result.
Is customer retention a problem for your business?
A good customer retention program can be far less costly than a program which involves acquiring new customers. Contact us at Bear River Financial if you are in need of funding to implement your own customer retention program, so you can avoid the costs associated with finding new customers.