15 ways to retain customers your business relationships and how improve our customer retention.
What percentage of your customers are indifferent in what you are offering and treating them? Start with #1.
1. Figure out the the lifetime value of your customer so that you could offer incentive packages to retain them.
Often a customer is 20x more valuable than a new customer, considering the cost of acquiring new customers. The lifetime of a customer can vary, like Lexus might be $600,000; Taco Bell values each customer at $12,000.
2. Draft a promotional timeline while taking into account the special events and days on the calendar, the holidays are come up throughout the year.
3. Stay innovative on what is available to help you retain your clients and what your client likes. Personalization.
4. Monitor what your competitor is doing, if you aren’t looking after your customers, then your competitors are.
5. Always do follow-ups with clients, whether it’s to get their business, if they received your proposal or if the service you gave them is what they expected.
6. Offer your clients a Free subscription or updates or reports or e-books
7. Always answer your clients questions within a reasonable time frame. 24-48 hours
8. Make it easy for your client to get a hold of you
9. Send your clients a Thank you – note, card or video, to show your appreciation.
10. Always deliver more than you promised. Be memorable.
11. If you make a mistake admit it, and offer an solution
12. Create special events and invite your customers to attend, such as Picnics, Meetings, Workshops, Webinars, Parties etc.
13. Offer a membership or payback of 5% on purchases that they make, at the end of the year, you can send them a check back. Just like Costco or REI does
14. Pride your business on exceeding your clients expectations, follow what some of Hotel offer do to get their guests to come back.
15. Offer a customer support program/service.
It’s all about CARING, Retention and instant gratification, and there’s nothing like brand loyalty. “Every customer that walks in is an opportunity, and every customer that walks out without evaluating the offer, is an opportunity wasted”.
What kind of things or actions are you doing in getting new customers?
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