Did you know that keeping
your existing customers happy is a lot more cost-effective
than gaining new ones? It’s time consuming and expensive to
research, find and contact new prospective customers and build a
relationship with them. You also have to assess their wants and
needs. You already know, more or less, what makes your existing
customers tick; you just have to build on those wants.
Experts say nothing
facilitates customer retention better than repaying your existing
customers’ loyalty with gratitude. These days, merely displaying a
"Thank You" message after customers sign up or leave a
comment on your website simply won't cut it. You need to step up your
game and tell your customers that you appreciate their continued
patronage through concrete ways.
For instance, you can send
custom business "Thank You" cards along with some little
tokens or goodies. After all, who doesn’t like getting nice little
gift or reward? Better yet, send your best customers personalized
cards along with vouchers to show how much their loyalty means to
you. You can also ask them to contribute new ideas for your business
and suggestions to make your processes even better.
Focusing on just 5 percent
of your current clients, experts say, can increase your profitability
by as much as 75 percent and help you cut costs at the same time.
Therefore, it makes sense to implement tried-and-tested customer
retention strategies.
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