All small and big businesses try to retain their customers. With rising customer acquisition cost, business needs to innovate new ways and proactive in taking new roles in retaining new clients. There is no doubt more time consumed in convincing a new client than generating a new business with your existing client. That is why it is always advisable to pay more attention to the existing relationship and retain your best clients. By focusing more on your present clients, you will increase the value of your service and this will ensure more future project come your way.
Before discussing the customer retention strategy we would like to discuss the reason behind why general your customer leaves you. According to a study, some interesting facts revealed about consumer behavior and thinking:
- 68% leave because they are unhappy with the service they receive.
- 14% are unhappy with the product or service.
- 9% decide to use a competitor.
The following are the few rule of thumbs which will give guidance to any start-up or business on how to retain customers that they address. Here the guidelines will address the above problems and provide actionable tips for retaining some of your best clients.
1. Understand the client needs:
Your company might be offering a wide range of service. But you need to understand here client’s need and which of the services will help to attain his or her goal. Deliver only those service to the client. Don’t oversell. The additional service that you offer will not going to impact client’s decision and this may ultimately jeopardize your relationship with the client.
2. Service should match client’s expectation:
When you sending a proposal to your client, be sure to mention clearly the deliverables that you will provide. It is imperative to work according to the what you committed. It is critical that you set expectation up front and the client understands what and how you deliver your service. At the end of the day client, it is important to show a client the progress towards the end goal.
Clients remember the negative experiences more than any other thing. Even if you over delivered several times in the past but if at any time in the past you not worked according to your commitment – your client undoubtedly quotes that negative experience to cancel his or her relationship with you.
3. Get appreciated by adding some more values to your service:
Step down from the conventional way of providing service. Always go out of your ways to provide more values to your service by going beyond your scope of service. Send a blog article or a research article that you know your client might be interested in. Your efforts will be greatly appreciated and noticed by the client. This is also a strategy to build a long and trustworthy relationship with your client.
4. Be realistic. Never over promise your client
A bad mistake of a vendor is to make a promise and at the end fail to keep that promise. For this your client will lose trust on you and doubt will be created in the mind of the client. It is best to keep your deliverable realistic and try to deliver more than what is committed. For this client will appreciate your effort.
5. Build relationships online:
In the age of social media building relationship with clients no more a difficult task. Your clients are online, so let start to build a relationship with them. With the rise of social media, communicating with clients through social media makes sense. Build profiles in social media platforms like Facebook, Twitter, and Linkedin. As a majority of your client will have an account on at least one social media use this opportunity to build a trustworthy relationship.
The above-discussed customer retention strategies will empower you in strengthening your relationship with your clients. The main takeaway is to be proactive with your clients. Following the above points will build goodwill of your company and also show that you respect your client’s time.