Do you have a customer retention plan?

Have you reviewed your customer relationship management strategy recently? Do you even have one? 

 

Making sure you keep your customers happy and engaged is a key business strategy. We’re delighted that so many of our customers come back year after year. We do everything we can to make sure their needs are met and they know how much we value their continued support. 

 

Here are a few things we’ve learnt along the way. 

 

Take customer retention seriously. Maintaining good relationships with customers helps make sure they continue to choose your products or services. This means you must: 

 

Depending on your industry, it can cost up to five times more to gain a new customer than it does to keep your existing ones. Your existing customers are also more likely to try your new products and to buy more each time they place an order. So, the effort you put in to looking after your customers makes really good business sense. 

 

Make a good first impression. To turn new customers into loyal ones treat them as individuals. You know their names and what they have bought from you so use this information when you contact them. Confirm what they’ve told you and ask if there’s anything else you can do to help. When you find out about their preferences and needs you can improve their experience and build a relationship. 

 

Listen. Your first and most important priority is to provide outstanding service. However, it’s always a good idea to check you know what that means for your customers. If you make changes as a result of customer feedback, thank them for their input. Always invite them to let you know what else you can do to improve. 

 

Exceed expectations. The idea of ‘customer delight’ has been around for over 25 years. When you surprise your customers by exceeding their expectations you can create a stronger connection with them. This helps build loyalty to you and your business. It could be as simple as a handwritten note included with your invoice or an occasional free gift. 

 

Run a loyalty programme. Rewards, discounts and exclusive incentives encourage your customers to continue buying from you. Based on their previous orders, you can send helpful reminders when they need to restock. If their orders are seasonal you can send them a greeting card and ready-completed order form. 

 

Offer subscriptions. Once you have an established pattern of customer purchases you can invite them to join your exclusive subscribers club. They can receive regular deliveries of goods or services without any effort at all. You can even offer a discount if the whole process can be automated. You’ll increase their loyalty and reduce the likelihood they’ll go elsewhere. Offer some extra loyalty points with their orders so they can receive bonus discounts or offers. 

 

Be present. Your competitors are looking for customers just like yours. Having a strong brand and consistent communication in your customers’ favourite publications keeps your business fresh in their minds.