Friday, 9 October 2015

Effective Ways For Customer Retention

Customer retention is vital for the survival of your business, making excellent customer service a top priority. Attracting and bringing in new customers is difficult, but losing your existing ones is rather easy and not so cost effective. A change of approach from product centricity to customer centricity is one step towards effective customer engagement, retention and brand loyalty.

How can it be achieved?

1. Make sure you keep your customers happy - A happy customer is a more loyal customer. Simple surveys can help you track customer satisfaction and get feedback on how you are performing, whether your service meets your customers’ expectations or there is still room for improvement. Listening to these feedbacks and considering your customers suggestions can help develope your business, improve service, make positive changes and retain customers.
2. Make life easier for customers - Reduce the work they need to do to get their problem solved. Make it extremely easy and straightforward to get in touch with you to get the support they need.
3. Excellency in customer service - Support your customers and become a trusted advisor.
“You must understand and appreciate exactly what your clients need when they do business with you—even if they are unable to articulate that exact result themselves. Once you know what final outcome they need, you lead them to that outcome—you become a trusted adviser who protects them. And they have reason to remain your client for a lifetime.” - (Jay Abraham - Getting Everything You Can Out of All You've Got: 21 Ways You Can Out-Think, Out-Perform, and Out-Earn the Competition)
Make your customers feel cared for. Good customer support can increase loyalty and motivate customers to do more business with your company. It is also very important to use the right words and empathy. If things do go wrong, make sure you recover well from service failure. Using the HEARD technique of The Disney Institute in these cases can help you prevent your customers leave with a bad taste in their mouth.

Using the right mixture of retention strategies can prevent customer churn, grow your business, increase revenue and keep your business ahead of the competition.

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