Ask any owner of a small business, and they’ll tell you: it is a lot costlier to acquire a new client than to grow and retain an existing customer. But most businesses still place a lot of emphasis on obtaining new clients through marketing, advertising, and sales, but pay very little attention to their actual strategies for customer retention. Companies promote the sale, make the sale then leave their client behind, to blow in the wind.
Customer retention shouldn’t just be high on your priority list, it ought to require actual strategies in mind. Thankfully, there are methods of keeping your present customers satisfied, happy, and returning for more. Here are 6 tips for better customer retention.
Make sure you follow through on sales pitch
The fastest method of losing a customer includes making a promise in a sale, and not following through once the customer has signed on. While it may seem easy, most businesses oftentimes fall short on following through with their sales pitch. Instead you should record and track what sales persons include within their conversation, in order for clients to never feel deceived.
Establish realistic expectations
When you walk prospects through your services or products, establish realistic expectations for yourself and your business. For example, customers may become upset because they think the company may immediately deliver on X results, when realistically those results might take months. In clearly setting expectations, customers know precisely what they’re signing up for.
Create perks within the customer experience
Shoppers like to feel appreciated; therefore, be intentional about creating perks all throughout the customer experience. For example, if a shopper invests in a set of business cards from a business, the company could toss in a perk for the shopper with a free card holder. Small gestures such as this create a positive experience for the customer.
Set up a loyalty program
A customer loyalty program, when in doubt, always is an excellent method of increasing retention rates. The programs reward loyal customers for buying from you by offering them incentives to keep returning. Once customers opt-in to your loyalty program, make certain that you provide them the royal treatment with free prizes, discounts, and special deals.
Experiment with strategies for email marketing
Email marketing will play a big part in customer retention, which is the reason why it is vital to steadily experiment with your email strategies then check which strategies customers respond to best. Discover what email strategy boosts customer engagement in order for you to better customize the content and product recommendations in order to keep customers returning.
Lastly, be sure to regularly communicate with existing clients. Check in with the client to verify how they enjoyed the service or product they invested in then share with them all upcoming deals or opportunities to try out new items. Use an effective system for reporting and tracking customer metrics, in order for you to be in consistent contact whenever clients need it.
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