The key to business is to always continue to grow and improve and one way that business owners try to do this is by retaining as many clients as possible. There are client retention strategies out there to make it easier to do this and it’s important that business owners know about them.
Customer retention should be a top priority since it is much more costly to bring on a new client rather than to profit from current clients. Small business owners have to work harder to do this because they may be more distracted by the startup process and obtaining new clients that they overlook their current clients. Here is a look at the importance of client retention and how to do it in your business.
Why do I need to work so hard at retaining my clients?
It’s not only much more expensive to bring on new clients rather than to make money from existing clients but it’s also much easier to sell to an existing client. Not only should business owners understand this concept but they can use it to their advantage to benefit the business and future revenue.
Start by creating a retention strategy, make sure you are on the same page as your clients and then resolve any client issues to ensure they are satisfied and more likely to continue doing business with you.
Creating your Strategy for Retaining Clients
Once you have a great product or service that customers wants to buy, the hard part is done. You’ve found customers interested in your company and they’ve made a purchase. From here, you need to focus on keeping them around for the rest of their life and referring their friends and family to want the same thing they are so thrilled to have purchased.
The goal from here is to keep them satisfied and sticking with you rather than leaving you for someone who does it better. You have to earn your customer’s loyalty by working for it regularly, being better than the competition and making sure they are always satisfied.
Market to your current client base habitually to make sure they continue to do business with you since they are more likely to do business with you than a new customer who has unlimited other options. It’s also much less expensive to get a current customer to buy from you again compared to obtaining a new customer.
Another part of your retention strategy should be providing consistently good customer service. This is the edge many businesses can get over larger corporations. One way to ensure consistently and great customer service is to use a professional virtual receptionist service for all of your incoming calls. They will provide highly trained receptionist to answer all of your phone calls.
Find out how you are being perceived by your existing clients
Do your clients look at you as a business that is always going to make sure they are happy with their purchase and aware of new and upcoming services or products? Whatever you promise to your clients needs to be fulfilled completely.
Most companies will think they are delivering excellent customer but few customers will agree with that because companies don’t truly check in with their customers to make sure everyone is on the same page. It’s important to understand why your customers follow you on social media too because in some cases it’s just for extra discounts and in other cases, it’s because a customer truly appreciates the work of that company.
If you find your clients are dissatisfied at any time, it’s important to reach out immediately and help to resolve the problem. They are likely to complain about your company more so than to praise your company to their friends.
Don’t allow your clients to contemplate taking their business elsewhere or spreading a bad experience to the world; instead, keep communication open so that you can learn when you are not meeting their standards.
Most customers will walk away unhappy without telling you because they don’t know the right way to complain or they don’t feel that it’ll make a difference. Have your staff following up and reporting issues to be resolved in one way or another with the customer.
If you’re struggling with retaining your clients, you can use these tips for better client retention. The can be implemented immediately, along with providing better customer service by outsourcing your reception to highly trained professional virtual receptionists.