15 Smart ways to retain your customers

Last Updated: June 6, 2012By Tags: ,

Whether you are a start-up or an established business, you certainly have customers who pay you. However, how to retain customers is a worry for everyone. Competition is huge and if you are unable to retain customers, your bottom line will be affected. Customer retention should be an enduring practice and mostly this becomes the key to long-term success of your business. Believe me, you are not the only one offering whatever you have to offer to your customers. For this reason I have outlined 15 ways that might help you retain your customers. Hope you find them useful.

15 Smart ways to retain your customers:

  1. Give a special incentive to most active customers on social networking sites of new customers (t-shirts, caps, certificates etc).
  2. Identify your most at-risk customers and target them for additional contact.
  3. Do a survey of your least active customers. Let those who respond know that you are listening to them by telling them that you will try to do what they suggested on the survey.
  4. Get customers involved in focus groups by email or blogs (new customers may prefer this type of involvement.)
  5. Have a new customer designated contact group.
  6. Create a “thank you” list that includes the names and contributions of active customers. Place this list in your newsletter, magazine, on your website, and read it at special events.
  7. Send a special communication and possibly a small token gift to each customer who resides in regional or country areas thanking them for their continued participation and loyalty.
  8. Make a file of those members who have dropped their membership in years past and send them a “We Want You Back” letter. Include the reasons they have dropped in the file.
  9. If you organise conferences and seminars it is vital to have your sales and admin staff to socialise will the event attendees. Your staff will gain new insights while they engage in meaningful conversations with members.
  10. Ask active members to relate their most valued experiences or benefits and use those statements as quotes for recruitment and retention purposes.
  11. Select a group of less active members as a focus group and give the group a specific task.
  12. Make your newsletter more user-friendly. Ask customers to submit/write an article about their experiences for the newsletter.
  13. Invite customers to join online forums and discuss non-work topics such as their passion and hobbies.
  14. Create and send out a “Thanks for being with us” letter or card to each customer when you get repeat orders. Include a discount voucher for the customer to use for attending upcoming events.
  15. Recognition helps retain customers. Create some sort of awards. Find unique ways to give more individual recognition to those valued customers who deserve it

Keep a positive attitude; it increases energy and each customer’s self-esteem.

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To achieve better sales and profits, most companies could be doing more to cultivate business from their existing customers. However, enthusiasm for customer-retaining strategies must not endanger sound customer-getting efforts. How companies balance the two is the big question. To intensify reaching old customers while still seeking new ones, for many firms, will mean changes in market analysis, planning systems, management incentives, and marketing and/or operations organization. In the rush toward growth, consumer marketers have tended to regard success as stemming from obtaining new customers while unwittingly minimizing the importance of satisfying old ones. It is time for more companies to distinguish between their getting and retaining functions, to assess the balance between them, and to remedy any deficiencies in customer retention. This process requires management to value the potential of current customers and to treat them in special ways to get them to keep coming back. Several major elements should be part of the new marketing mix for customer retention: Product extras Keeping customers frequently requires giving them more than the basic product that initially attracted them. Product extras for individual customers over time can play a sales-expansive role. Reinforcing promotions Product promotion works better when aimed at existing customers. If a marketer knows who these customers are, benefits can be obtained by giving them reinforcing communications. Sales force connections The sales force can play a decisive role in the customer-retention function. At a retail or service counter the salesperson is the focal point of the company's strategy and is the firm to the customer. Post-purchase communication A company must anticipate that some customers will encounter either minor or serious problems after purchasing. If the firm is not ready to hear and correct these difficulties, the customer may not repurchase  or may cancel the the relationship. Whether company or customer is at fault, standby post-purchase activities can be instrumental in saving these customers.

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