Why would anyone sabotage his own business’ chances of making it to the top of its industry? I’m sure you can think of no reason why anybody would want to do that. Unfortunately, many businesspeople make big mistakes in their customer retention strategy and make it difficult to retain their customers. This reduces the lifetime value of your customers, meaning lower revenue than that which you normally should have.
Also, poor customer retention strategy makes referral marketing a task that is almost impracticable, as there are no many loyal customers who are willing to stick around long enough to convince their friends to do same.
In this article, I will shine the light on some of the mistakes that you are probably making in your business that is making it difficult to retain your customers for long.
Not Using a Good Sales Funnel
Most people do all the work to get customers through the door, and purchase their product, but they fail to re-engage these customers with a good upsell. For example, if you are a dentist, you probably have majority of your customers come in only when they have a toothache. When you help them solve that problem, you collect payment and they are gone, never to be seen again until they have another toothache.
You can create a product that enhances the beauty of their teeth or prevents further issues and try to sell them on why they should use that product even after you are done with them. You can create referral system that allows them to register their friends for a little benefit like a free checkup from you. Whatever you do, you must continue creating value to your customer or they’ll walk.
Not Creating a Good Communication Channel
A happy customer is one who gets much value from your services, and one who is kept in the loop. Your customers want to hear from you as often as possible, or they’ll move on. A good customer retention strategy involves going the extra mile with customer communication. Send them emails, and always be open to answer their questions whenever they have any.
Not Creating a Reward Program for Loyal Customers
You must find a way to reward your most loyal customers, the ones who stay with you for long. Give your customers a reason to stick with you for long by giving rewards to the longest customers and the most active. Such incentives create happy customers, and happy customers stay for long.
Not Working on Creating a Great Customer Experience
Sometimes, it is not what you do but the way you do it that matters. You may provide the best service in the world, but if you do not make the customer feel good and trust your service, they are likely to walk. Like Maya Angelou said: People will forget what you said and what you did, but they’ll never forget how you made them feel.
Create a good impression in the mind of your customer by making them feel good about working with you, and not only will they stay longer, they’ll convince their friends too. Live response allows for a good customer experience by bridging the gap between your customer service reps and your customers in real time.
Visit Xeno to get started with live response today.
Going the Extra Mile with Customer Communication Helps Bring Everything Together
Majority of your plans and strategies for customer retention will fall on infertile soil without good communication. How can you know what the customer wants, and plan to give it to him if you do not ask him first?
Work on creating a good feedback response system with your customer (you can use live response with Xeno) and you will get all the insight you need to create the best customer retention strategy that keeps customers for long easily.