You don’t have a business if you don’t have customers, and customers do business with people.
That is why it is so critical to have customer retention strategies in place.
Many small business owners are so busy trying to manage and run their company that they don’t spend time getting to know their customers and nurturing the relationship.
Sometimes, leaving the customer relationship up to your sales reps can be detrimental to the business.
If your representative had to leave the company, the customer would have a strong chance to go with them.
Suppose your business model is to get new customers all the time, and you do not have a retention strategy in place.
In that case, your marketing fees will be exorbitant, and it will get pretty exhausting to continually be sourcing new people to buy your product or service.
By looking after your existing customers, you can instead look at up-selling, cross-selling, and incentivising them for referrals to grow your business, which would be far cheaper than continually looking for new clients each week.
Customer Retention strategies
1. Build personal relationships with your customer base
2. Instead, outsource the in-house admin to free yourself up to call/meet with customers regularly
3. Make your relationship / call unique and not always about a sale
4. Incentivise your customers to share their experience with you
5. Cross-sell to your existing customer base
Measure your successes and retention as if it is gold. The better you retain good quality customers, the more successful you will be.
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