Use these Best Strategies for great Client Retention
With so much competition in 2016, companies need to make use of effective strategies to avoid losing their clients.
Research has shown that:
- “82% of consumers have stopped doing business with a company because of bad customer service. (Zendesk)
- 95% of customers share bad experiences with others. (Zendesk)
- 79% of high income households avoid vendors for 2+ years after a bad customer experience. (Zendesk)
- 62% of customer service organizations view customer experience as a competitive differentiator. (Deloitte)”
There are certain strategies that you can employ as a business owner in order to retain your current client base:
In order to retain your customers, you need to know whether they are satisfied with your service. The best method to use is an anonymous satisfaction survey. You are sure to receive honest feedback from your customers which you can use to improve your service.
Satisfaction surveys should be concise and simple. You are more likely to receive a response when customers feel that the survey will not intervene with their normal day operations. Surveys that request the clients to download documents, fill them in and email them are unlikely to receive a good response rate.
Some clients leave for another competitor because they are not satisfied with the quality of your product/service. According to a study conducted in 2015, 86% of clients are prepared to pay up to 25% more for a better customer experience. This implies that pricing is important, but not more important than quality.
Focus on providing a good quality product/service. Remove any bottlenecks within your system, streamline your processes and give your customers more than what they paid for.
Every consumer enjoys a good giveaway. As a consumer of products and services myself, giveaways have sometimes swayed my decision to remain with a certain supplier.
The most effective giveaways are discounts, trial periods and gift cards. Ensure that the free product or service is in line with your market- giving a free handbag for an IT company will most likely not attract the right attention.
Organizing events such as annual dinners can make your clients feel valued. When organizing an event it is important to ensure that you do not go over budget. You can request your clients to bring one person to the event. This can result in new client attraction.
Another strategy to retain your clients is to engage them with unique, quality and consistent content. You may do so through newsletters, blogs and podcasts.
Clients who are regularly engaged do not have the urge to look elsewhere.
Personal Cards and Emails
Clients want to feel valued, not like another number in your business book. One effective strategy is to send personal cards or messages on birthdays, anniversaries, weddings and any other special occasions.
This strategy is easy to employ with software that can inform you of a client’s birthday. As your client book increases, you might want to employ an administrator to handle this part of your business effectively. Automatic messages/emails do not work as effectively as personal messages because clients are aware that they are automated.
Client retention is a strategy that all companies need to focus on this year. For more effective ways on how to be more competitive in 2016, visit our blog post here How to Gain a Competitive Sales Advantage in 2016.