October 8, 2015
Bringing in new customers is tough, but what’s easy is losing them. And it is costly too! That’s exactly why those who have gone through the grind of losing their customers, advise businesses across all domains to focus on customer retention.
The difference between a business that grows sustainably and the one that burns out in just a few months is more often than not just, customer lifetime value. With more and more businesses coming into play, offering similar products/services, this powerful metric has become difficult to achieve.
And the only way to keep your customers from going away, is to make efforts towards greater customer retention.
The 3 pillars of Customer Retention
Here are the 3 pillars of customer retention and how to construct them right away:
1. Make Your Customers Feel Special
Customers determine the success or failure of a business. And as easy as they might seem to acquire, the going gets tough when you actually get a product/service to market. Once you have gained a customer, don’t forget to show him how special he/she is – after all, you don’t want him to go away!
- Conduct surveys: Conduct weekly, fortnightly or monthly surveys around your products and services. This makes your customers feel more involved with your business, and also gives you a platform to understand their needs better.
- Proactive customer support: Never let your customer down, especially in times of need. Offer proactive customer support and ensure none of their concerns go unaddressed for longer than 24 hours.
- Customer service surprises: Send out some surprises to your customers every now and then. A simple handwritten thank you note or an occasional offer tailor-made for them is the best way to show them their value to your business.
- Share your values: Interact with your customers more often and share your business values with them. It automatically makes you far more trustworthy by manifolds.
2. Reduce The Effort A Customer Needs To Put In
No one likes a complicated process, and your customers certainly hate it. When it takes them time to understand a product/service, they tend to get flustered and seek alternatives. Reduce the effort your customers have to put in by simply doing the following:
- Onboarding: Never leave your customer’s side after a purchase. Ensure he understands how to use your product/service for optimum results through an onboarding program. Create interactive how-to-guides, schedule calls or simply send an on-field team member to assist them through their first use.
- Be easily reachable: Problems walk in without a knock. Make yourself easily reachable by being offering contact details on the platforms that are most visible to your customers – be it social media or your website.
- Share the knowledge: Don’t shy away from sharing some industry knowledge with your customers. More frequently you share knowledgeable content, the more you come across as a business that follows transparency with its customers.
Also read: Onboarding: How It Can Be Much More Than Just A Welcome
3. Offer Excellent Customer Service
Offering excellent customer service has become a must today. The hyper-informed generation of today no longer seeks only good deals, but also the services they can avail from a business post purchase. So how do you ensure you make the mark when it comes to customer service?
- Be a good listener: Always listen to your customers carefully. Don’t ignore even the smallest of issues they want to convey. Not only will it help you resolve the issue quickly, but also helps you recognize the common loopholes in your products/services and improvise on them.
- Show empathy: Don’t sound like a robot spilling out instructions. Show some empathy while talking to them and let them feel you understand their concerns genuinely. The more you humanize the process, the better your customer service is considered.
- Resolve issues quickly: Most customers seek immediate help. While it might get a little difficult to be there with everyone, try and not increase your response time more than 24 hours.
Also read: 6 Advanced Tips To Improve Small Business Customer Service
Have you constructed the 3 pillars to customer retention success yet?
Latest posts by Vanhishikha (see all)