Retaining current customers is of paramount importance to any company operating in the business-to-business sector, as it can be much cheaper to keep a customer than acquire a new one. This measurement of satisfaction is extremely relevant, as efforts to replace lost customers can significantly eat into your profit margin.
While most organizations claim to prioritize customer retention, many marketing professionals spend a greater amount of time on the acquisition of new clients. It’s always good to grow your client base, but you shouldn’t do it at the expense of your existing customers. A better strategy is to have your promotions, sales and support teams working together to provide a complete experience that’s beneficial to current and future patrons. Here are a few strategies to help maximize repeat business.
You’re much less likely to lose a client if your business matches perfectly with his or her needs. If you’re pitching your wares with the angle that your customer can adapt to strengths and weaknesses of your products, it might not be the best fit. Learn your customer’s goals and then explain how your company can help in the achievement of each milestone. If you set unrealistic reputations, you’re putting yourself at a disadvantage when it’s time for a patron to resign.
Take the Initiative in Communication
Strong relationships are a major ingredient to repeat business, and it starts with effective communication. You obviously need to provide a quick answer when a customer has a question, but you should endeavor to be more proactive. Foster the relationship by reaching out regularly on a number of different topics:Strong relationships are a major ingredient to repeat business, and it starts with effective communication. You obviously need to provide a quick answer when a customer has a question, but you should endeavor to be more proactive. Foster the relationship by reaching out regularly on a number of different topics:
- Questions or concerns about your product
- Information on software updates or new services
- Tips and tricks on how to more effectively use your service
If you’re losing customers, it’s important to do research to find out why, but you need a plan on how to implement this information. If you use customer service software or customer support software to track interaction with clients, include reasons for client dissatisfaction so you can locate patterns and put a stop to it with new products or services. Your studies don’t have to focus solely on the things you’re doing wrong, as you can also learn more about the ways you’re pleasing your patrons.
Set the Standard for Support
Your customers have placed their trust in your products, and you need to stand behind them with a full suite of support services. While it’s good to have a fully-staffed helpdesk available to answer questions in a timely fashion, you could also send representatives out into the field to provide on-site assistance with cloud help desk software. If a client knows that help is available whenever it’s needed, they’ll be much more likely to stick with your company.
Today’s marketplace is highly competitive, and it’s easy to lose valuable accounts to a competitor that’s more proactive. By giving appropriate attention to your existing customer base while also attracting new customers, you’ll be doing your part to ensure a steady profit margin for the future.