According to Entrepreneur.com it is 5x more costly to find a new client than to maintain your existing customers. Happy customers are also a great source of advertising. Personal referrals are excellent for growing the business and being more profitable. Consumers and clients are the heartbeat of all businesses, so performance improvement to their standards should be a priority. Our team has identified five ways that can help retain current clients and keep satisfaction levels high.
- Communication- You’ve all heard the saying “Communication is Key” or “It was a miscommunication” when something didn’t go according to plan. Communicating makes everything easier. Let your clients know they’re important by connecting regularly and replying promptly (Emails should be answered in less than 24 hours). Anticipate issues that may occur and address it before they do; this shows that you are on top of operations and transparency.
- Consistency and Accountability- One of the most important aspects of running a good business is your consistency. Your product, performance, and service should maintain a consistent delivery with the highest standards. Be accountable, with both negative and positive feedback. If a client expresses satisfaction with your company, let them know that this is your goal and you strive to keep it that way. On the other hand, if the opposite is expressed, take responsibility for your company’s part and thank them for their feedback. Run through the process and update it based on your findings that led to a negative review. Always remember not to overpromise.
- Add a personal touch- Remembering a birthday or writing a handwritten thank you letter can strengthen an existing relationship. It doesn’t hurt to take a few minutes to make someone feel special.
- Value your client’s point of view- Create an active feedback operation that allows clients to communicate their questions, ideas or concerns. An annual survey is always a great way to hear from your customers. Their point of view is the most important when exploring opportunities to grow and improve.
- Be the expert- You were hired for your product, service, or knowledge. Know what you offer well and educate yourself on similar industry topics and current issues. Strive to be the best in your market and clients will feel confident to give you their business.
If client retention is not satisfactory, it may be wise to hire a 3rd party to access and determine the best solution for improvement. Furthermore, there are services that will provide additional training to your current client services staff.
-By Didiana Duque