An average business loses almost twenty percent of its clients per year by simply failing to attend to their needs. In some organizations, this leakage can reach as high as eighty percent. The cost in either case is staggering, but few companies understand this implication. There are various customer retention strategies that will cost the business little or nothing to apply.
Stopping leakages is simply the best way to go when retaining customers. Many organizations invest in enormous expense, time and effort building a relationship with their clients and once that has been achieved, the relationship is left unattended. In worse case scenarios, once the sales have been made and revenue generated, the businesses lose interest in taking care of their customers.
For many businesses, generating large revenues is usually top of their priorities. As a result, after making an excellent initial sale, the organization tend to be complacent thus ignores its customers in the event of chasing more business. However, this needs not to be the case. The enterprise owner must always remember that his customers will always define the success of the business.
Therefore, in order to remain locked within the same sale or even go higher; the business should strike at the point when the iron is actually hot. The workers of the organization must allay the fears of the consumer and show them that they still care for their needs and requirements. This will mean constantly reminding them that their choice to work with them is the right one.
It can be really time and effort consuming if the company decides to direct the resources of the business towards capturing new customers. When leakages occur, it will be quite easier to recapture lost clients since they will be quite receptive to the idea of business trying to win them back. Reactivating buyers who know the organization is easier compared to generating new ones.
Reminding them of business existence, overcoming their objections, finding out why they are no longer buying, demonstrating that the business still values and respects them will definitely result to a tremendous bounty in sales thus drastically increasing revenues within a very short period of time, which will go a long way in ensuring that it still remains competitive within the market.
A rolling calendar of communication will ensure that the customers are retained. This may include a programmed sequence of events, letters, special offers, phone calls, magic moments, follow-ups and notes or card with personal touch. This should be done automatically and constantly at defined points of the presales, sale and the post sales process. Customers do not only respond to this in a positive manner but also feel important and valued.
The last customer retention strategy is the courtesy system. This is normally a powerful technique that is used in enhancing interpersonal skills of the staff members of a business and also alters the spirit of those in the organization for the greater good. This may involve being polite to the workers and speaking to them in a polite and pleasant manner such that they are able to reciprocate the same level of communication to the customers. This way, it becomes possible to strengthen the bond between the business and its clients.
Stopping leakages is simply the best way to go when retaining customers. Many organizations invest in enormous expense, time and effort building a relationship with their clients and once that has been achieved, the relationship is left unattended. In worse case scenarios, once the sales have been made and revenue generated, the businesses lose interest in taking care of their customers.
For many businesses, generating large revenues is usually top of their priorities. As a result, after making an excellent initial sale, the organization tend to be complacent thus ignores its customers in the event of chasing more business. However, this needs not to be the case. The enterprise owner must always remember that his customers will always define the success of the business.
Therefore, in order to remain locked within the same sale or even go higher; the business should strike at the point when the iron is actually hot. The workers of the organization must allay the fears of the consumer and show them that they still care for their needs and requirements. This will mean constantly reminding them that their choice to work with them is the right one.
It can be really time and effort consuming if the company decides to direct the resources of the business towards capturing new customers. When leakages occur, it will be quite easier to recapture lost clients since they will be quite receptive to the idea of business trying to win them back. Reactivating buyers who know the organization is easier compared to generating new ones.
Reminding them of business existence, overcoming their objections, finding out why they are no longer buying, demonstrating that the business still values and respects them will definitely result to a tremendous bounty in sales thus drastically increasing revenues within a very short period of time, which will go a long way in ensuring that it still remains competitive within the market.
A rolling calendar of communication will ensure that the customers are retained. This may include a programmed sequence of events, letters, special offers, phone calls, magic moments, follow-ups and notes or card with personal touch. This should be done automatically and constantly at defined points of the presales, sale and the post sales process. Customers do not only respond to this in a positive manner but also feel important and valued.
The last customer retention strategy is the courtesy system. This is normally a powerful technique that is used in enhancing interpersonal skills of the staff members of a business and also alters the spirit of those in the organization for the greater good. This may involve being polite to the workers and speaking to them in a polite and pleasant manner such that they are able to reciprocate the same level of communication to the customers. This way, it becomes possible to strengthen the bond between the business and its clients.
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