Determine/define what you are doing to retain customers
It’s time you ask yourself the tough question: What are we doing to retain our existing customers?
We all know it costs three times as much to acquire a new customers as it does to retain an existing one. So do you have specific efforts or procedures in place to make sure this is happening? What are you doing to make them feel special or appreciated? More importantly, what are you doing to reinforce their decision to do business with you?
Consider these examples:
Customer Satisfaction Surveys
Critical to hearing the good, bad and ugly straight from your customers mouths. These should be sent after every interaction with your customer. You’ll be amazed at what you can learn from listening and when you act on a customer’s comments, they feel empowered and that they matter to you.
Loyalty Programs
These range in complexity, but the idea behind them all is the same. “Reward” your customers for doing business with you. These rewards can vary from discounts or promotions to gifts and tokens of appreciation.
Exclusive Offers
Make certain discounts or incentives only available to existing customers. This creates a feeling of exclusivity with customers and fosters appreciation.
