| |
| |
|
WebsiteAlways |
|
How To Keep Your Customers Coming Back -- Understanding Customer Retention
Why do some businesses offer points, stamps or every tenth coffee for free? These businesses understand that a customer retention program is a fantastic way to ensure that customers keep coming back. The most recognized customer retention programs are those loyalty programs used by retailers, but this same principal can be applied to any business that wishes to maintain a loyal customer base. Ask yourself these simple questions. ?Does your business have a comprehensive retention strategy? ?Are you devoting a portion of your marketing budget to keeping current customers? If you answered no, then you are jeopardizing the long-term success of your business. Remember it is costs less to keep your current customers then it does to acquire new ones. That doesn't mean that you should quit spending on marketing attempts to acquire new customers, but you should invest some of your marketing budget on retention strategies. Consider the 80/20 rule which states 80% of your business income comes from just 20% of your customers. A good Customer Retention program will work to convert those occasional customers into "loyal customers" who spend more money on a more frequent basis. Customer retention doesn't just happen. Poor customer service can undermine even the best retention strategy. For a customer retention program to be truly successful, the business must look at their total operation to ensure every aspect of their business is aimed at keeping the customers they already have. Is the accounting department too abrasive when collecting overdue accounts? Is the receptionist chewing gum when answering the phone? Every contact with your customer has to be positive for any retention program to work. Depending on the type of business you operate, there are several possibilities in the type of customer retention program could develop: Frequent contact You can develop a program that provides regular, scheduled contact with customer or prospect (a drip campaign). For example, develop a (opt-in) newsletter campaign, letter campaign or important reminder campaign (oil change, domain renewal etc). This is an excellent approach for many service industries or for sales professionals such as real estate agents or car sales people or any other industries where there is a significant lapse in time between new purchases. You can keep your business name fresh in your clients mind so that they call you instinctively when it is time for the next purchase. Rewards Develop a "rewards" program such as points, free product or service or discounts earned by making. This is the retail rewards program most people are familiar with, but this type of retention program is often used in business to business relationships as well. You could develop a program that will offer cash back or a discount to businesses based on the volume of purchases annually. This type of program works particularly well if you have a diversified selection of products or services, and are looking to encourage your customers to purchase a broader range of your products or services Combination You could develop a Members only club that combines aspects from both the frequent contact and rewards program. The best retention programs are those that provide an opportunity for you to learn more about your clients and their spending habits. This is invaluable information that can easily give you a leg up on the competition. © 2004-2005 Tanya Beaudoin o/a Office on Demand, All rights reserved. You are free to use this article in its entirety, as long as you include complete attribution, including live web site link. Please also notify Mrs. Beaudoin as to where the material will appear. The attribution should read: "Tanya Beaudoin, B.A. is a virtual assistant who specializes in e-solutions (including e-stationary) and administrative support for small businesses and non-profit organizations. Please visit Tanya's web site at http://www.officeondemand.ca for additional business related articles"
MORE RESOURCES:
Customer-Service - Google News |
|
|
|
RELATED ARTICLES
Loyalty Programs May Keep Customers Coming Back - But First You've Got to Earn their Trust Remember trading stamps? If you're over 40, chances are you will. Every time you shopped at a participating grocery store or gas station they gave you stamps to paste into a book. Customer Service - How Good Are YOU? At 8.30 am a wealthy client (on his way to make a presentation to the local council at 9 am) walked into a store that sells photocopiers. Customer Loyalty Loyal customers are the foundation of almost every business. Going the extra mile to provide outstanding customer service is the first step to customer loyalty. 4 Things Your Clients Want From Your Company Sure, all clients are different. They have different kinds of strengths, weaknesses, cultures and goals. The Death of the Loyal Customer One of my classes in management focused on the repeat customer. The course stressed the importance of the repeat customer to the financial welfare of the business. 10 Customer Service Quality Statements to Measure up Against It might sound quick and simple, to say how well your business does in satisfying it's customers. Hearing such as:-"We're increasing our turnover by 14% year to date""Our customer complaints are now less than 4% or our transactions". Caring for Your Customers You probably think I am going to say something like, "The customer is always right." Right?? Wrong. Call Center Software - Your Tool of Choice in Customer Relations The call center represents your first line of communication with customers and potential customers. Whether you choose to outsource this service or to establish an in-company call center, this is one area in which quality is paramount and cannot be compromised. Quality vs. Quantity There is a battle in Call Centers. The teams are Quality vs. 3 Special Benefits Every Customer Wants Every customer looks for 3 special benefits when they do business with you. They may not specifically ask for these benefits. Customer No Service - How to Lose a Loyal Customer! So today was the day where I almost stopped going to my favorite supermarket here in Milwaukee. If you're in Milwaukee, you know the one I'm talking about: the cool one downtown that has 1000 different types of produce, and a whole aisle dedicated to gourmet coffee and teas. Poor Customer Service - Are Your Customers Driving Away Other Customers Every customer you have is a word-of-mouth advertiser for you. Unfortunately 90% of this free advertising is negative. How to Keep Customers Who was it that said - "The customer is always right"? Well for those of you who can't get through the day without knowing, it was H Gordon Selfridge, the founder of Selfridges's department store in London.The question I want answered is; did he ever work with customers on day-to-day basis and if so, was he some kind of saint?Let's face it; customers can be a real pain in the neck. Automating Your Help Desk Workflow Do you know you can open, answer, close and report help desk information without human intervention?Automation is a powerful feature provided by most enterprise level help desk products; however, most organizations rarely take advantage of these features. Based on a survey conducted by RightStar Systems, only 5% of the help desk managers interviewed were using automation to its fullest capacity. And The Difference is... Attitude I returned a rental car at an airport yesterday. As the person who was going to check me in approached, he smiled (which shocked me) and said, "Hello Mr. How to Deliver Exceptional Customer Service Having been in business a number of years, I'm amazed at the number of people who don't have the slightest idea of what customer service is. Customer service is not a way of doing things - it's an attitude. From Disgruntled to Champion - How to Turn an Unhappy Client Into Your Best Customer It's a salesperson's worst nightmare- the phone call that comes in from a disgruntled customer. Not only does it create extra work for you, but it cuts into your valuable selling time. Is your Online Business Customer-Friendly? Customer service is increasingly seen as one of the most valuable uses for a commercial World Wide Web site. Your Web site is available on a 24 hour, seven days a week basis. What Every Employee Should Know About How to Prevent Customer Service Conflicts There are five techniques that have been proven to be effective in resolving, minimizing, and preventing conflicts. And by conflicts I am referring to any of the following that may take place between two or more people: misunderstanding, miscommunications, arguments, disagreements, mixed messages, fighting, etc. Do You Want More Profits? - Follow The Golden Rules Of Providing Good Customer Service Last night I was at my computer and a Skype chat window opened up with a link in it from a stranger. I clicked the link and was taken to one of those "You would have to be crazy to pass up this business opportunity" sites.
|
| Interesting articles | Home | site map | Link |
| © 2006 |