It is said that is its easier to keep a customer than to find a new one. Many times, business owners are so focused on increasing sales by gaining new clients, they sometimes neglect the ones they have. Providing great customer service does not guarantee customer retention. Having an effective customer retention plan does.
A customer retention plan may encompass:
- Customer Service
- Customer Interaction
- Customer Expectations
- Tracking Customer Satisfaction
- Building Customer Loyalty
- Change Based on Customer Feedback
Earning your customer’s business is something you need to do everyday. A customer may purchase from you once based on many factors. But having that customer loyalty – where the customer purchases time and time again – is what you are striving for.
A customer retention program may not just be about coupons and discounts. It's about communication with your customers and getting feedback on how to better serve them. Then, making constructive changes (if realistic for your business) to enhance that customer’s experience.
Each industry may be different, and have different ways to address customer retention. Below are a few links to explore.
Fostering Customer-Focused Innovation
Five Customer Retention Tips for Entrepreneurs
Customer Acquisition vs. Retention Costs – Statistics and Trends
We encourage you to take advantage of free/reduced priced training and complimentary counseling services available here in northeastern Missouri, featuring resources to help grow your business! Have a counselor contact you, or call 660-665-3348 to make an appointment.