Six ‘secrets’ to boost your customer retention strategy
FuelNet, a US-based Internet resource for companies looking to grow their business, is offering six ‘secrets’ to boost a company’s customer retention strategy.
The average business hears from only 4% of dissatisfied customers with the rest just bolting, says Fuel Net, which adds that greater attention than ever should be given to a company’s most important customers in the current tough economic times.
It advises:
1. Check in with your best customers. At least once a quarter, touch base with the 20 percent of your customers who generate 80 percent of your business to find out how they’re doing. “You aren’t trying to sell anything or be the bearer of any profound news, but are merely placing a courtesy call to convey a sense of calm and clarity,” says Duncan MacPherson, coauthor of Breakthrough Business Development. As an extra personal touch, send a handwritten note.
2. Find out how you’re doing. Robert Basso, president of Advantage Payroll Services in Hicksville, N.Y., regularly surveys staff to see if they understand the firm’s customer service standards. He also talks to customers to make sure they’re receiving the service they deserve. Surveys should be short, free of bias, and well structured, Basso notes.
3. Teach your employees well. Schedule a weekly half-hour meeting with staff to address customer care topics, such as how to deal with crabby or impatient customers. “A postmortem analysis on any customer interaction that doesn’t go well can be an eye-opening exercise,” says Lori Jo Vest, head of LJV Consulting in Troy, Mich.
4. Send referrals your customers’ way. For customers who may own their own businesses, spread the word about their products or services, or offer to share resources if it makes sense.
5. Act fast when someone grouses. Research indicates that a complaint addressed with swiftness and creativity can turn a dissatisfied customer into a highly loyal one, notes Kyle LaMalfa, best practices manager at Allegiance.
6. Think long-term. “Think of a new customer as the beginning of a long relationship where you are going to help them get what they want,” says Tessa Stowe, editor of the Sales Conversation newsletter. Positioning yourself as a resource for life differentiates you from companies looking for a quick sale, she adds.