3 Tips to Improve Customer Retention
15 Dec 2020 Jeremy Herrington

3 Tips to Improve Customer Retention

Every business person knows that retaining a customer is always better than going out and getting a new one. It is stated that retaining customers will increase profits by 25 to 95 percent, so that is why we need to keep our customers coming back and satisfied. It is also far more expensive to go out and gain new customers over retaining existing ones. Here are some tips that you could use to make sure you always have your customers coming back for more.

      1. Make sure your customers are happy

When selling a product or a service the customer is the most important thing that you need to worry about. Taking care of the customer is crucial in having return customers who are loyal to your business. Another thing that is crucial in ensuring customer satisfaction is good customer service. If a customer is having problems with a product or service they will need to be able to communicate their concerns and frustrations. Making sure their problems are solved promptly is as important as the solution itself, so make sure that you are answering on time.

      2. Communication is key

When dealing with clients, it is important to communicate what you are capable of doing, along with communicating any concerns that you may have. Another key element to this is keeping up with your customers, check in on them and see if they are satisfied and if they want to do more business in the future. It’s also best not to burn bridges when trying to get customers, you never know if they are going to become future customers. One last thing that will make sure customer retention will increase is to always be transparent, if you are having difficulties with an order they are more likely to be willing to work with you if you do not spring these problems on them after the fact and when it is affecting their business.

      3. Show customers appreciation

If you show the customer that they are not just a number to you and a valued asset or partner they will be more likely to stay loyal to your company. Even the little things like sending them a hand-written card thanking them for their business can mean the world. Keeping things fresh and making them feel appreciated will make them feel like they are apart of something bigger. A cheap and effective way is sending out an email blast that thanks them every quarter or year, it is a small gesture that can make an impact. The only thing you need to keep in mind is the need to stay genuine. Doing all of these acts won’t matter if you don’t truly care. Be happy to support each other and celebrate success.

Customer retention is sometimes overlooked when getting new clients, at the end of the day we need to remember that loyal customers, in the long run, will grant you a successful and more profitable business.

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