Customer retention is a key component of any successful business and is as equally important to growth as customer acquisition. Yet, many businesses fall short on figuring out how to keep the customers that they already have. Typically, this is a result of spending too much of their efforts and attention on gaining new customers and leaving the current ones to fend for themselves.
Taking the time to retain your current customer base is imperative to your business, so here are three tips to help you do just that.
Identify possible departures
Any good salesman can tell you when a customer isn’t ready or willing to buy and that works for returning customers as well. There are key indicators that show when a customer is thinking about dropping your services or products and it’s important to recognize them. A significant indicator is time. If a customer has been buying from you for quite some time and is now all of a sudden being awfully quiet, then it might indicate a decision to drop your company. Creating a list of your customers and their buying patterns, as well as which customers haven’t made a purchase in the last six months can help you identify customers that might have one foot out of the door.
Improve customer follow ups
After you make a sale, your business with that particular customer isn’t over. You should continue to engage them with follow up calls and promotional offers to keep them interested in you and not your competitors. Utilizing a customer call center to reach out to your current customer base can provide your customers with a personalized customer experience that will make them want to keep coming back.
Target the big buyers
Keeping as many customers as you can is important, but you also want to identify who your biggest customers are. Keeping the heavy hitters can be what takes you to the next level, so it’s important to make them a priority. Using customer service call centers, outbound sales call centers, and inbound sales call centers can help you target these customers and keep them buying.
Increasing customer retention rates by only 5% can equate to an increase in profit of 25% to 95%, according to a research study by Bain and Company. Therefore, it’s essential that your business focus on keeping customers as much, if not more, as they do acquire new ones. Partnering with a marketing call center or inbound sales call center can help your business retain their current customers.
Is your customer retention rate on the decline? Need an inbound sales call center to help you bring it back up? Call us today at 800-691-7542.