Creating Impressive Customer Retention
Up for a quick math lesson? If your company adds 20% more new customers every year and loses 20% through attrition, you’ve got a growth rate of zero. You’re still in business, and that’s nice. However, “stagnation” is not the path to a brighter future, but is the predictor of future struggle.
So, let’s say you added 20% more new customers every year, but only lost 10% through attrition. You grow by 10%. Pretty cool, however… if you keep growing by 10%, you’ll double the number of your customers every seven years. That’s awesome.
How do you make it happen? The most effective Customer Retention strategy you can employ can be summed up in three steps:
Make a good first impression. You’ve got one chance with this, so wherever your prospect comes in contact with your company or its image, make it a good one. This includes your professional marketing materials, your company vehicles, your telephone courtesies, your prompt arrival, your email and Social posts and responses. The good initial impression you create gives you the foundation for building a relationship, especially when you…
Make a good second impression. They were impressed with your courtesy in setting the appointment and the value evident in estimate you provided. Next step is your opportunity to deliver excellent service and keep your promises in adhering to your estimate, to the penny. They like what they see, and then you follow-up with a phone call or note just to make sure they’re happy. And now the relationship that you’ve begun stays strong as you…
Make a good lasting impression. Continue to stay in touch through newsletters and other customer-centered communication. Plus, add a Maintenance Agreement program to deliver higher value and benefits to customers who pay you to stay loyal.