Six Steps to Improve Customer Retention

Posted on November 17, 2010

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customer retentionTo succeed, customer retention must be a top-down, companywide initiative. Truly committing to customer retention is hard work because it affects virtually every aspect of your organization, but the payback in sustainable growth and profitability makes the effort worthwhile. Here are the 6 steps.

  1. Ask customers what they want, what they like and dislike.
    • Include customer surveys on your web site
  2. Evaluate customers to find out who your best customers are.
    • Allows you to gain a clear
      understanding of real and potential customer profitability
    • Provides a basis to target
      marketing initiatives and
      messages.
  3. Stimulate
    customers in ways that nurture the relationship you have with
    customers 

    • Refraining from moving on
      and leaving customers to fend for themselves
    • Remain in contact with customers,
      recalling to thank them and continually sharing information with them.
  4. Reward
    customers for doing business with
    you. 

    • When you can give customer
      more than expected
  5. Aggregate customer needs so that they can find multiple answers
    working with you. 

    • Cross-sell other products and services
    • Create and offer services that makes life easier for your customers
  6. Take Action to keep the customers you want.
    • Foster positive word-of-mouth/word-of-mouse referrals
    • Write out your marketing plan and use it to keep customers content
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Posted in: Marketing