Seven Ways to Grow your Business: Increase Customer Retention

There are just seven ways to grow your business. The first five grow your sales and the last two reduce your costs. In this blog we highlight actions you can take to find out what your customers and client want, and give it to them, so you can increase customer retention.

 

Human Resource:

  • Develop your Core Values, Vision and Purpose (with your team)
  • Develop a team commitment statement
  • Implement a sales follow up process (getting feedback following delivery)
  • Make regular client calls (show you care, educate on new products / services)
  • Work with clients who are aligned with your values
  • Review and improve your customer experience 
  • Measure retention rates

 

Product:

  •   Deliver constant, never ending improvement (and promote it)
  •   Ask clients what they want (survey them)
  •   Respond to clients’ needs with new product / services to differentiate yours
  •   Create customer focus groups

 

Community:

  • Be present at social events
  • Engage your client base using social platforms (Facebook, LinkedIn, Twitter, Instagram)
  • Undertake SITAV activities (Stay In Touch and Add Value)
  • Create online content of value (e.g. blogs addressing customer problems)
  • Get personal and create great moments with customers to build loyalty
  • Utilise testimonials and case studies
  • Manage expectations: under promise, over deliver

 

Reward clients and customers:

  • Develop a frequent buyers programme
  • Develop a customer loyalty programme
  • Send Christmas cards and gifts
  • Send random gifts to top clients

 

Which of the above ways is the easiest and cheapest to implement?

Increasing customer retention. That’s why its top of the list. Simply looking after your clients and customers better is a fast track to growth.

“Good service leads to multiple sales. If you take good care of your customers, they will open doors you could never open by yourself.” – Jim Rohn

 

Need any help to get started with the next steps for your business, get in touch, we’re happy to help.

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