When we look at our customer retention strategies it needs to be done rationally. We should be aware of the potential lifetime value of customers and the use of financial dynamics surrounding our business decisions. The benefits of the products and services we offer to our customers can be measured in rational terms – they are based on sound reason.
However, absolutely not to be forgotten is the power of the emotional behaviour. This is particularly true when it comes to our purchasing decisions, be they impulsive for the one off small purchase, or indeed the emotional rationale in the justification of a major purchase behind the often used saying “I awarded X the contract because I liked the people”
So when you are re-evaluating your customers, how about some of our top tips?
- Increase your engagement – when did you give them a good listening to?
- What is it that your customers REALLY value? – chances are you do not know.
- How easy are you to do business with? –when did you last try to contact your own business?
- What makes your product or service REALLY different.
- What else? – you already have permission with an existing customer, so why don’t you develop something exclusive with them.
- Sort mistakes – quickly and without fuss.
- Surprise your customers every once in a while.
- SAY THANK YOU.