Customer Retention Plan: Why Customer Loyalty is Crucial
You have spent ample time finding new customers and getting their business, but even if you have one of the most successful sub franchises, you need to know how to keep these new customers. You might ask, why bother if you could easily get new customers. Well, for starters, the cost to keep existing customers is just about 10% of getting new ones. Additionally, having a customer retention plan would likewise increase customer profitability.
Only Make Promises That You Could Keep
Businesses that are successful at keeping customers usually have one thing in common, superb, excellent service. You need to make promises that you could keep and deliver to your customers. But more importantly, you need to do it better than your competitors. For this, you have to look within your company, because as you know (or should know) excellent customer service begins with competent employees.
Having employees that are enthusiastic and knowledgeable about your products and services would do wonders for your reputation. Think about the times you walked into a store and feel disappointed because of an employee’s incompetence. It’s very frustrating if a contact person doesn’t have a clue or isn’t knowledgeable enough about what they are selling customers. That said, employee training is key. Plus employees are considered as one a business’ greatest assets, so they deserve the opportunity to develop their specific roles.
Communication is likewise a crucial part of ensuring the satisfaction of your customers. Your Aside from training your employees to do their job, they should likewise know how to handle customers the best way possible. It’s also a good idea to communicate with customers regularly either through an email newsletter, text messaging, or social media.
Rewarding Customer Loyalty
The best customer retention plan also involves rewarding customers for their loyalty by providing them something real and tangible so that they always come back. The most effective incentives are vouchers, loyalty cards or discounts, promo codes, bonus freebies, and special pricing. Above all, your actions must speak louder than your words. Put simply, a proven or realised thing instead of a promise would go a long way towards keeping your customers loyal to you.