The most important thing to know about customer retention is this – you cannot trick your customers into believing that you are the best; you have to be the best (for them at least). That, truly, is the short and the long of it.
But what does that mean?
It means that the only way to retain your valuable clientele is by taking heed of what your customers are telling you and using it to provide a) the best product or service in b) the way your target audience wants and needs you to.
Why should I care?
Your customers are your biggest asset and investing in them should be a major business priority. However, many businesses are so focused on gaining new customers that they fail to address the need to retain those they already have.
Your business needs to take a proactive role in retaining your customers. If you make the most of your existing customer base, you capitalise on every opportunity to maximize revenue, improve profitability and ultimately grow your business.
The bad news
There are no more shortcuts to success in the enlightened age of customer engagement. Gone are the days of mass marketing where smooth television advertisements, glossy magazine inserts and “spray & pray” email and SMS campaigns were all the rage – new media and technology have led to fractured audiences and a brand new marketing landscape where influence is controlled by past, current and future customers themselves.
The good news
Once you succeed in making the important paradigm shift from talking at your customer to talking to your customers, things become a whole lot easier. All you need to do is get to know your core audience and tailor a message that speaks to them directly. When you shift focus from the hypothetical ‘typical’ customer at whom you’ve been directing elaborate marketing campaigns to the actual real live people who generate 80%+ of your product sales you will find that it is pretty simple to adjust your business model to boost your bottom line.
There is no silver bullet; it’s about small incremental improvements in key areas which will drive exponential customer value.
How do I get to know my customers?
To find out more about customer retention and boosting business growth, keep an eye on the blog or get in touch for an obligation-free discussion about your business needs. At CustomerLink we believe that you know your business best – we simply hold up the mirror so you can see a true reflection of what your customers are actually telling you they want, and then we help you get to where you want to go.
