- Most (68%) customers stop doing business with a company because of indifference.
- Existing customers are more profitable long-term than new customers.
- It costs 5-6 times more to gain new customer than it does to keep an existing customer satisfied.
That’s why one of the cardinal sins of selling in the New Economy is taking your customers for granted. Failing to communicate or stay in regular contact leaves the door open for problems to arise and temptations (the competition)to enter the picture. If the lines of communication aren’t open, the customer may not remember you or won’t think to notify you if a problem occurs or a reorder is desired.
As a salesperson and as a company it’s important to have programs in place on how to retain customers that is effective and efficient. This will maximize selling efforts and deliver the best bottom line results.
In the New economy it’s not enough to just stay in touch. Staying in touch is important but it’s only half the battle. Once contact is made, you must use the opportunity to the maximum advantage. This means that when you make customer retention calls they must be:
Unique. Each call should have its own unique reason for existence (follow-up on a new product, information on company innovations or changes and new incentives). Provide the customer with new information, ask additional questions, tackle varied topics. Your customer does not want to rehash old information or waste time.
Memorable. Make each call count by making a lasting impression on the customer. Customer retention calls are a personally delivered commercial for your product or service. Offer your customers “food for thought”, make them laugh or give them something to remember the call. If you don’t do something to stand out in the “sea of sameness” your message will forgotten soon after you leave the call.
Personalize. Since most sales are emotional decisions supported by logic you must use theses call to connect with your customers on an emotional level. Helping your customers emotionally identify with you. your product and your company is an essential step in building customer loyalty.
Many salespeople view customer retention calls as perfunctory at best and occasionally a waste of time. Miscalculating the importance these calls usually leads to the deterioration of a relationship and ultimately lost sales.
How to retain customers on a regular basis must become a priority if you want to protect your most important asset, your customers. Remember the saying, “If you don’t take care of your customers someone else will!” Put a customer retention plan in place today.
To learn how your customer retention plans stacks up take the Growth Positioning Survey now.