Clients are the lifeline of any one business. Even though businesses are able to form their foundation through the acquisition of customers, retention of existing clients is what helps determine the growth of business in this highly competitive trading environment.
As such, you will find that customer satisfaction is what helps in fueling the long-term success of a company, and is, therefore, a paramount realm for all businesses to tap into. For a business to acquire new customers, it requires a lot of hard work as well as proper financing. Therefore, it is equally important to work towards retaining the clientele
Customer experience is the number one driving factor when it comes to retention, as well as the profitability of a business. It has been established that a 5% increase in the retention rates will help in accelerating the profits recorded by a business by between 25% and 95%.
Additionally, you will find that if the clients are satisfied with the services that are provided by your business, you will have a free pass for word of mouth promotions. Given that clients are the biggest assets for any business, you need to ensure that you devise the right strategies, so as to improve customer satisfaction, which will in turn help in increasing your retention rates.
Let us take a glance at the ways that actually work.
Know your clientele
Knowing your clients is something that goes beyond knowing their ages, locations, or names. It begins when you start knowing their tastes and interests, and when you get an idea of how the services you provide through your business can be of help to the clients.
Getting an insight into what the clients need will open a goldmine of opportunities for your business. From this insight, you will be able to revise your business decisions and strategies to revolve around the requirements of your clients, which is meant to help you deliver a positive buying experience to the clients.
Having the right information assists you in collecting the correct data that is used in initiating client engagement. You can use various methods to know your clientele. For instance, you can choose to focus on customer profiles, web analytics, and behavioral data, in a bid to obtain what you need. You can also use various Business Intelligence platform to Analyse Customer Behaviour.
Provide personalized services
The revenue generated by any business boils down to its clientele. The success of any business is mirrored by how it treats its customers. We all desire to be treated like individuals, which is why providing personalized services helps you score big-time when it comes to improving customer loyalty.
The easiest and simplest way for you to implement this will be by lending a voice to your business brand. You will have to make sure that the clients will not end up talking to a machine. Additionally, sending customized messages, providing notifications based on customer’s habits and needs, as well as providing shopping assistance will work to your firm’s advantage.
Offer customer service and product training
It is vital to assist your customers to get an understanding of how a particular product functions. You need to design product training and support in such a way that customers are able to derive maximum value from that particular product.
When a person has spent his or her money in buying a product, they will often doubt their ability to comprehend how that product functions. Providing constant assistance to guide your clients through the product will assist in easing, and eventually eliminating this doubt.
When you provide this type of guidance for every purchase made, the clients will start to trust your brand greatly.
Utilize social media
Do you know that more than 75% of all internet users are active on social media platforms? As such, the chances are that most of your clients are active users as well. Social networks are an effective channel for clients to share their shopping experiences with the business.
Social media, therefore, act as a goldmine for customer recommendations and reviews. In addition to checking customer experiences, you can also use social media to share information on how certain products work.
Sharing this type of information will position you as a specialist or as an authority on the subject matter, and it makes you the go-to person in that particular niche.
Ensure you have a feedback policy in place
For any business, customer experience is considered to be the most important aspect. There is no better way for you to understand customer experience than ensuring that there is a system for receiving customer feedback in place.
You can carry out this post-purchase process by conducting surveys or talking to your clients directly either via chat or by phone. This insight will assist you in identifying any complaints or concerns that the clients may have regarding the products and or services, which will you devise strategies on how to serve your clients better.
Responsiveness and communications can make or break the image of your brand. You must, therefore, maintain an offline and online presence to enhance customer satisfaction. Understand the perspectives of the clients and ensure you implement strategies that are based on what is working. Remember, you should always treat your clients the way you would like to be treated.