Small Business Growth Solutions – customerretentiion

Improving customer retention has a profound effect on any business. For instance, most businesses have no way of knowing when a customer stops buying from them.

Reducing customer losses by as little as 5% per year increases profits by more than 30% per year.

That’s right, simply concentrating on reactivating old customers alone can double your profits in 3 years.

And it’s simple to do.

Here are 33 ways you can keep improve your customer retention:

Customer Service

  1. Excel At Customer Service
  2. Treat them like royalty
  3. Deliver More Than They Expected
  4. Know Your Costumers Well And Make sure They Know You Well
  5. Communicate well and often.
  6. Planned communications
  7. Listen and act
  8. Follow-Up
  9. Phone Call Contacts
  10. Client entertaining
  11. Thank them often

Longer term deals

  1. Use Service Contracts
  2. Retainers Or Contracts
  3. Till Further Notice Arrangement
  4. Prearrange Future Sales
  5. Upgrade contracts.
  6. Take Trade-Ins
  7. Jack Up Their Credit
  8. Explain Additional Benefits, uses
  9. Keep The Direct Mail Coming
  10. Maintenance contracts

Business model

  1. Joint ventures
  2. Strategic partnerships
  3. Provide consultancy on your services
  4. Sell consumables
  5. Invite Customers To Take a Stake in Your Business
  6. Innovate

Reactivate

  1. Implement A Customer Reactivation Program
  2. Invite Them Back
  3. Sales model
  4. Train For Repeat Selling Behaviour
  5. Free Trial Offers
  6. Unadvertised Sales
  7. Promotional Premiums

I am not suggesting that you should try to implement all of these ideas.  Work out your marketing strategy and stick to it.  Choose 3 or 4 ideas, form your plan and stick to it.

Of course, its even better if you can generate more profits from your customers.

You can learn a lot from your competitors too.

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