Wednesday, July 6, 2011

Seven Customer Retention Strategies

Do you direct all of your energies to getting new customers? If so, you may want to take a closer look at the source of your sales since it is very likely that 80% of your business is coming from repeat customers. If you  find that 80% of your business is coming from 20% of your customers, you may want to consider some strategies for staying in touch with those customers! Retaining customers and serving them over their lifetime can mean thousands of dollars for your business.
Some practical ways to develop action around customer retention strategies might include some of the following steps: 



1 Communicate with your existing customers on a regular basis.
2 Show your appreciation for their business and nurture customer loyalty.
3 Look for ways to build trust between your business and your customers.
4 Don’t make it easy for your customers to switch to the competition.
5 Expand product lines to provide more products or services for your customers.
6 Anticipate the changing needs of your customers.
7 Use cross-selling (selling other parts of your line to the same customer) and up-selling (selling more per order) to increase the average sale to each customer.

If you’ve lost customers, you may want to develop some strategies for getting them back. In order to implement a strategy, you need to have a database of previous customers. So, if you don’t keep a database, it stands to reason that that should be the first step in your strategy: Develop a database!

Next, you need to remind them about your business and tell them you want them back! However, you may first need to find out why they stopped coming to your place of business and, if you failed to meet their expectations, you need to make it right.

You’ve already invested a lot of money in the customers you retain and the customers you have lost. For that reason alone, putting some additional energy into retaining customers, and reactivating lost customers, makes sense for your business.

No comments:

Post a Comment

Healthy Vegetarian Health, Fitness and Food Mike James Sport ITfSdp Drug Rehabilitation Business Newsletter Managerial Web Tips Music Education Audiology Engineering Your Art Education Talent for Jobs Data Management NM Business School Herbal Medicine Business Strategies removalgroup.biz impresapuliziepavia.info friendlyscreens.info www.Desert Valley Auto Parts www.Haji Samira Sehat www.College Society www.Economic Principle www.Local Education www.Online Shopping Tips www.Atlas Travel Insurance www.Weight Loss Centro www.eldjazair.info www.Mobile Computing www.Medical Center and Health Care Services www.maxumise.info www.Fashion Jerseys Designs www.Business Insurance www.Masters in Europe www.Networking Insurance Online www.Business Rappaport Consulting www.Eleven Health Systems www.Real Estate Business www.USA Center for Weight Loss www.World Health Tips www.journalofpharmacy.info
www.g-a-r-a-g-e.info
www.infowit.biz
www.plentymark.info
www.vunow.us
www.smartsentencing.us
www.worldtaichiday.us
www.justice4darfur.org
www.minimwebsitedesign.info
www.parlianet.info
www.voteridformn.info
www.bhnewmediafilmfest.info
www.salavamusicclass.info
www.safechemicalsact.info
www.efikamx.info
www.businessnetworkchicago.us
www.siloamchamber.info
www.p2238.com
www.sztczjw.com
www.accufind.us criticalissuesforgirls.info distinctivedomains.info www.scot-tag.info www.signspeed.info www.pripremna-nastava.info www.pripremnanastava.info www.infosegovia.info www.Desert Valley Auto Parts