If you want to form a long-term relationship with a client that will lead to repeat business, Partnering opportunities, and Joint Ventures, you need to develop a wide platform on which to base your sales contacts.
Customer retention has a vital role in this aspect; it determines the fate of the business. Victory in business is not dependent only on getting variuous new customers; you also require to retain the customers as well. Note that this aspect is not an easy, there are some basics, which should not be ignored. This article explains various ways of improving customer retention in business.
With client retention, you have two types of customers; those who care about service and those who care about price. So, how do you retain customers with such disparate needs? The answer is leveling. Create tiered service packages; the higher the price, the more personalized the service. A base package may offer a cut-rate price, but feature no perks, like on-site service. A deluxe package may be pricey, but includes the best service your company can provide. By creating a leveling system you can finally make everyone happy, and a happy customer is one who sticks around.
- You must make sure you have the vision and believe in your company if you are going to be convincing in your marketing efforts. If you are looking to secure tender packages from a potential client without the vision to create a long-term sales pipeline, you are simply in the numbers game and unlikely to develop a healthy client base.
- Offer step by step strategies that offer solutions to your clients. Your potential clients are in business to build a better future, but many of them will not have thought through strategy for achieving their goals. Imagine what would happen if you were instrumental in helping them to realize some of their potentials. Sound a bit far-fetched? Not at all!
- Assess the viability of your client’s status. It is in your best attention to ascertain this, especially if you intend developing a marketing strategy that embraces relationship building.
- Be infectious in the way you sell the vision! It is possible at a very early stage of speaking with people, to open various options, suggestions and recommendations that would be attractive to your potential client and would enable them to see beyond the horizon of the immediate business relationship to a wider and more long-term finance strategy that could prove lucrative to all parties concerned. Most developers, housing associations, and entrepreneurial business people, have ambitions which exceed their current budgets. It’s good to have a dream!
- It may seem a little presumptuous, but small to medium size companies may well struggle in their push to make healthy profits and meet business plan targets. With a little incremental planning, you may be able to help them achieve most of what they want over time. I’m not suggesting formal advice on financial planning, but I am suggesting that we get into the position where we can talk frankly with them about their budget and help them make the right trade-off decisions. This can more easily be accomplished in a negotiated contract position, where interaction between contractor and client on these issues is more acceptable.
- Strive to earn the trust of your customer at every hurdle. You must get past the suspicion that you are trying to push as much product as quickly as possible. If you can’t find out what their budgets are, let them know what the lifecycle costs of various approaches are and let them steer.
- Provide the client with options that solve their problems. By doing this, you will build a solid foundation for the business growth and client retention. Remember, you are always there for your client. And your client is always there for you.
- Look beyond the sale. We often never progress beyond the chase for the next lucrative tender package. Look beyond it, to the bigger picture. We need the vision to build trusting relationships with the decision makers, business builders, entrepreneurs and industry professionals that will enable us to build an infrastructure for mutual growth and profitability.
Retaining customers is one of the best ways of encouraging growth, so heed this advice. Pamper your customers, treat them well, and hopefully, you’ll be able to see them coming back for more.