Post image for Customer Retention is even more important than new customers

Customer Retention is even more important than new customers

by Sherryl Perry on August 14, 2011

Customer Retention is key!

Retaining current satisfied  customers is crucial.  After all,  this is your best source of referrals.  More referrals come from satisfied customers than anyone else.   Becoming the first name to come to mind when someone is in need of your product or service is priceless and with a good follow up customer retention program in place it can be easily accomplished.

One of the simplest ways to stay in touch with your customers is by sending a personalized greeting card several times a year. Acknowledging birthdays, anniversaries and other special occasions shows you care.   When people believe that you care about them, they are more likely to follow your lead, whether you’re educating them, selling them something, or trying to get them to take some other kind of action.

Building customer relationships are the foundation for every successful company. Strong relationships between a company and their customers, distributors, employees, referral sources, are vital to continued, sustained growth and stability.

Gaining and maintaining the loyalty of your customers makes for a strong bottom line. Yet most of our efforts are directed to gaining new customers. Maintaining loyal relationships with our customer base always seems to get pushed to the back of our already overcrowded schedules. Despite our best intentions, it simply doesn’t get done. So, why do so few companies focus on retention marketing?

That’s a great question, and probably the most frequent answer is lack of understanding of the potential profits in keeping existing customers happy versus constantly acquiring new ones.

What Is This Approach to Marketing All About?

Relationship marketing is an emphasis on building a long term rapport with customers rather than individual transactions. The key word is building! But let’s get more specific…

According to Wikipedia, it is defined as follows:

“Relationship marketing is a form of marketing that evolved from direct response marketing in the 1960s and emerged in the 1980s, in which emphasis is placed on building longer term relationships with customers rather than on individual transactions. It involves understanding the customer’s needs as they go through their life cycles. It emphasizes providing a range of products or services to existing customers as they need them.”

Start your customer retention program  today !

 

{ 0 comments… add one now }

Leave a Comment

Previous post:

Next post: