One of the biggest trends in the business and marketing world over the past twenty years is how to expand your company’s line into new markets and to reach new customers. But the reality is that keeping the customers you have is more important than earning new customers. These are the tried and true customers that come back time after time to give you repeat business and they are the true reason why many businesses rise or fall. Here, then, are some of the reasons why your company should focus more attention on customer retention and how you can make sure that you do not lose their business to your competitors.
Repeat Customers By the Numbers:
There are some statistics that actually can be quite surprising when it comes to repeat business and how important it should be to your company. Among these:
- 78% have cancelled a transaction with a business due to poor customer service.
- Of customers who have a bad customer service experience, only 4% voice complaints. If you think the other 96% come back and are willing to give you another chance, think again. 91% of those customers will not return to your business after this experience, even if they don’t tell you about it.
- Approximately 60% of Americans are willing to leave a current business that they use if they are promised better customer service by a competitor. 70% said they are willing to spend more on a product if the customer service is better.
The bottom line is that getting customers through the door is not as big of an issue as getting them to come back in once they’ve visited once. And the key to this is to provide them with stellar customer service that makes them feel special and respected.
How You Can Keep Customers With Quality Service
Only once you realize that there is a problem can you fully address that problem and correct it. There are, however, several ways that you can improve customer service with your business as a means of retaining customers:
- Be sure to listen carefully to every customer’s complaint while they are in the store or on the phone. If they seem like they are exasperated or unsatisfied, do not let them leave until you have made the situation beneficial to them and you have resolved it to their liking. You do not want to lose a good customer.
- Take a personal approach with customer service. Give personal follow-up calls or emails to your customers to ensure that everything is fine and that they are happy with the product or service they have received. If they had a complaint, call or email them personally to make sure that the issue has been resolved and offer them a promotion as a means of smoothing things over and winning them back to you.
- Read customer reviews and feedbacks, especially online. Many businesses worry about negative online reviews as these have the potential to hurt new business. However, look at these as a chance to correct the problem. If you can reach out to the customer that posted the review, do so and try to fix the situation. If they are happy with the resolution, ask them to post a new review or a review clarification. If you cannot reach the customer, you can still address the problem to ensure that it does not happen again.
For many businesses, losing customers can be the proverbial kiss-of-death. But it does not have to be this way. Take the time to listen to your customer base and make changes to your customer service plan to ensure that you are keeping all of your current customers before you start looking to branch out into new avenues.
About Neal Lacy
Neal Lacy has written 82 posts in this blog.
Neal Lacy is an expert in professional call center services. He provides great content on a wide variety of topics concerning answering services, message services, order taking, and virtual receptionist. He is main writer for United Call Center.