Customer retention is undoubtedly one of the most important aspects of business today, especially given the fact that it costs so much to acquire new customers. Many businesses make the mistake of not placing enough emphasis on customer retention, and are then obliged to pay the exorbitant cost of acquiring new customers. Here are some ways you can avoid that pitfall.

Do what you said you would do

When you’ve promised a customer something, it’s extremely important that you follow through on that promise, and do what you said you were going to do. Whenever any promises are made to customers, they should be documented so that no one loses sight of them, and so they can be delivered upon at some point.

Following through on your sales pitch

After a sale is made, it’s a great practice to meet with a client and review all promises which were made and all agreements which were identified during the sales process. This amounts to an oral contract between the salesperson and the customer, which will go a long way toward ensuring good future relationships.

Be a brand ambassador

To show your clients that you really have their best interests at heart, you should learn the details of your client’s business, and have a good understanding of their processes. Congratulate them on any successes they achieve, and help to connect them with businesses which might make use of their services, just to show them that you’re actively involved in their business and that you care.

Establish metrics and KPI’s

A big part of customer retention is having a business relationship with your customers where you both agree that certain metrics are being met and key performance indicators are where they should be. To make this all happen, engage in meetings with your customers where you can discuss what these metrics should be, and what key performance indicators are telling you about the business.

Automate communications when necessary

If you have a small business, it will probably be fairly easy to stay in personal touch with all your key customers. However, for larger corporations that simply becomes impractical, and it may be necessary to establish automated communications as a means of staying in touch. One good way to accomplish this is to use an email system which regularly reaches out to customers, but still provides a personal touch from yourself.

Retain your customers with the help of JNI Lending

If you should require funding in order to enhance your customer retention program, contact JNI Lending to explore ways we may be able to assist. Keep in mind that any money spent on customer retention will be far less than what it will cost you to acquire new customers.