Retain Customers Without Breaking the Budget

The reason so much emphasis is placed on customer attention is that it’s simply much easier and much less costly to retain customers than it is to go out and find new ones constantly. Many organizations make the mistake of investing heavily in sales and marketing while investing very little in customer retention. Here are some customer retention tips you can use to save money, rather than constantly having to acquire new customers.

Follow Through on Promises

One simple way to help retain your customers is to follow through on any promises you’ve delivered so that you can meet the expectations of your customers. The best way to do this is to document any commitments you’ve made to clients, so you won’t be overlooking them.

Establish KPI’s

In order to ensure that you’re delivering value to your customers, you should mutually agree on key performance indicators which can be tracked. This will guarantee that you hold up your end of the bargain, and if you fail to do so, the indicators will make it clear exactly where your efforts are falling short.

Use Automation When Necessary

Using automation such as scheduled emails which are broadcast to customers may lack the personal touch, but when one-on-one contact is simply not possible, automation becomes a necessary evil. This will at least allow you to stay in contact with your clients, so they don’t feel like they’ve been left behind and forgotten.

Manage Client Accounts with Multiple Personnel

When you have a single individual in charge of any specific client account, your company is vulnerable to losing that account for any one of several reasons. That makes it important that you establish multiple relationships with your client so that if one account manager leaves the company or mishandles the account in some way, you have an alternative to fall back on so that you can still retain that customer.

Need funding for a customer retention program?

Funding a formal customer retention program can be much less expensive than seeking out a number of new clients. Contact us at Commercial Capital Partners if you’re seeking capital to implement a solid program that will keep customers loyal to your business.