First and foremost, if customer loyalty is not paramount at your company it should be. It’s critical for positive cash and laying a foundation for growth.
Businesses lose business 70 percent of the time because customers feel taken for granted.
In this digital age with a heavy reliance on social media, the Internet is indeed important. But the No. 1 reason – at least 52 percent of the decision-making process – why people buy a product or service — is what customers think of a company’s spokesperson and sales reps.
Yes, the quality of the product is important, but for customers to really feel like they’re making a smart buying decision, they want a good rapport and to feel appreciated.
It’s also true that sales and networking strategies build strong relationships.
That’s the best way to turn customers into brand evangelists, especially women, who make the majority of buying decisions in a family.
Here are 11 customer retention and referral strategies:
1. Like a marriage, to enhance any business relationship, it helps to listen during 80-90 percent of conversations.
Women, especially, prefer salespeople who listen to their concerns.
Typically, women make 80 percent of all household-buying decisions.
The No. 1 complaint women have about men is that “they don’t listen” (according to hundreds of women in workshop comments from my two+ decades of human-resources training).
2. Create an interactive dialogue and invite feedback.
3. Provide the best service.
4. Don’t get defensive in the face of criticism even when the customer is wrong – simply take notes and use basic assertive techniques.
5. Be careful in all negotiations. Use best practices in negotiations.
Yes, the quality of the product is important, but for customers to really feel like they’re making a smart buying decision, they want a good rapport and to feel appreciated.
6. Upon receiving a compliment from a customer, ask for two referrals – the names and contact information of “two people just like you who this need great product, too.”
7. Provide added value without hurting the bottom-line.
8. Prevent buyer’s remorse by reminding the customer of the value of the purchase.
9. Say and write the magic words, thank you, at every opportunity.
10. Depending on the level of purchases, make personal contact a priority.
11. Never assume customers are forever. Remind them in subtle ways why it’s beneficial to do business with you. (See the top 11 tips for a great elevator pitch and the seven steps to higher sales.)
So if you’re losing customers, improve your odds with excellent customer-retention and referral strategies.
From the Coach’s Corner, here’s related information:
How to Best Profit: Word-of-Mouth Advertising, Customer Service — When was the last time you explored options for improving your word-of-mouth opportunities? Here’s a hint: Customer service is the No. 1 key to good word-of-mouth advertising and repeat business. Here 10 tips.
11 Sales Strategies to Outsell Your Big Competitors — Big companies have obvious advantages over small businesses. Their brands are well-known. They can afford sales training, sales-support staff and customer-relationship management software. On the other hand, there are good reasons why Cyber Monday has become big. Yes, many online customers do it to save money on sales taxes.
The Lost Art – How and Why to Use Cold-Calling for Higher Sales — Are you lacking in sales? Do you get enough face time with the right prospects? Here’s how and why in-person cold calls will help you make sales.
8 Tips for Cold Calling By E-mail and Telephone — Since the advent of the digital age, cold calling went out of vogue. But in the lingering downturn – whether you’re in advertising or staffing services – cold calling has become the logical tool to use to generate clients or business customers.
Want More Revenue? Avoid the 7 Deadly Sins of Selling — Whether you are an established company or a startup, what you probably need most in this economic climate is a positive revenue stream. It’s possible with a higher-performing sales staff.
“Quality in a service or product is not what you put into it. It is what the client or customer gets out of it.”
-Peter Drucker
__________
