Ion of the Month: Retention
It’s all very well going out there and attracting lots of shiny new customers, but are you looking after them enough? When someone - a business owner or a member of the public, it really doesn’t matter - becomes a customer of yours, they’ve started out on a journey which can be rewarding for them and profitable for you. It’s an opportunity rich in potential, but if you want to make the most of this potential, you need to put some work in. Your customer is here, right now, and they’ve been willing to spend money with you... wouldn’t you like them to spend more? Of course you would.
Your role as a supplier (vendor, seller, whatever you want to call it) doesn’t end when a person pays you and leaves your premises with your product. You’ve started a relationship with them, and as with all meaningful relationships, you need to put the effort in if you’re to get the best results. And the relationship counsellor you need for this very special bond is Agenda. We’ll give you practical pointers on how to keep your clients interested in what you have to offer, with the help of an intriguing little assistant we call Retention. He (or is it a she?) understands the importance of forging and maintaining long-term connections with your client base.
Retention is of the firm belief that you mustn’t ever think of your customers as one-hit wonders. Why would you want to only see them the once? Wouldn’t it be so much better if they came back to you again and again, each time spending money - and potentially spending more each time? Burning up sales leads is bad, but burning up customers you’ve already won over is madness.
To rescue you from this massive complacency-led pitfall, Retention will help you to enhance several processes within your business. First of all, you have to wow your customers with your products - if they aren’t impressed with what you’ve sold them, they won’t have faith in the rest of your product range (or in buying anything else from you). Next, impress them with the service you provide - build up a rapport, learn about their likes and dislikes, and make them feel special. If they enjoy dealing with you, they’ll want to repeat the experience. Finally, keep in touch with them after they’ve left, and look at ways to keep them. Loyalty rewards and discounts for long-term customers are simple incentives - you don’t have to slash your profit margins, but by showing a little faith in your existing clients you’ll earn a massive amount of goodwill.
Above all, you can’t ever take your customers for granted. They might have bought from you in the past but you might not see much of them, so you don’t know if they’re busy talking to - and buying from - your competitors. They’ve bought from you before, and it’s essential that you make sure they continue to do so. Marketing isn’t just for new customers - it’s about telling existing customers what you’re doing, reminding them that you’re still here, and making them realise that you’re better than everyone else. With help from Agenda and Retention, you’ll be able to do just that.
