Why You Need to Work on the Relationships of Your Existing CustomersSales Pro Source
April 16, 2013 — 947 views
A successful business is not deemed by the product or service that you offer; rather it will be calculated by the number of customers using the product or service that you offer. The most important goal for most of you is to increase the clientele for business expansion. While it is not a bad thing to get more customers to increase the growth of your business, did you ever consider the reasons why few of your old customers or clients have stopped using your product or service?
Why Did the Customers Leave You?
Reasons could be plentiful but some of the most common reasons could be that your product or service is too expensive for them, or it doesn’t really meet their purpose. Unresolved grievance is another major factor. The worst would be if your customer started using a competitor’s product or service because you completely ignored the existing clients. This could be because you were too busy expanding your business. Considering these situations, it is justifiable to say that your customer was with you because he/she believed in you and had formed a relationship with you.
Importance of Retaining Existing Customers
The larger part of our budget fixed for marketing is concentrated on getting new clients for business expansion. To ensure that they associate with you, you have to go all out to make them trust you. The relationship that you share with your customers is the most important aspect of any business and if you fail to foster that bond and retain the existing customers, then your business will eventually crash.
Your existing customers will be the first ones to try out a new product or service willingly, as they have faith in what you have to offer. Their referrals and recommendations will be very helpful as you wouldn’t have to spend as much time and effort in convincing a prospective client. In comparison, asking your existing customers for a repeated association will be much simpler and inexpensive.
How can you Retain Existing Customers?
To let your existing customers know that you care about them, you should interact with them often. Your CRM team can ensure that they are happy with your product or service, and can look into any other requirement or feedback that they provide. Use their feedback to improve your product, and let them know about it so that they will understand that their opinion is important to you.
Studying the market and your competitors to develop your product and service is a very good way to ensure that you do not lose your existing customers to them. Come up with new and exciting offers and deals that your customers will be thrilled about.
You need to understand that your customers are very important to you. Making them happy at all times should be your main priority. Whether it is doorstep delivery, a small gift during the holiday season, a feature on your website, or a time-to-time hello; these are the small things which will go a long way in ensuring that your loyal customers keep running back to you.
Sales Pro Source
A successful business is not deemed by the product or service that you offer; rather it's by the number of customers using the product or service that you offer. This article explains how to keep existing customers while gaining new ones.