Adapted from Tricia’s Customer Service Success Blog. Did you know that returning customers spend 33% more that new customers? How about that it costs six times more to sell something to a new prospect than to a current customer? Or what about that just a 5% reduction in the customer defection rate can increase profits by 25 to 85%? Learn how to retain customers and add significant value to your company. Read more of Tricia's blogs at www.parature.com/blog.
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1. 5 Ways to Keep theOriginally Posted onDecember 20, 2011
Customers Youby Tricia Morris Already Have
2. According to MarketingInsights from A to Z author, 70% ofDr.
Philip Kotler, most marketingbusinesses spend budgetapproximately
70% of their spentmarketing budget on attractingattracting new
clients rather new clientsthan investing in improvedrelationships
with the onesthey already have.
3. BUT CONSIDER THE VALUE OF KEEPINGCURRENT CUSTOMERS HAPPY
Repeat customers spend 33% more than new ones. It costs six times
more to sell something to a new prospect than to a current
customer. Depending on the industry, just a 5% reduction in the
customer defection rate can increase profits by 25 to 85%.
4. According to global consulting firm, Protiviti,the top
business challenge for non-financialservice companies in 2012 will
be improvingcustomer loyalty. Businesses have learnedthat no matter
how great they think they are,their customers will be the ones to
saywhether or not thats true.
5. For companies with thousands or hundredsof thousands of
clients, showing truecustomer care is no small task. Savvycustomers
can detect insincere efforts,especially when customer
appreciationefforts seem to coincide with contractrenewal
dates.
6. Dont wait until a client is halfway out the door beforeyou
ask them to stay. Here are 5 ways to ensure yourcustomers remain
where theyare, and realize that theyre in good company:
7. NUMBER ONELISTENListening is a must for both attracting and
keepingclients, but its something businesses andorganizations often
find challenging. Manycompanies have trained their sales staff and
CSRsto reply with rehearsed answers when it comes toresponding to
their customers commonchallenges. But to build customer
affinity,companies must truly listen to each customersunique
questions and conversations and reply witha custom response.
8. Organizations must also make an effort tolisten across more
channels. As customersbecome more connected, so mustcompanies. Be a
part of onlineconversations across a variety of venues,and
proactively engage your customers withfeedback requests and
customer servicesatisfaction surveys.
9. NUMBER TWORESPONDMake a concerted effort to
effectivelyengage with customers across all 70% ofmajor touch
points, including socialmedia. A 2011 Maritz Research study
customershows that 70% of customer complaintscomplaints on Twitter
go unanswered. on TwitterAn organizations social media gopresence
should involve two-way unanswered.conversations, especially
wheninitiated by a customer complaint.
10. Go the extra mile to ensure customersreceive the most
helpful answers possible.Involve all departments in customer
service,because not every customer question onyour website or on
Facebook can or shouldbe answered by marketing or your PR
firm.
11. NUMBER THREEMAKE IT EASY TO BE A SATISFIED CUSTOMERGive
your customers the information theyneed in clear and
easy-to-understandlanguage. How-to videos are becomingincreasingly
popular, as people no longerwant to spend time reading
detaileddescriptions or instructions.
12. Provide more customer self-service options,and improve
personal customer service bygiving customer service reps access
toeach customers complete service history.When a CSR thanks a
customer for stayingwith their company for five years, or knowsthat
a customer has had service problemsbefore and needs extra TLC, that
can makeall the difference when it comes to customerretention.
13. NUMBER FOURREACH OUTNurture your customers with an attitude
ofgratitude and an exceptional customerservice experience every
time they makecontact with your organization. Throughblogs, social
media and e-newsletters,provide them with content and tips that
theywill find interesting or helpful.
14. NUMBER FIVEKEEP IT REALAutomated responses are no
longeracceptable. Real customers want to dobusiness with real
people. Build customerrelationships through conversation andshowing
the human aspect of yourorganization.
15. Through numerous studies, behavioral psychologists 70% of
have shown that more thanconsumer and 70% of consumer loyalty and
loyalty and spending decisions are spending based on emotional
factors.decisions are based in In relation, a Core emotional
Communications study found factors that consumers are more likely
to be loyal to a brand based on the charities or causes it
supports.
16. Even the biggest companies have begunfocusing on the human
aspect of theirorganization, as witnessed by personal-care-centered
ad campaigns such as Flofrom Progressive, Charles Schwabs Talk
toChuck, and State Farms friendly Jessica. Ina world focused on
technology, customersstill need and want a human touch.
17. So in 2012, make a resolution tolisten, respond, reach out,
keep it real, and make it easy for your currentcustomers to stay
loyal to your brand. Appreciating and keeping the customers you
have is the key to sustained success. Winning new clients
(especially through customer referrals) is an added bonus.
18. MORE CUSTOMER CARE CONTENTYOU MAY BE INTERESTED IN
BuilderMT Success Story: Building Customer Satisfaction from 66% to
90%. White Paper: Five Trends in Social Media for Response
Management and Customer Engagement 6 Simple Tips for Collecting
Better Customer Feedback FIND THIS CONTENT AND MORE AT
http://www.parature.com/blog/