Customer Retention: Secrets, Solutions, and Practical Experience

Vũ Khôi

Author at Wotech Electronics Blog

What Is Customer Retention?

Customer retention is an indispensable activity in every business, because every manager understands that: succeeding in keeping existing customers helps the business reduce costs and time, whereas finding new customers is harder and requires more resources. Moreover, these very customers help the business considerably in advertising its products to the people around them, such as family, friends, and relatives. In particular, revenue from long-standing, loyal customers is regarded as a stable income source, helping the business survive and stand firm in the market longer. Every business wants to maintain and grow customer loyalty to their products — so how do you retain customers?

Among the 1001 ways to retain customers, SimERP would like to introduce some of the most effective customer retention methods, and the ones most widely applied by businesses:

General Customer Retention Secrets

Segment Customers Into Groups

This secret can help staff serve customers quickly and effectively. Depending on the customer segment, staff can offer specific strategies and solutions. As a result, the number of customers loyal to the business will increase, and revenue from products will also improve.

>> See more: How Should You Care for Existing Customers? What Are the Special Benefits?

Honesty

Many customer service staff exaggerate the benefits a product brings in order to stimulate purchases. However, this is not a well-regarded practice, nor does it bring long-term benefits. So be as honest as possible — customers will love you and choose your product first when they have a need.

Continuously Improving Product and Service Quality

This is the key solution for retaining customers. Product information and product benefits are users' top priorities. Why is the "Cursing Noodle Shop" in Hanoi always packed even though the seller's attitude is terrible? Because of product quality. So devote more time and money to improving and raising product quality.

Patience

In any industry, workers need to be patient — both with customers and with the tasks they take on. On the customer side, service staff need to be persistent and patient in persuading them to try newly launched products, answering questions in detail, and continuously striving to bring the business high revenue over a long period. For tasks assigned by superiors, employees need to be responsible for what they are given and never give up until everything is completed well.

Don't Overpromise

Never promise everything beyond the limits of what you can deliver, because it can put both customers and superiors in a difficult position. If the promise is kept, everything gets better; but if not, customers lose faith in the business. This disappointment can lead customers to choose a competitor and damage the reputation of the products and services the business provides.

Online Customer Retention Solutions

Provide Information on New Products

Today, with the development and ubiquity of social media and other internet applications, advertising and introducing new products to customers is no longer a difficult task. You can post articles about new products on Facebook, Instagram, or the company's website. In addition, email is a tool trusted by more and more salespeople. This is an effective customer retention art — it can even stimulate customer demand.

Send Customers Greeting Messages

This is another customer retention experience you need to know. On holidays or customers' birthdays, the business should send them a message with warm wishes. For each person, receiving wishes on important occasions can move them and make them feel more valued. So it doesn't take much time, effort, or money to send a customer a greeting message, and you will get back something many times greater, including revenue and the customer's loyalty to the business.

Receive Feedback From Customers

Usually, customers call the advisory department to give their feedback on products. If customers express satisfaction, thank them sincerely and strive to keep it up. If customers complain about the product, listen — don't interrupt them to make excuses for the company's product. Then, admit the mistake if the business was at fault, or thoroughly explain any misunderstanding the customer may have. In particular, whatever situation arises, remember to begin with a warm "hello" and end with a sincere "thank you."

Use Customer Management Software

Businesses should use software with customer management functions to retain customers more effectively, because it helps the business store and manage customer information fully and consistently, with fewer errors, while saving costs and time.

Connection Channels

Businesses should diversify their connection channels so customers can easily interact in all circumstances. For example, businesses should set up their own fanpage, Instagram, or Twitter accounts so customers can find them easily. In particular, open a chat box with staff regularly on duty on the company's website. The faster and more promptly questions are resolved, the more satisfied customers will be with the business's service attitude.

>> See more: Loyal Customers: Definition, Characteristics, and Benefits

Offline Customer Retention Strategies

Show Friendliness

For the task of retaining customers in person, staff need to show as much friendliness and warmth as possible toward customers, because they can directly judge your service attitude through the actions you take. Everyone wants to be welcomed and loved. So your friendliness will put customers in a comfortable, positive frame of mind to buy.

Serve Wholeheartedly

Some customers are easy-going and buy quickly, but there are also plenty who have many requests and questions, or even complain a lot without buying anything. In any case, you must not show a negative attitude toward them, because that proves you are unprofessional. Show respect for customers — they may not have a need to buy now, but your service attitude might just spark one.

>> See more: 6 Effective Customer Retention Strategies Every Business Should Apply

Be Punctual

Show respect for customers in meetings by arriving on time; otherwise, customers will think they are not your priority and feel disappointed. Being on time makes you feel more confident, earn customers' trust, and keep them choosing the company's products.

Communicate Proactively

Whenever a customer comes to transact, learn about products, or buy, staff need to proactively provide information, ask after them, and never let the customer feel lost. Without the staff's initiative, customers will sense the business's indifference and rate the service quality poorly.

Above, we have helped you answer part of the question: how do you retain customers? By what means? We hope your business can grasp the secrets above to help your products become more popular and spread across the whole market.

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