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Tips for Customer Retention

    • 344 posts
    June 23, 2011 5:28 PM EDT

    Whether business is booming or suffering, ensuring that the business can keep its customers will mean that it will continue to exist. Retaining customers is an essential part of a successful company and it is the only way that a business will be able to grow. Many customer retention tips will relate to common courtesy and pleasantries that can be displayed in all aspects of life. As ruthless as some business areas can be, failing to treat customers well will not help the business. It should never be forgotten that where there is competition for business, there is choice for customers.

    Here are 5 tips for customer retention:

    1. Learn their needs. The number-one reason customers state for cancelling a service is “I no longer need it.” You need to find out why customers are saying they don’t have a use for your company any more. Within that answer is a marketing or product-improvement opportunity.

    2. Develop a “save” strategy. If a good customer is headed out the door, what is your game plan for keeping them? Develop your strategy ahead of time so that your staff understands what to do if they learn a customer is departing.

    3. Give them a great reason to come back
    Special offers and incentives to your existing base can be very effective and have a higher conversion rate, than promotions to new customers. Unless you have a product or service that is likely to only be purchased once, this can be highly effective. Many businesses forget to let their existing customers know about new services or products on a regular basis or give them a more attractive incentive than new customers to come back or stay signed more


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