Exceed Your Clients Expectations
Poor customer service is the number one reason customers do not return to make additional purchases. Implementing client retention programs will not only lower your loss client ratio but also increase your long term revenues.
In a tough or normal economic situation, business owners and executives all too often forget about their current clients. Given the high costs of new sales (the cost of a new client sale is normally 5-10 times the cost of retaining a client) all members of an organization should focus their efforts on retaining the current client base.
When was the last time you reviewed your client base and asked how did the original sale occur? Was it relationship based? Need based? Did the client have a choice? How often do your customers repeat or increase their sales? How many clients have not been repeat customers?
If the answer to the last two questions is “not many or zero” it is time to improve your company’s policies and procedures. A sale does NOT end after the client makes a purchase. Everyone in the company is in the client satisfaction business.
To learn more about client retention and controlling loss clients you may want to read the following articles.
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Would you like help with your specific client retention issues? Contact us today for a free 1 hour consultation.