When growing your business, you’ve probably heard of the good ol’ 80/20 rule. It has been proven that 80% of your business comes from 20% of your customers, and that loyal customers are cheaper to retain than new ones are to acquire. Well if that’s the case, then wouldn’t you do just about anything to keep that core group of customers coming back time and time again?
Do you know why clients end up taking their business elsewhere? Here’s the answer:
In other words, 68% of clients find business elsewhere because they view that you are indifferent to their needs and the fact that they chose YOU. They believe that you don’t care about them much at all!
So what can you do to keep your customers from straying?
• Personalize their experiences.
Think outside the generic emails and e-newsletters. Those can be useful tools for advertising, but the more personalized you can get, the better. Write them a “Hey, how have you been lately?” email, or pick up the phone and say that you were thinking of them. Send them a happy birthday card, and if you really want impress, make it handwritten!
• Offer various types of touchpoints at different times.
The goal is to create ongoing engagement. This can depend on how often you transact with a client over their lifetime. For example, if you are a realtor or mortgage broker, and your average client transaction is once every 5-7 years, you might want to think about your long-term strategy and what month/year you are planning to create a touchpoint. Which years are the most important to remind them that you care? From birthday cards, pop-by gifts, dropping by to say hello, phone calls, emails, surprise milestone gifts… the list is endless. Consider how much you want to budget for each client over their lifetime, and vary the types of items you gift to them.
• Stay relevant.
When engaging your client, how can you create a touchpoint that has a lasting effect? Gift cards, cards, and consumable items can certainly make an impression, but once it’s used up, it’s gone! Think about giving products that will last, such as promotional items with your brand and slogan on it. Something that causes your client to say “Oh yeah, this is the beautiful mug that Joe gave me… he is such a thoughtful guy!” Anything that keeps you relevant in your client’s lives and constantly reminds them that you care.
And don’t forget to keep up with technology! Engaging your clientele through Facebook, Twitter, Instagram, and/or Pinterest will help you keep up with those millennials. Find the best social media outlet for your business, create interesting content, and choose the right target audiences.
Put yourself in your client’s shoes for a moment and think about a business that you usually go to for their services. How have they recently reached out to you to let you know that they truly care about you and are grateful that you chose their services? How often are they on your mind?
You can reverse this loss of indifferent clients through proactive retention strategies to remind them that you value their relationship and are here to give them a helping hand!
If you’re serious about developing a program for client retention strategies and gifts, we offer solutions that suit your business needs. The Gift Designers isn’t just a gift basket company; we exist to help other businesses grow their customer loyalty through automated gift and touchpoint programs. We do all the work and provide a system to save you time, effort and money!
Call us today to learn more about how we can help your business grow!
– The Gift Designers Team