A crucial part of any business is gaining clients and retaining them.
Why is customer retention important? Because approximately 20% of your current customers will contribute 80% of your future revenue.
Sometimes, clients may depart from your business for different reasons. The good news is that you can recover them. 1to1 Media highlighted five steps towards recovering lost clients. These are:
Step 1: Track. Quantify client volume and departed business. This can be done quarterly or monthly depending on your business model volume.
Step 2: Segment. Departed clients offer different value to your enterprise. They should be segmented in order to establish priorities for reaching out.
Step 3: Reach. After determining who you want to save, it’s time to reach out to them. There are many channels of communication you can use for this purpose. What you want to do in this stage is to find out why the client departed, not to make a sales pitch.
Step 4: Categorize. Separate the reasons of departure into categories. You’ll find the trends in issues which will help you figure out strategies to correct them.
Step 5: Care. When a client comes back to your business, it’s best to monitor his or her experiences and purchasing behavior. You should regularly reach out (but not too much) so that the client knows you’re paying attention.
This process can help you recover lost clients, especially the valuable ones. Also, there are many strategies you can use towards retaining your existing clients. One of these is using business greeting cards.
In today’s digitally saturated age, that might sound old-fashioned, but greeting cards are still among the most effective tools in engaging your clients. These give your business a more personal touch. Moreover, cards put your venture’s name in front of the client without feeling like a sales pitch.
If you’re planning to use greeting cards for your business, it’s best to go a step further by using customized greeting cards, as these feel even more personal. When you send greeting cards for particular occasions (birthdays, customer appreciation, etc.), your customers will feel how much you care for them. They’ll remember you more clearly and glad to do business with you. Take a look at specialist firms such as Client Retention and ask about customized greeting cards for your enterprise.
(Source: 5 Steps for Regaining Customer Trust and Customer Revenue, 1to1 Media, Feb. 27, 2015)