Anything and everything in business revolves around the clients you have. A business growth rate can be defined by the rate of acquiring new clients but its stability can only be ascertained with retention rate. The chances of making a sale to an existing customer are 70 to 80 per cent while the chances of converting a new prospect are as low as 10 to 15 per cent. It is essential to have a steady relationship with your client to ensure your business growth and here are 5 ways to do this.
- Engagement
It is absolutely necessary that you have a regular engagement with your clients, through direct calls, newsletters, or emails. But these conventional methods maybe of little help to you now as most clients usually duck them. To have yourself heard you may have to change the usual “hope you are doing well” into a more creative and relatable approach.
A smart way to do this would be using few tools like Google Alerts and Talkwalker. They will help you get out of the conventional way of reaching out to your clients. Talkwalker gives you complete social media coverage globally to tap into social conversations in more than 10 social networks. Mention helps you monitor social sources so when you are trying to get in touch with your client instead of saying “how is business going” you may say “your tweet made me realize that we can help you with your business strategy, how about we catch up for lunch tomorrow”
- Feedback
Listening to what your clients think of you is more important than any other operational activity. A lot of products out there have an excellently devised system to accumulate user feedback and channel it to create a custom tailored product in that niche. RankWatch takes feature requests from its existing clients and designs products to satisfy their requirements.
Creating social accessibility will not only allow your clients to reach you quickly but also allow you to get back to them faster. Social media has become the fastest medium between clients and the marketer. It is crucial to build your reputation using social media. So my advice is start doing it before your competitors do.
- Personalization
Every product out there is offering something which is spectacular in its own way. No matter how incredible or new the product is you will have competitors soon enough. The only way you make yourself stand out is by providing your user with the best service and support. There are various standard ways to do it, but personalization is what will make you earn the user’s loyalty for life.
Send personal emails to your clients, use their first name, move away from the templates. EMC is one such company which offers personalized support to their clients with a dedicated point of contact. Try building closer personal relationships with your clients. When you feel the time has come try to engage them in small talk, find out more personal details like their hobbies, favourite music, vacation spots,etc. Emails should not always be solely work related but try weaving in a few personal touches.
- Reciprocate Gratitude
Express your gratitude for everything your clients have done for you but make sure they know that it is not because you are expecting something in return. Stay focused on what you can provide to your clients and not on what you want from them. This can range from tangible to intangible things. The list is endless. One example of such customer care is when Opryland Resort gifted one of its repeat customer a custom designed alarm clock. Upon each visit of the resort the client became more and more enchanted with the light music of the clock in her room. So much so that she searched for it in the open market and when she could not find it she reached out to the resort on Twitter. They told her the clock was custom made and not available to the public. But to her surprise the next time she visited the resort they gifted her one as a gesture.
Giving is the most lucrative way to connect to your clients and strengthen the bond. No wonder that it will earn you their loyalty as well.
- Product Advocacy
The best way to convince new clients to purchase your product is to ask your existing clients to write reviews and testimonials. Advocating your product through your best client makes them realize how strongly you value your relationship and it instills confidence in your customer prospects.
According to you what other factors come into play when it comes to retaining and building a relationship with your current clients?