Customer retention is important.
It is not only important to attract and convert prospects into customers, but it is also important to keep them as your customers.
The ultimate objective is to turn your consumers into brand ambassadors for your company.
If you’re a subscriber to a service, customer retention is the goal.
You generate more money from existing customers than you do from acquiring new ones.
You won’t have to spend additional money and time attempting to persuade your existing customers to make a purchase from you, they are already purchasing from you.
In addition, if you keep your customers, you have a better chance of getting referrals. People don’t have to think about it very much.
So, how do we go about keeping our clients?
There are many ways to make money, but there are two that are likely to be the most important.
One of them is simple:
Make sure the product or service is worth the money or time. If there is a lot of value for what we pay, we will stay.
And the second important thing is customer service. Customer service is when you do two things at once.
First, through customer service interactions, you always point out extra value that we might not have known about.
Second, you make sure we don’t leave in a rage or with a bad mood.
The best way to think about a great customer retention strategy is to think about competence and attitude. It helps a lot to be skilled.
A bad attitude isn’t always bad. If there are only five other rocket scientists on the planet that people want, you’ll be fine. However, if you add a great attitude, you’ll be a must-have.
The Lora Centre for Innovation and Entrepreneurship is providing a brief online course on Customer Care commencing on April 4, 2022. Here is a link where you may read more about the program and apply online: Customer Care Short Course.