Increase Customer Retention and Loyalty

customer retention and loyaltyCustomer retention and loyalty go hand in hand. The more loyal your customers are, the greater your customer retention is. And the greater your customer retention is, the more money you make in your business. The longer customers stay with a company, the more they are willing to spend. You also lower your marketing and client acquisition costs resulting in greater profits from keeping the clients you have.

It all makes sense, so how do you build customer retention and loyalty? You have heard of know, like and trust in business, right? To build that in your customers, you need to get to know them and allow them to get to know you. The more you know and understand each other, the more your clients will like you. Certainly, this doesn’t mean you need to air your dirty laundry or let them in on all the details of your life. There should be a professional line that you don’t cross.

Building Customer Retention and Loyalty

Know – Find out about them. Ask questions. Learn a little more than just what you help them with professionally. Treat them like a whole person. You can get to know your clients through client information forms, conversations, and asking questions (but don’t pry where it isn’t wanted). Learn about their family and loved ones as well as their professional goals and accomplishments.

Like – We tend to like people who like us. So if you want your clients to like you, you should show an interest in them and let them know you find them interesting and you care about them and their needs. Show an interest in their personal and professional life as appropriate. Each time you interact, ask about something that you know is important to them. Encourage them when they face challenges. Celebrate their accomplishments, milestones, birthdays.

Trust – Follow through. Do what you said you would do. When you mess up, admit it and fix it. Help them get the results you promised. All these things build trust with your customers. It teaches your clients that they can count on you.

Loyalty – When your clients feel that they can’t live without you, that no one will take care of them the same way you will, that’s when you have achieved loyalty. Once clients are loyal, they stay with you longer. Then they begin telling others about you and building your business for you.

How do you develop know, like and trust in your business? What do you do to encourage customer retention and loyalty? Share in the comments.

 

Comments

  1. Janessa Baar says:

    Great share!!! Love following your posts!

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