Often, businesses think that going after new customers is a nice way of improving the customer retention they have. Which is true. However, that should never involve losing the customers you already have. Keeping the customers you have in your pocket might bring more business than you would ever get going after the new ones. In fact, the surest way of making your business more successful is to make use of the gold mine you are sitting on instead of going after new mines when you don’t know what will come of them. So how does a startup retains its current customer base?
1. Keep in touch
Most times customers leave because they feel like they stopped being special to you. After all, it is the nature of human beings to want to feel wanted. Your customers want to feel special to your business. One way of making them feel like they are a special part of your business is to stay in touch with them. This may involve sending emails to them every so often informing them of new deals, special product reviews, special offers, and outreach programs among other things.
2. Carrying out surveys
Surveys show the customer that you value their opinions. Conducting surveys is very important for generating customer feedback on your business and its products and services. Customers also appreciate entrepreneurs who would like to know what opinions they have. In fact, it is proven that customers who are asked to fill in surveys happen to stay with their business providers more often than not.
Nothing in business proves the credibility of a business like an honest entrepreneur. This involves accepting that you may have made a mistake and taking it upon yourself to solve it with the knowledge of the customer. When you admit to having made a mistake, it shows how honest you are. The client is also more obliged to stick with you because they would rather stay with someone they trust than go to a whole new provider they have never done business with.
4. Contests and Special Events
Occasionally undertaking contests and hosting special events for your customers is a very good way of continuing to create rapport with the customers you already have and even generating new customers in the process. Special events relating to your customers or products are also special to your existing customers because they want to know what is happening with the company at every point in time. Contests encourage customers to fight for something in a fun way making them more easily attached to your business model than your competitors’ models. This is especially the case when the competition doesn’t have contests.
5. Discounts and free trials
Most entrepreneurs think that discounts and free trials are designed to bring new customers to your business. However, that same model can be used to retain the customers you already have. Provide your current customers with free trials to new products or upgrades, give them discounts on the same and you will see the value for that.
Did I forget any other tips? Let me know in the comments section below.
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