Many businesses assess their success by expanding their customer base, but it is not just about the new customers. As a business owner, it is essential that you comprehend the importance of customer retention. Customer loyalty is not a commodity, it is a valuable commodity that should be nurtured. In this blog, we aim to provide you with some insight into how to re-engage with existing customers and keep them purchasing from your company.

What is customer retention?

Customer retention is the ability to ensure that a customer will always return to your business for their purchasing needs. A company must strive to maintain the customers’ loyalty and trust, they must feel valued, and this will give them little interest in engaging with a competitor.

How to improve customer retention

Follow up

Aftersales service is essential when it comes to retaining a customer. Follow up on any completed sale with a call checking that all is well, if there are any issues attend to them promptly. It is common knowledge that when a customer is unhappy with a product or service, they will inform many more people than if they have had a positive outcome to their relationship with a business.

Re-Connect

It is always beneficial to re-engage with your existing customer base; the most effective solution is to divide these customers into groups based on their purchase history. This means that your business can send targeted emails or letters based on direct preferences. If a customer receives information that is relevant to them, it makes them feel you know them and they are important to you, this will increase their emotional connection to your company, and they will be more likely to return to you in the future.

Customer Feedback

Customer reviews are valuable. Many consumers will or will not contact a business based on their reviews. On your follow-up call after a sale, ask for feedback, if you have taken the time to get in touch, most companies are happy to oblige.

Rewarding Loyalty

When attempting to gain business from a company, providing an incentive or reward can be attractive. To offer a small discount or something free on a further purchase may be sufficient to prompt a further sale or the offer may just let a business know you are still present. Rewarding loyalty should not be underestimated.

Great Customer Service

The success of a business can be measured by the complete customer journey. When a customer purchases a product or service, keep in touch, and give the customer a point of contact if they have any queries. Even if the outcome is great, any issues that cause a bad taste in the customers’ mouth are not easily forgotten and could mean that they choose not to return. If anything goes wrong, keep that customer informed and let them know what steps you are taking to resolve the issue. If you are honest and transparent, customer satisfaction is much greater.

At UML we have been providing affordable workspaces for all kinds of businesses for over 50 years. Our clients are at the heart of our business, and we appreciate them greatly, ensuring they receive the attention and service they should expect. If your business is looking for a new home, we have a selection of offices, light industrial and storage units across South West London and Surrey that are suitable for both start-ups and established businesses. Get in touch with our friendly team today for more information.