Many Businesses are Neglecting This Important Sales Aspect

Hello again,

So you’ve finally made the sale.  What do you do now?  You may think it’s time to move on to the next new customer, but actually now is the best time to focus on retention.  Check out the below reasons on why:

1.     You now have an established relationship, which can simplify future orders.

2.     80% of your company’s future revenue will come from just 20% of your existing customers. ¹

3.     Your existing customers will become advocates for your business.

Now that you know a few good reasons, what do you do?  

Here are steps to take to increase your customer retention:

·      Hit while the iron is hot.  Now that you’ve made a sale, it doesn’t mean the urge to buy has cooled.  Now is the best time to set up a personalized channel for this customer to buy from you again and again.  Show your customer you’re grateful for their business and provide a reminder of why they chose to place this order with you in the first place.

·      Ask for honest feedback.  By having them be candid about their experience, you let them know that you’re willing to go the extra mile for them and correct any initial bumps that may have made the relationship less than stellar.

·      Add them to your calendar.  This is not to say excessively e-mailing your customers with anything and everything.  What it means is that by having set dates on your calendar to periodically touch base with your customers they will know you’re keeping them in mind, which can be appreciated.   What do they normally prefer e-mails about?  Discounts!  Percentages off and free shipping are the two most popular. ²

We hope our blog was helpful this week.  Please let us know if you have any questions or comments.

1.  Jao, Jerry. (Nov 19, 2014).  Why Customer Retention is King: The Evolution of Retention Marketing.  Forbes.com.  Retrieved from: http://www.forbes.com/sites/jerryjao/2014/11/19/why-customer-retention-is-king-the-evolution-of-retention-marketing-part-1/

2.  Ecommerce Marketing Survey 2014.  (Sep 09, 2014).  Retrieved from: http://www.retentionscience.com/ecommerce-marketing-survey-2014/#sthash.pLqzhQ7Q.dpuf

3.  20 Customer Retention Strategies.  (Dec 23, 2008).  Retrieved from: http://marketingwizdom.com/strategies/retention-strategies