I want to take some time to drill down a bit
further on the topic of retaining clients and why it’s so important for
startups, small businesses, and even larger companies.
According to the book Marketing Metrics, businesses have a 60 to 70
percent chance of selling to an existing customer while the probability
of selling to a new prospect is only 5 to 20 percent. I’ve seen this
firsthand throughout my career and am a believer in the mantra that it’s
easier to retain customers than get new ones. When it comes to your
time and the company’s time, I think it’s better to engage existing
customers first.
1) Stay Hungry: As a service provider, I think it’s important to show
your client you are as interested in meeting their needs today as the
day you first pitched them. Imagine that you won over a potential love
interest with flowers, good restaurants and fun dates. Then, once you
were in a committed relationship, you just stopped trying to please
them. That’s a relationship heading in the wrong direction.
The same is true for your clients. I’ve found that the moment you start taking a relationship for granted is the moment you start to lose the client. Whether you are a lawyer, marketing professional, consultant, printer or retailer, it’s key to keep engaging your customers. No matter the company I started, I kept a record of my clients and the last time I checked in with them. If it’s been a while, I’ll reach out to them to see how they are doing and if they’re happy. This is one way entrepreneurs can show that you want their business just as much today as you did from the start.
2) Systemize: I’m often working on many projects at once and the only way I can hold down all of those responsibilities, while still making sure my companies are providing excellent customer experiences, is by putting systems in place for my employees to follow. Each customer may have unique needs but it’s important to me that my employees know exactly what is expected of them in the area of customer service.
One solution I’ve had success with is providing employees with a checklist. Questions on this list include: When is the last time we checked in, have our products and services been consistently delivered on time, are we hitting our agreed-upon goals for the client, and have the products and services we provided been effective. If you answer all the questions on that list, you will go a long way towards keeping a customer happy.
3) Engage: As I mentioned last week, soliciting feedback is one important way to ensure that your customer is happy. I’ve found that most customers are unlikely to speak up if they have a problem with a service or product they have purchased. They are far more likely just to walk away and never come back. That’s why making sure that you are meeting their needs as a vendor is vital to long-term success.
One company that has this figured out is the technology services firm Cisco. For example, the communications division at Cisco participates in surveys with its vendors on an annual basis. The survey has the client (Cisco) and the vendors rate one another on a variety of categories. Both groups then meet to discuss the results. I think that’s an excellent approach and really highlights the importance of engagement because client relationships are a two-way street.
Those are a few suggestions. What are some ways that your company monitors its customer service?
So if we accept the premise that it’s more effective to market your
services to existing customers, it helps to have a strategy to ensure
you’re keeping them happy.relationships
The same is true for your clients. I’ve found that the moment you start taking a relationship for granted is the moment you start to lose the client. Whether you are a lawyer, marketing professional, consultant, printer or retailer, it’s key to keep engaging your customers. No matter the company I started, I kept a record of my clients and the last time I checked in with them. If it’s been a while, I’ll reach out to them to see how they are doing and if they’re happy. This is one way entrepreneurs can show that you want their business just as much today as you did from the start.
2) Systemize: I’m often working on many projects at once and the only way I can hold down all of those responsibilities, while still making sure my companies are providing excellent customer experiences, is by putting systems in place for my employees to follow. Each customer may have unique needs but it’s important to me that my employees know exactly what is expected of them in the area of customer service.
One solution I’ve had success with is providing employees with a checklist. Questions on this list include: When is the last time we checked in, have our products and services been consistently delivered on time, are we hitting our agreed-upon goals for the client, and have the products and services we provided been effective. If you answer all the questions on that list, you will go a long way towards keeping a customer happy.
3) Engage: As I mentioned last week, soliciting feedback is one important way to ensure that your customer is happy. I’ve found that most customers are unlikely to speak up if they have a problem with a service or product they have purchased. They are far more likely just to walk away and never come back. That’s why making sure that you are meeting their needs as a vendor is vital to long-term success.
One company that has this figured out is the technology services firm Cisco. For example, the communications division at Cisco participates in surveys with its vendors on an annual basis. The survey has the client (Cisco) and the vendors rate one another on a variety of categories. Both groups then meet to discuss the results. I think that’s an excellent approach and really highlights the importance of engagement because client relationships are a two-way street.
Those are a few suggestions. What are some ways that your company monitors its customer service?
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