The art of retention

Nick Green, founder blogs about the best way to retain customers.

A basic business premise is that it’s easier and cheaper to run a business that is based on returning customers rather than constantly having to acquire new ones.

So how best can we ensure that we retain customers?

Firstly there are the basics, such as instilling great customer service skills in your sales team. We all think we offer it but how much time and effort do you put into finding out what your customers really think? Two ways to do this is to ask them to fill in an anonymous survey or even just pick up the phone to gain their feedback which provides a much more personal touch. Honest customer feedback will be the driving force of your business which will move it forward to become a success. These are the basic customer service measures that all businesses should implement, but it’s also essential to think outside the box and explore other ways to create and maintain customer loyalty.

A great example of a business that has got it right is Waitrose with its new scheme designed to encourage consumers to shop there. The supermarket is offering £5 off of a customer’s first order, £10 off the second, £15 off the third, £20 off the fourth and £50 off the fifth. Offering a discount scheme that isn’t a one-off will raise the probability that the customer is then hooked on the Waitrose shopping experience – a well thought out plan! Whilst this is not a full-blown loyalty scheme, it is a great way of enticing repeat purchases and hopefully building a relationship with new customers.

Source: "The art of retention" (Print Week)


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