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Does everyone know your name?

Apr 09, 2015

A friend of mine had a GREAT deck built ($30,000 worth). When my husband & I complimented him on the deck and asked who built it for him, he did not remember the contractor’s name! Six months later he remodeled his home and the deck builder missed the opportunity to get the next big job. Do your customers remember your name? Time and time again, we have all heard that it is cheaper to get work from an existing customer rather than trying to gain new customers.

Here is some information and tactics to ponder.

Did you know….

If you can increase you customer retention by 5% you can increase your company’s profitability by 75%. (according to Bain and Co.)

If that does not impress you, 80% of your company’s future revenue will come from just 20% of your existing customers (Gartner).

Still not sold on retaining customers? Getting new customers will cost your company 5 times more than keeping existing customers and having them refer you to their friends. What is the best way to get repeat business?

One of the best ways to keep customers is to stay in touch with them after the project is complete! Here are five ways to stay in touch with customers long after you have completed their project.

Email – Email remains one of the most efficient and cost-effective ways to keep in touch with customers. But it has to be done correctly, it should contain relevant content, be sent in a timely manner, and be personalized.

Phone Calls – Sending email is a quick way to communicate, but that does not mean you should stop calling.

Feedback – Asking for feedback is one of the best ways to stay in touch with customers. It shows that you care about them. It can also help you spot small problems before they become big ones.

Social Media – Social media allows two-way communication with your customers and improves your customer service, which has been shown to be invaluable in customer retention.

Gifts – Everyone loves to get gifts. And when you give gifts to your customers, you’ll express your appreciation for them while meeting your goal of staying in touch, whether you send a holiday gift, a note that celebrates an accomplishment, or some other token that lets people know that you value their business.

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