Many times when we address key customer retention strategies and customer retention success stories, the crux of what we’re saying is that you have to get to know the customer on more of a personal level. You need to build a relationship and not relegate yourself to viewing a customer as a prospect and selling to them as if you don’t even know them.
But this blog post is different. This time, I want you to envision yourself in a meeting at your business, and the meeting is all about customer retention and growth. Before you can develop a strategy, you have to ask yourself some key questions about your current state:
- Do you know why existing customers initially bought?
- Do you know why they would not return?
- Do you know who your customers view as your competitors?
- Do you know what differentiates you from your competitors in your customer’s mind?
- Do you know the differences in demographics, purchasing patterns, participation rates of clients who return every year v. those that don’t return?
- Do you know what internal operational factors impact those customer retention drivers?
- Do you know how you’re performing in those internal operational areas?
- Do you stay in contact (proactively) with customers, even when they’re not in your store, on your website, or contacting you directly?
- If so, are your proactive communications about you or personalized about them?
- In other words, do your proactive communications seek to learn more about them and educate them, or are they primarily pushing your products and services?
Before you embark on the next big strategy, do a self-scan. Find out what you know…or need to know first.
Ask yourself and those in your organization these 10 Key Customer Retention Evaluation Questions.
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