Building and retaining customer relationships is the foundation of a successful business. I’m sure you have heard this all before but I don’t believe there are too many times it can be repeated. The best metaphor I’ve come across is relationships are currency in the business world. But the artistry of turning this ethos into success; is the way you would manage and develop relationships with your stakeholders.
Building relationships firstly involves understanding and listening to your customers to know what their needs are and what makes them tick. As you develop more relationships and gain more returning customers; then this should have a good effect on your business cash flow. But of course there is a lot more to it sand wedged in the middle.
So what are the key pillars in making sure you are on the right track? Our savvy team here as come up with some ideas for you have a look at.
Also, it’s worth noting that as a small business owner you are in a fortunate position whereby the size of your company allows you to each people at a more personal level, which in theory converts into stronger relationships quicker!
Communication. It’s obvious but can be neglected. It is key to any relationship to have strong and clear communication, and customers will always appreciate this and thus be more receptive to you. You don’t have to simply tell your customers about your business and services etc., you should have conversations with them.
Exceeding expectations. The philosophy of doing the absolute minimum expected by a customer probably won’t add much value to a longer term relationship. You need to go out of your way to executive the best possible product or service. To put it simply, under promise and over deliver. When you impress customers, they keep coming back!
You need to know exactly what your customer thinks of your business and services, so always ask for as much feedback as possible. You perception of your service and your customers perception of your service may be apart, and this is something you have to be aware of.
Connect, connect, and connect. There are vast amounts of platforms to engage with customers via your business; so there is really no excuse to not keep them updated and communicate. The best trick is to create a two-way communicational environment whereby you are having conversations and asking questions with the customer, as opposed to simply providing information. There is a higher trust indicator if there is substance to the conversation.
Reward and show appreciation for your customers choosing to work with you! You don’t need to make a big song and dance about it as such, but thanking them and rewarding loyalty should be at the forefront of your customer retention philosophy. You should never get complacent with your customers faith in you!
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This post was written by Chris Beck