Business 101: How to Improve Client Retention

A company’s client retention rate is perhaps one of the most important aspects of running an organization. It takes a lot of hard work and dedication to persuade clients to invest in your company, but it’s even harder to come up with practical ways to keep them coming back. It can also be challenging for business owners to keep their clients satisfied throughout the journey. This is why it helps to go the extra mile for clients whether that be through online or offline efforts. Sounds pretty simple, right? Well, not exactly.

One common problem company owners tend to run into has to deal with their priorities. That’s because business owners can sometimes focus too much on the deal and not enough on the quality of service. Although it’s important to globally market your services to balance out your ROI, it’s also equally important to stay focused throughout the journey. So, if you want those referrals that will keep your foundation solid, you’re going to have to invest in those clients that are investing in you.

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In the world of business, it helps to remember that no matter how much work you put into a client, not everyone will return. It’s nothing personal; it’s just business. Knowing how much effort to invest in your clients, however, will keep them coming back if they ever need your services again. So, what can you do to improve client retention moving forward? Here are some easy-to-adopt strategies to help you improve client retention in your own business:

Communicate Often

Relationships with clients will never last if there isn’t some form of communication present. If, for example, you made a mistake on something or a client has questions about some onsite content, it shouldn’t be a problem for them to call you and vice versa. In order for these problems to get resolved in a timely manner, however, you both need to communicate often and as accurately as possible.

Although it’s hard to monitor if certain strategies will work, the more forms of communication you both have, the fewer gaps there’ll be in the long run. This also means taking on fewer risks that could ruin your relationship with your client. One thing you can do is offer meetings whenever your client stumbles on something or has questions. That way, you both can identify problems together, go over any weak points, and accomplish the task sooner. Remember: communication builds trust, and trust builds loyalty.

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Keep the Human Aspect Alive

No matter how advanced technology gets, clients still crave human interaction. Why? Because it’s easier to speak with a real person than it is a machine, especially if they have specific demands. So by adding personal touches to your company’s digital marketing approach, you can not only retain clients, you can also develop new relationships. Adding personal touches to your company also does a number of other things that can help retain clients.

Aside from humanizing your company to your clients, it also makes it harder for them to part ways with you knowing that you’re a real person looking out for their best interests. To put it another way, since customers are more likely to remember a person over a machine, they’re also more likely to return when they need something.

Make Sure You Know Your Clients

As a customer, would you prefer to work with a business that knows you or one that doesn’t? Most customers would prefer working with someone that knows all about their demands and restrictions. Why? Because people not only want to be known, they want to be understood.

In a recent study, clients who weren’t being rushed, ignored or disregarded reviewed their experiences as more positive since they weren’t being forced out the door upon arrival. So if you don’t know who your customers are, be sure to tell your service team to spend just a little extra time helping them. Taking extra time to help clients and customers, however, doesn’t mean making small talk while helping them. Again, it means understanding their needs and helping find resolutions. Although the number of people you help throughout the day might drop, the quality won’t, and that’s a valuable thing to have in business. Besides, knowing your clients can also help you understand what types of marketing research you need to do in the future.

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Solicit Reasons for Leaving

If you don’t know why a client is taking their business elsewhere, it can be extremely difficult for you to increase future satisfaction, and if you offer an optional feedback response, most people will just skip it. If, however, you make it a requirement for clients to give you feedback on your product or service, you can then make adjustments to secure future business deals. With that said, don’t be afraid to turn mandatory responses into opportunities that your customer service team can cash in on.

In some cases, the right kind of follow-up can bring customers back since they know that you understand their needs and value their feedback. Communication, at this point, also goes a long way. Let the customer or client know that their feedback was taken seriously and that the team is working hard to make improvements.

In the end, client retention isn’t something you can just turn on and walk away from. It requires constant communication, monitoring, and change on an individual level. This means that every member who’s a part of your team also needs to work on their ability to retain customers. Once everyone feels comfortable enough managing clients, you can then strive for improvement in other areas. You should still, however, keep an eye on your retention rate.

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