Keeping customers and clients coming back is quite important in the business world. Those who have a consistent client based that grows year after year turns a company into a juggernaut in their industry. While many companies have a mix of different sized clients, others have just a few clients so losing one of them would cripple their business. This makes client retention for some businesses the most important thing they can do; the following are a few things that can be done to retain clients.
Showing appreciation by sending clients gifts on a birthday or during the holidays is important. If a large company spends millions of dollars a year, the least a company can do is send their point of contact a holiday gift. These gifts do not have to be expensive and something like baked goods could win the hearts of some important people in a client’s office. Baked goods like Cheryl’s provides are delicious and now Groupon has coupons for them on their website to make them even more affordable. Win some more supporters in a huge client’s office.
Providing a reduced rate for a client to who has been around for years is something that happens frequently in business. The client already knows the quality of service or product that a company offers, the reduced rate will just keep them from shopping around. It is much easier to stay with an affordable company that delivers consistently than to take a risk with a cheaper company that could be unreliable. This balance between quality and price will keep a client resigning contract after contract.
Developing personal relationships with the point of contact at a company is important. Humanizing the company that a client gives its business to can help build loyalty because building no rapport with a business can lead to them looking elsewhere to fulfill their needs. There are billions of dollars a year done with companies just because a few people have developed a personal relationship that stemmed from a business relationship.
Retaining clients can help a business consistently exceed expectations year after year. Aiming for as high of a client retention rate as possible can cause a business to grow but make sure to not sacrifice quality for quantity, as this could lead to clients no resigning contracts.