One of the benefits to implementing a well-structured and strategic customer retention program is that you can take any sticky situation (a customer is threatening to cancel, for example), and turn it into a valuable situation where your customer regains trust, loves you again and actually starts referring new business to you.
A study by the White House Office of Consumer Affair tells us that statistically, an unhappy customer tells between 9 and 15 people about their poor experience. The same study found that customers who get their issue resolved tell roughly four to six people about a positive experience.
Getting it right isn’t rocket science. But first you’ll need to identify your “at - risk” customers.
Customers that may want to cancel their orders or membership with you, will certainly have their reasons and likely would feel the benefit of airing their concerns or reasons as to why. This will always be part of the healing process between you both and accepting where you may have failed your customers is the most important part of starting to apologise.
Remember, that your customer is the best form of feedback so regardless the outcome, the information they provide may end up being useful in the long term to avoid losing more customers in future.
Once you have identified the problem, it’s time to come up with a solution to reassure your customer that this won’t happen again. Remember that you are doing all of this because it shows your customer that you care. You care about their business and you want to win it back. You want to keep them as a customer and you are doing everything in your means to make sure these problems stop occurring. Customers love this extra personal attention - it goes a long way toward rebuilding customer satisfaction and leads to strong customer loyalty if completed well.
The key here is to show that you really care, show that you understand how important a high quality of service is to you and that, moving forward, you’re personally going to do everything in your means to make sure the level of service exceeds their expectations.
Most the time, your customer is happy to give you one more chance. So if they do, it’s time to deliver. No more excuses… this is your final chance.
A customer retention program involves implementing on-going initiatives that are geared toward earning back trust, building customer loyalty and encouraging the customer to become a brand ambassador who refers new business.
This could include resetting the customer’s expectations, proving you are the expert and going above and beyond in your service. Ideally, all businesses really want is to turn their customers into raving advocates and the little things really do go a long way to building this healthy customer relationship.
Customer advocates form the cornerstone of any business. They are talking billboards that spread positive word of mouth and send you qualified, hot referrals.
So remember, execution is key. A well-executed customer retention program can turn your unhappy customers into loyal, raving advocates.
Implement yours today.
Need a handle on getting it implemented? Contact us for some extra assistance.