My cousin (top real estate salesman in his respective market) and I (respected advertising consultant) were having a conversation the other day about our businesses. In this conversation we discussed the importance of customer retention. I shared with my cousin that I have client’s that I have worked with for over 10 years, which is when I started my advertising career. He explained that he has client’s that he has been working with for over 15 years in real estate. After hanging up the phone with my cousin, I realized that my client’s needed to focus on customer retention first and bringing in new business second.
My top 5 customer retention strategies when using best business practices and advertising methods to retain customers:
1. Know your customer’s needs: I wrote an article on this subject a few weeks ago. Know everything you can possibly know about your customer’s personal life as well as their business life. CARE ABOUT YOUR CUSTOMER and their NEEDS. You can’t advertise properly without this information.
2. Develop A Brand: A brand is more than just an image, its a meaning. A brand is how consumers feel when they do business with you. A brand is what people think of when they do business with you. A brand is what your company stands for.
3.. Credibility: Make sure that whatever service or product you provide is a great service or product. If you provide a great service or product, your customers will continue to utilize that service or product.
4. Availability: Make sure you are available to help your customer’s with their business needs. When your customers need something and you are not there to provide that product or service, the chance of that customer going somewhere else can be greatly increased.
5. Keep your customers informed with advertising: Out of sight, out of mind. Utilize mass media advertising to stay in touch with your customers and to attract new ones. Yee-Haw Media specializes in customer retention methods utilizing some of the above strategy, along with the proper advertising channels to stay in touch with the “RIGHT” consumers.