Retain Your Clients when Competition Gets Tough
All businesses face some sort of competition, the testament to a GREAT business is one that ultimately keeps clients coming back.
With the use of social media and review sites like Yelp!, public opinion can spread like a wildfire and can make or break the success of a business. Businesses of all types face the brutal honesty (and often times from just 1 bad experience) of both their customers and employees (Glassdoor.com).
Here are FOUR actions businesses can do TODAY to keep their clients coming back:
1. Know Your Edge.
Every product/company has a competitive edge, what separates you from everything or everyone else? Discover what that is, make it a story (aka: your WHY) and share your story with your customers!
2. People buy first from people they like.
Very rarely is the price the deciding factor. However, if your price is too high and does not equal value, either add value or reduce the price.
3. Honor loyalty.
Loyal clients are happy clients. For most companies, it’s easier to get repeat business than it is to get new business. Make sure they know you appreciate them. Something simple like a handwritten thank you note, or a follow-up call, goes a long way in making a lasting impression.
4. Always ask for referrals.
90% of consumers trust recommendations from people they know [Nielson].
THE RESULT:
when a customer has had a great experience – they will be loyal, and often times tell their colleagues/ friends/ family about their positive experience and YOU!
