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Jun

05

2018

Is it CrushLove or Customer Retention? How Autocorrect Got Me Thinking

Inbound Marketing

Sometimes autocorrect can be foreshadowing. My friend’s phone accidentally spelled CrushLove instead of Customer Service. It got me thinking about crushes, love and customer retention. (And what the heck is up with autocorrect?)

Just like crushes that turn into mutual affection, customer relationships, cultivated properly, lead to loyal customers — one of the best types of relationship you can have.

82% of small business owners have said their main source of new business is referrals - Constant Contact

Let’s talk about the importance of retaining existing customers.

What do you do to let your customer know you have a crush on them? The answer: they know you have a crush on them when you pay attention to them. While gaining new clients is important for growth, a significant percentage of revenue comes from existing customers.

According to a study done by Luxury Institute, on how first-time shoppers become long-term clients, "Successful relationship building produces highly-desirable results: repeat customers have a 60-70% chance of making another purchase on a future visit, and prospective clients have a 54% chance of buying after a second visit." The key takeaway here is that you have a better chance of making a sale if they already know you. Don’t put all your eggs in the acquisition-of-clients basket.

So if limiting attention and effort to new customers is a mistake, then what do you do?

Crushlove. Let’s count the ways. Here are four ways to make customers fall in love and stay in love with you and your business:

Find the best solution for the problem at hand 

Even your best intentions can’t prevent customer problems. Listen first, then find a solution. Sometimes that solution might be a robust way for customers to find answers themselves. For example, creating multiple channels for customers to gain access to common questions and answers like informational videos or blog posts. Other times, problem-solving requires an actual person listening to an actual problem and coming up with a solution. Whatever you do, the key to finding a solution is making sure your Client Success Manager, knows how to listen and act. Solving problems proactively not only shows that you’re paying attention, but it also shows that you’re taking action.

Get feedback

Getting feedback after an interaction or event will help you to better serve your customers in the future. Feedback comes in many forms, including surveys and online forums. 94% buyers do some sort of online research while 75% of those read either user reviews or review websites. Wouldn’t it be useful to be able to do something about negative feedback before you see it online?

Ensure your customer has a good experience

McKinsey reports,"70% of buying experiences are based on how the customer feels they are being treated." Customer service is part of the bigger picture of customer experience. Take a holistic approach to a customer’s journey, after all, they are using your product or service regularly. A good experience will produce a loyal customer.

Tell your story

Let your customers know why you’re doing what you’re doing. These days, it’s not enough to offer a service or product. People connect with companies that stand for something. People want to feel personally connected to companies they buy from. Sharing your story will not only facilitate that relationship, it will also help people remember you.

In the long run, crushlove your customers and they’ll crushlove you back.

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