Acquiring new customers doesn’t come cheap. The best way to minimize this cost is to turn new acquisitions into long-term customers. The longer you retain a paying customer the greater your ROI (return on investment). Get more bang for your marketing buck by learning to keep your customers longer.
Like financial investments, each Employer will offer you different potential rates of return. Some Employers may only have the budget for one small project right now. Those Employers should not be discounted because someday their needs and budgets may change. They are your long-term investment.
Other Employers with huge discretionary budgets might only be taking the outsourcing option out for a test drive or might have a regular in-house person who just can’t do this one little project. By getting to know your Employers, you will learn what you can ultimately earn from them. Start maximizing your potential today!
Tips to maximize earnings:
- Establish yourself as a resource for life
By positioning yourself as a provider of services, someone who can solve customer problems instead of someone who just wants to sell a specific item, you instill a sense of trust and confidence in buyers. Provide excellence and be dependable and customers will continue to return to you for their business needs.
- Make it personal
Providing those personal touches, such as following up, asking for and considering feedback, remembering certain likes or dislikes of your customers, sending birthday discounts, holiday cards, etc. makes customers feel connected with you and your business.
- Don’t be shy, let them know what you can do
If you have just completed a logo project for an Employer, why not suggest a brochure? Letting Employers know the scope of services you offer cues them into what else you can do for them and may even help them identify additional needs.
- Reward customers for long-term commitment
Creating a loyalty program that rewards customers for long-term repeat business makes customers feel appreciated and reminds them to return to you when they need more work done.
Having a customer retention strategy is key to securing long-term success and gaining a greater competitive edge. Customers have endless options and unless you plan to keep them they can simply go someplace else. What is your strategy for turning one time customers into lifelong sources of revenue?