Learn how to improve your customer retention rates for your business.

For a small business, it can be difficult acquiring a new customer, let alone maintaining your current customer base.  Often times, we focus so much on bringing in new business that we forget about making sure that the clients we currently have are happy. Customer loyalty is the real key to increasing sales, and ultimately, improving the revenue and profits of your business.  The professionals at PL Consulting specialize in customer retention and growth.  Luckily, there are a few simple ways to retain customers at your business.

Focus On Case Studies

If you want to improve customer retention, then you need to show consumers how your product or service has helped others.  It will be difficult to sell a product or service in the first place if the prospective customer doesn’t see the benefits this product will bring to their business. Therefore, throughout the sales process  highlight case studies and customer testimonials; don’t just focus on features and benefits. Examples of people having been satisfied with your product or service, makes them more likely to come back.

Rewards and Incentives

When it comes to retaining customers, it is effective to reward those that are constantly spending money at your business.  You want to give rewards and incentives to those who are contributing the most to your revenue. There are countless software programs to track the spending habits of your customers.  Many retail stores offer programs for their customers to enroll and they can save money depending on how much money they spend at the store. Having a program like that will improve the chances of customers coming back to your business.

Customer Feedback

Before you can improve customer retention, you must know what exactly needs to be changed.  It is essential that you are getting customer feedback on a consistent basis regarding their experience at your place of business.  It is effective if you offer them a short survey to fill out after they make a purchase or better yet, even sitting down with your clients occasionally can do wonders for client retention.  If you know what to improve during the sales experience, you have a better chance of retaining customers.

PL Consulting Can Help You Plan Your Budget!

PL Consulting offers a diverse range of bookkeeping and other financial services. Each of our services is customized to fit the needs of our client and his or her business plan. Our team can help you with each step of your business from organization, to budget, to financial maintenance.  We are located in Pikesville at 119 Old Court Rd Baltimore, MD 21208. Contact us at 410.764.3731 or info@plcfo.com so that we can assist you with your bookkeeping needs. Remember to stay up to date with everything PL Consulting by following us on our social media platforms via Facebook, Twitter, and Google+.

Leave a Comment