Did you realise that the cost of acquiring a new customer can be five times more than retaining an existing one? If you’ve been in business for a while, you’ll no doubt understand how challenging and expensive acquiring new customers can be. Which makes it more important than ever to retain the ones you have.
The importance of customer relationships has recently become a hot topic of conversation because of the major impact it can have on your bottom line. Especially in the tech space where customers often require additional support and guidance for products.
Below are six of the most effective ways to establish and maintain strong long-term relationships with your customers.
- Engage with your customers
Frequently engaging with customers is one of the best ways to quickly establish and maintain a long-term relationship. Communicating with existing customers across a variety of channels such as emails, social media, telephone and messages (as appropriate to your business), shows that you care about more than just selling them a product. Putting effort in after the sale can have a major impact on customer retention and ultimately your bottom line.
- Actually meet your customers face-to-face
In today’s digital world, it is now common to never meet your clients face-to-face. Although this trend saves time and effort, and is usually more convenient for both parties, nothing can replace a face-to-face interaction. Taking the time to meet your client face-to-face, especially in the formative stages of your relationship, will create a strong foundation for your relationship and be a more personal experience. This doesn’t always have to be in-person either, software such as Skype and Zoom make it possible to meet your clients face-to-face over the internet if meeting physically in-person is not possible. This blog provides a great list of the main benefits associated with face-to-face client meetings.
- Establish yourself as a trusted advisor
Showing a genuine interest in your client’s business is an excellent way to build a strong relationship. Communicating with them about their business goals, strategies and plans will not only position you as an expert in the field, but also open up conversation that could lead to further business opportunities. By establishing yourself as a trusted advisor, your clients will look to you for business advice and you will become a valuable resource to them, not just a supplier.
- Make them feel special
Celebrating business milestones, loyalty and special occasions can dramatically improve your customer retention and relationships. Acknowledging the important dates and achievements of your clients will help you to establish and strengthen long term relationships because you are showing that you care about what is important to them. Your relationship will become more unique and personal rather than generic and transactional.
- Be highly responsive, even to the smallest requests
Communication is the key to any strong relationship and customer relationships are no exception. There is nothing worse than sending an urgent inquiry or request and waiting days or weeks for a response. By improving your responsiveness you can show your customers that they can rely on you and that you will be there for them when they need you. This will help you to build trust with your customers and provide a strong foundation for your relationship.
- Provide additional value
An inbound or content marketing strategy is one of the most effective ways to maintain long-term customer relationships. Providing interesting, relevant and engaging content for your clients is an excellent way to demonstrate your commitment to their success. By showing clients that you want to help their business grow and develop, rather than just sell them your products, you are nurturing and strengthening your long term relationship.
To learn more about how to implement a cost-effective inbound marketing strategy to build stronger relationships with your clients, check out this helpful article.