Client Retention Strategies for Your Small Business

Strategies to improve client retention for your business.

New customer acquisition can be costly. Often, your most profitable clients are those you retain and those you attract through word of mouth from existing clients. In this article, CRM expert Taylor Dru breaks down some ways to improve customer and client retention, as well as how to best secure referrals from current clients.

It’s time to stop putting all your energy into attracting new clients. That is only half of the battle. You also need to devote time and effort to your clients once you get them in the door. Neglecting the clients in your pipeline by not investing in your client management is leaving money on the table, and lots of it.

Take a little journey with me. Let’s say a local amusement park just rebranded and opened up to the public last weekend. You’ve never been before, but keep seeing the commercials, emails, and social media ads, so you thought you’d give it a try. As you walk from the parking lot to the entrance of the amusement park, you get more and more excited. Yet, once you’re inside of the amusement park you notice that the rides are super old, there’s only one refreshment stand with limited offerings, and none of the attendees want to be there. That’s when you decide that this will be your first and last time there.

Building a high-ticket client experience will help you increase your revenue, as well as save you time and effort in marketing and selling to clients that probably haven’t heard about you before.

In our example, that amusement park spent a large budget on marketing and advertisements for you to get in the door, but they did not have the internal operations and experience to keep you in it. Now, think about this for your business. When you focus on your internal operations to elevate your client experience, your clients will:

  • Always consider coming back to work with you
  • Provide great feedback for you to use for social proof
  • Tell their business besties about you
  • Add you to their referral directory

It’s time to stop underestimating your current clients and their leverage. Building a high-ticket client experience will help you increase your revenue, as well as save you time and effort in marketing and selling to clients that probably haven’t heard about you before.

Prioritize these 3 things to leverage referrals for your business:

  1. Build authentic relationships with each of your clients.
    A quick and easy way to do this is to add their names into your emails and forms. Also, look for other opportunities to make things personalized for them. Most important, while you’re interacting with them, get to know them on a personal level!

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  3. Have a clear and clean process.
    Always provide straightforward directions on expectations and needs that you will have while working with them. Also be sure to acknowledge when something is completed, such as a payment or form, so they know you have everything you need thus far. Last, do not confuse them, and definitely do not ghost them.

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  5. Add incentives for them.
    You can position your referrals as being a part of a greater community within your business. You can add them to a directory or network of people you refer to others. Also, money talks. You can always add in a cash or gift card bonus for any referrals.

Don’t be like that amusement park; make sure you take care of your people once they're inside your process. Add these tips to your client process today, so your clients will rave about you to their business buddies. Let your client experience speak for you.

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