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The 6 Rules of Maximizing Customer Retention
The 6 Rules of Maximizing Customer Retention
We all know that there are many things you can do when it comes to customer retention. Follow-up calls, sending out service reminder notices, ongoing advertising campaigns that keep your name at the top of the customer’s mind, and scheduling the next visit at the time of car delivery are just a few. Yet there are some timeless rules that are often forgotten. During these tough, competitive times you need to be mindful of the 6 most important rules when it comes to customer retention.
Rule #1. Create a principle-centered culture. All great companies realize that getting to the top, and staying at the top, is dependent on having a culture that is based on principles. You need to ensure that you have a clearly defined Mission Statement, you need to share it with all of your employees, and you need to constantly keep it at the forefront of their minds. For example, a Mission Statement could read, “It is the mission of Elite Auto Service to deliver extraordinary service to our customers and opportunity to our employees, while never compromising our ethics or our responsibility to society.”
Rule #2. Offer and deliver a good value. I am not suggesting that you be the lowest priced, or the highest priced in your community, but you need to deliver a good value in return for the money you charge. Companies that charge more than they should just because they can typically discover that their profits will go up in the short term, but that they lose their customer base at the same time. Great companies are competitive, not greedy, and that is why they become, and remain, great companies.
Rule #3. Hire the Superstars. The success of your company, and your ability to retain customers over the years, will be dependent on the people that work with you. Just being good is no longer good enough, so you need to have employees that truly are superstars. Whenever someone buys a product, they will always remember the product, but whenever they buy a service, they will always remember the people providing the service. Simply put, your customers’ impression of your business will only be as positive as their impression of the people that work with you.
Rule #4. Provide consistency in the experience. Great companies such as McDonald’s, Starbucks and Nordstrom all understand the importance of consistency in service. With any of these companies, before you step into their stores you already have an expectation of what the experience will be like. The top shops understand this rule, which is why they have clearly defined procedures for everything they do, from handling the first-time caller, through car delivery. When customers feel there is no consistency in service, they will typically look for an alternative service provider.
Rule #5. Deliver on your promises. If you want your customers to continue to return, then make sure that all of your employees choose their words carefully when they are making a commitment to your customers, and then ensure they move the earth to deliver on those promises.
Rule #6. Never put money ahead of people. All world-class business owners understand that money is the result of doing the right things for the right reasons. When you embrace this rule you will also discover why the world-class businesses will never take their customers for granted. They understand that it’s the trust their customers have in them and their people that is priceless, not their credit cards.
There are a number of things you can do to improve your customer retention, but the one promise I can make you is this: These 6 rules are timeless ones, and if you apply them to your business, you will not only see more repeat customers, but you will be building a business that will last for generations to come.
This article was written by Elite president Bob Cooper. For more information about Elite, to visit their website at http://www.EliteWorldwide.com
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2 Replies
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Very, Very Helpful. thank you for the post Bob.
Regards, -
Great post.
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