The Danger of Complacent Customers
Are you truly satisfied with the service you’re receiving? Or have you settled for the mediocrity that many long-term service providers offer once they’re done trying to impress?
As customers, we often stay put because of convenience. It would be a hassle to switch banks or find a new dentist, even if we’re not having such a great experience when we interact with these businesses.
Businesses spend a lot of time and effort trying to attract new customers. They may win us over with a great introductory deal or impressive service when trying to get our business. But are they putting as much focus on keeping existing customers happy and loyal?
Once you win a customer’s business, the work is far from over! That customer you just acquired is much more valuable to your business than the sea of strangers that remain in the marketplace. According to a study by Gartner Group, 80% of your company’s future business will come from just 20% of your existing customers.
Building relationships with these existing customers can lead to brand loyalty, trust, and referrals — all valuable ways to strengthen your business with little cost required.
Here are some ideas to focus on building strong and long-lasting relationships with those customers who have already done you the great honor of giving you their business.
Thank your customers! Without them, your company likely wouldn’t be in business. Take the time to reach out and thank them for choosing you. A personalized email or card can go a long way in showing your gratitude. You can thank them for an order or for a referral, or just for their loyalty to your company.
Ask for their feedback — and listen when they give it. We all know what it’s like to continue doing business with a company even when we’re not getting the best experience. But what if those companies took the time to ask how you’re doing? Solicit feedback directly from your customers before they take to social media to make any complaints.
Keep communication open. Depending on the industry you’re in, your customers may only need to do business with you every once in a while — but that shouldn’t stop you from staying in touch. Send out a newsletter, offer a coupon, or just wish them a happy birthday or anniversary! These simple gestures let customers know you’re thinking of them and can start a dialogue at any time.
Find ways to go above and beyond. It’s easy to continue providing the service that customers expect, but that’s not likely to wow them over time. Paying attention to what customers like and doing something unexpected for them, no matter how big or little, can leave a lasting impression.
You’re not the only business in town. If you are not building strong relationships, it can be easy for a competitor to swoop in and wow them. Treat your customers how you’d like to be treated to keep them coming back to you.