Welcome to customer-retention.co.uk
Welcome to customer-retention.co.uk – your essential guide to retaining the most important part of your business: your customer. Check out various sections of this website to:
- Know what is Customer Retention?
- Advantages of Customer Retention
- Customer Retention Strategies
- Tips to find a customer retention consultant
What is Customer Retention?
Haven’t we all heard the now-clichéd quote – “Customer is the king?” Not only is this true for all service oriented businesses, but also increasingly relevant for all types of businesses like manufacturing, product based businesses etc. Never has been the customer more relevant to an organisation’s success than today’s essentially buyer focused markets.
It, therefore, makes immense business sense to keep your customers from choosing other providers (your competitors) over you. Not only does this ensure you the advantages of repeat business, but also creates a comfort zone for the customer, where they can predict the quality of products and / or services they’ll receive from you. It thus pays to manage and effectively retain satisfied customers. Customer retention is a series of activities and/or strategies aimed at keeping customers from defecting to your competitors.
Advantages of customer retention
Following are some of the advantages of following a well defined customer retention strategy:
- Possibility of repeat business
- Reduced costs for customer acquisition
- Fostering greater interaction between business and customer
- Having more delighted customers
We’ll look at these in more detail in the next section.
Customer Retention Strategies
Customer retention is not something that can be done on an ad-hoc basis. Retaining a customer requires a carefully thought out strategy depending on your customers and their individual requirements. While having an organisation – wide retention strategy is necessary, it has to be flexible enough to accommodate the individual requirements of your customers. This will lead to a more customised product and create better chances for you to move from customer satisfaction to customer delight. More about effective customer retention strategies in this section.