5 ways to Improve your client retention and decease cancellations.
1- Be Proactive – Stay involved with your client. Call before and after their installation. Conduct a quality assurance call to ensure that they are satisfied, do not just assume they are.
2- Periodic scheduled Follow Up – Stay in contact. Just because you have not heard from them, do not assume all is well. Create a plan and schedule to contact every client at a minimum of twice a year. This can be either a simple call and a direct mail piece. (Consider a Holiday or Birthday Card)
3- Monitor Activity – If you have an internal method that monitors and or tracks your client’s activity or usage, create a scheduled time to review the reports. This will enable you to determine whether or not they are utilizing your system or service, and quite possibly prevent a problem from continuing to occur.
4- Personal Interaction – Top 10, 20, 30 or more. Depending on your total account size, schedule time to personally reach out to your top accounts. If possible, once every 1-2 months and if possible disperse the responsibilities to your key staff members as well. Consider a combination of interactions, phone calls, personal scheduled visits, scheduled lunches, and hand written notes are great as well. In addition to retention, it is great opportunity to keep up any new products or services that you may be offering, along with helping to keep the competition from getting in
5- The Power of the Internet – Today 55% of business do not have a website, 38% that have one, are either outdated or not updated, only 1 out of 10 business are using social media to retain and create new business. Take a good look at your web presence. Try to review as a client or prospect. What are they seeing, how does it represent you? Then look at your competition. What are they doing? How do you stack up against them? Do you have a referral method in place? Do you have a way for a prospect to buy your product or services? Do you have a Blog? Is someone keeping up your social media presence? The key here is to accept that the power of the internet will have a tremendous impact on your future and business growth.
I hope you find these tips beneficial and useful. Just remember