Customers stray. It happens. Maybe you accidentally irritated them by providing bad service or a less than stellar product (everyone has a bad day or week). Hopefully, they are simply satisfied with the product or service they received and moved on. Maybe you get a good review. Others may show interest in a while, and then forget all about your company. Life is busy for most of us and only the most significant things in our lives receive attention.
When your customers interest fades, revenues decline which should become a significant issue in your world; so, you can either let them go or win them back. In the interest of sales, revenues and profits to keep your business afloat, I recommend winning them back using Inbound Marketing.
Retaining customers costs much less than acquiring new ones and helps to build the trust and respect between your company and clientele. “Depending on which study you believe, and what industry you’re in, acquiring a new customer is anywhere from five to 25 times more expensive than retaining an existing one.” Harvard Business Review, Amy Gallo, 10/29/2014 h
When you win a customer back you have truly created a relationship. So, winning them back is the key. Now let’s discuss how to use Inbound Marketing tactics to persuade those customers back to your business.
Remember Inbound Marketing is the process of sending your message out to your customer base at the beginning stages of the sale. In this process three things occur;
1) you attract new clients
2) you reinforce the experience with existing clients and
3) you give dissatisfied or alienated customers a reason to give you a second chance.
Your Inbound Marketing process should include and create strategies around the concept of client retention. Create mechanisms that rewards your customer and gives them reassurance that you are there and happy to help them succeed. This process helps to establish your market presence.
There are many methods to accomplish the task of customer retention but some of the tips below will send you in the right direction:
Providing loyalty rewards
This marketing tool is excellent for customer retention as it gives the customer currency they can only use when they transact business with you. Be careful not to give the store away by offering too much.
Create articles with content that is most relevant and beneficial for your customer - This option is great because it can be a sales promotion and information-based article all in one. It should include how to use the product and most importantly; how to use the service in different ways that they can leverage additional benefit from your company. It also provides double duty as sales training material for you sales force.
Providing a webinar just for customers will allow the opportunity for them to meet the staff behind the scenes. This forms a bond between your sales team and the customer that is long-lasting. Using new technology like Facebook Live, Skype, Zoom and Periscope, provides a behind the scenes opportunity to create customers that turn into long-lasting accounts. Here is also an opportunity to show you are a leader in your market by videotaping the instruction with your clients and sending that to a wider audience.
Competitions, Raffles, Event Sales
Automotive dealerships are famous for this method of Inbound Marketing. The idea is to host a party and attract customers to the party by offering an attractive and expensive prize. Often food, games, music and celebrity personalities are included. While signing people up to win the prize the sales staff can make themselves and their products known. Be sure to hold smaller events for a special VIP product promotion.
Each of the methods above employs little techniques designed to encourage the customer and give that little extra reward and thank you.
Online reviews are possibly the most beneficial or damaging thing that can happen to your company’s reputation. This is an aspect of Marketing that requires a course in and of itself. A good review on a public web page verifies to the world that you are respectable and worthy of business. A bad review says exactly the opposite. Whether the business is online or in a store it is imperative to know the online presence of your company.
Asking people for feedback and listening to it
Recognising people who leave reviews on your website, on social media, whether it's good or bad, is very important to your company’s reputation. When people visit your page, sending them a "Thank you" is an excellent way to provide recognition. Acknowledge them when they re-tweet your posts.
Every business strive to its maximum it customers relationship. How tall will a tree grow? As tall as it possibly can. Customers, on the other hand, have been given the opportunity to be choose. Why not stretch your business up to the full potential of the challenge and see what all you can do?
Just reach out now to invite a customer and see the impact for your business.
Originally published 27 February 2017, updated 5 June 2018