Looking to Make More Money? Retain to Gain!
Jennifer Murphy, March 24, 2016
As the Customer Service Manager, my main focus at WebiMax is to ensure our clients are completely satisfied with their marketing campaigns. We place an extreme focus on retention and believe it’s the lifeblood of growth for any business. That’s why I was excited to write this blog and provide tips to help your company improve its overall client retention rate.
The first part in any retention strategy is identifying the factors that are impacting retention rate and then addressing how you can manage them. The first factor to examine is client expectations. Promising the world may be a great sales tactic, but it will cripple your retention rates. Consumers are smart and should be treated like smart people! Place honesty and transparency above all else in your onboarding process. Your clients will respect you more for it. Also, in the onboarding process, it’s imperative to have strong communication with your client and truly get a feel for their business and their needs. Other factors to consider are the budget restraints of your clients, their internal structure, and a company getting acquired or having major branding changes.
With all of the factors I mentioned that can impact retention rates, common overall practices can remedy the issues. Anyone designing a website knows that they should view the page through the eyes of the user to ensure top quality. The same can be said for any business. The more you put yourselves in the shoes of your customer, the better off your customer service and retention rates will be. Courtesy is a great place to start, but it’s just the tip of the iceberg. Every business should invest in the continuing education of their employees. In our case, it’s imperative to stay informed on the latest trends in the industry. Nothing hurts a relationship more than not knowing the answer to a question, especially when you can’t find a resource in-house who can answer for you. Train your employees and their knowledge will help you better your internal services and raise your retention rates.
Now that we have identified the basics, we can look at some next level retention building techniques. Employees who use a scoring system to track the health of their relationship with their client can be a huge asset. Upper management can look into these scores and provide assistance before a relationship becomes strained. Also, when a client relationship turns sour, it’s important to have documentation with reasons. The only way to fix a weakness is to identify the issue and remedy it. Never letting the same problem haunt you twice will boost your retention rate in no time. I also may be bias but a full time Customer Service Manager can make a world of difference. It’s truly comforting for your employees to understand that when they have a question or sense a business relationship could be going better, they can count on a certain individual to provide guidance rooted in experience.
Have any questions? Don’t hesitate to leave a comment below or contact firstname.lastname@example.org.