Customer Retention

No matter how good your product is, some other product always outnumbers it. This is because they develop different characteristics to attract the customers. What does a customer want? Quality product that fits his budget. And more and more companies are opting to satisfy customer needs just like they demand.

So how does one stand out amongst the crowd of 1000s? The number one criterion is to deliver exactly what you guarantee. For example there are companies who vouch for service within a time period but fail to follow it. You should never commit when you know you’re not capable of. A company which doesn’t keep its word cannot be favored.

It is also vital to take feedback. Even if you do not satisfy your customer, if they comprehend that you are concerned, it helps in developing a good rapport and also helps you rectify the mistakes. The feedbacks could be vague and demanding so not everything that your customer says can be appeased with.

Just because other companies have decreased their rates drastically, you should not take the same step if it is not feasible. Everybody wants to win the race in this competitive world. But when you compromise on the rates, you would have to compromise on the quality and quality is something that the customer will not compromise with.

Another means to ensure customer retention is by giving offers to the ones who have been loyal to you since aeon. Why would your customer switch to another brand when he gets special offers via your company?

A feeling of belonging envelopes when you remember each of your customers. Birthday cards, anniversary flowers are some of the new techniques that companies use to develop a good bond with their employees. A particular client may appreciate you wishing them on their personal no. but some may feel it is interference Depending on the nature of your client, approach them discreetly.

You may not have the answer, but you will find it. You may not have the time but you will make it, you may not be the biggest but will be the most committed- should be your objective.

"Human Resource- A Magazine for the Discerning Professional

www.humanresource.net.in