What’s Your Retention Strategy?

You made your first sale. Cool. Now what?

What most new business people fail to understand is that real money is not made on the first sale. Your goal on your first sale (besides making a sale) is to actually build a lasting relationship with your customer introducing them into your amazing world letting them know how you can help them even more.

Here are a few ideas to build customer loyalty:

1. Keep in touch on a regular basis

Sending a thank you card, an email, a text message or even making a short call after customers buy your product/s goes a long way. Let them know how you appreciate their business and ask them if they have questions about their recent purchase.

But don’t stop there. Let them know about what’s going on with your business and I mean what’s really going on. If you go out to the beach with your employees then make sure to take photos and show them how much fun you all had. If you’re involved in some kind of charity, tell them how it goes. And of course, if you have new products or services, give them a nudge.

2. Give away freebies regularly

It doesn’t have to be expensive ones. Send them a discount coupon when they make a purchase. This will surely keep you in their mind and encourage them to purchase more products from you. They can also give the coupon to their friends. Coupons on special holidays are also very effective. It tells them of your generosity especially if you hand it to them properly.

3. Solicit testimonials

Actively asking your customers for testimonials a week or so after they make a purchase makes them think more about you. When you ask them for testimonials, you are telling them that their opinion matters to you and that you are willing to share what they think about your product with the world. It makes them a part of your company.

4. Events and Webinars

Inviting your customers to company-hosted events breaks the internet barrier and turns everyone involved into real people. If you don’t have the budget to organize an event, try participating in events hosted by other companies and tell your customers about it.

A cheaper alternative to events are webinars. Hearing your voice and replying live to questions certainly brings people closer together. Be sure to share your webcam from time to time.

5. Shout out

If you happen to have a great customer (however you choose to define that), it’s always a good idea to give them a shout out. Send them a personal email, post a tweet or whatever. Let them know how you really appreciate them.

BOTTOM LINE IS:

Be as human and as social as possible in running your business and you’re sure to retain your customers and turn them into loyal and loving fans.

Do you have retention strategies that you wish to share? Please share it with us in the comments section below.

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