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What really are your chances of success?
Maximise client engagement: Retention, Referrals and Cross Sales
Done correctly two things happen:
Happy clients become even happier, more loyal, buy more and pass on more referrals*
Thank clients for giving feedback
* In this format referrals are untargeted and they are not scalable;
Unhappy clients become less unhappy, feel their issues are being addressed and retention improves.
Discuss with disaffected clients
Be aware! It’s essential to manage client expectations. If an ‘issue’ is reported it needs to be dealt with.
There is an instant, measurable value from improved retention, however it is impossible to definitively say that a client who might have moved on has been retained… the true picture is established over time by comparing ‘before’ versus ‘after’ ‘Attrition/Retention’ statistics.
The value of ‘Referrals’ and ‘cross sales’ can be measured and quantified immediately.
Simply having happy clients will not add value to your business in itself. Engaging in an appropriate manner with happy clients and ‘asking,’ results in a significant increase in immediate, medium and long term referral rates. It also maximises the chances of selling more to existing clients than would otherwise have been the case.
Maximising your client engagement requires ongoing nurturing and effective ongoing communications, something most businesses struggle with due to a lack of meaningful ‘content’ and in many cases appropriate tools and processes to actually get the right message(s) to the right audience(s).