Five Steps to Prevent Customer Attrition
Time, money, and numerous company resources are spent on generating new customers. Don’t let those efforts go to waste – prevent customer attrition with these five simple steps!
- Identify your ideal lifelong client and what it would take to keep them happy. Is your ideal client focused solely on price? If so, you’d better be the cheapest among your competitors. Maybe your lifelong client holds superior products as their highest priority. In that case, your alarm business must offer and market the latest and greatest alarm products to its customers.
- Set expectations, then exceed them. This does not mean setting low expectations – who is going to buy from an alarm company that promises to be mediocre? Guarantee things like an installation timeframe, service response time, and product capability. Then work with members of your team to make sure these promises are fulfilled, and call the customer directly to make sure they are happy.
- Consistently provide value. This could be in the form of insightful company blog posts that are personally sent to a customer, delivering emailed newsletters that contain timely information, and updating them on the newest products and services that your customer would personally benefit from. If your alarm company is producing eBooks and offering webinars, these are things that add value and indicates your current customers need to know about it, too!
- Develop customer loyalty. Ross Beard’s blog article offers three tips for building a strong relationship with your customer. In essence, make sure to appropriately communicate with your customers (on a business and personal level) about key developments about your company or products.
- Survey your customers. How can you know if they are happy/unhappy with your services if you never ask? Create a brief online survey that allow your customers to evaluate your company and provide crucial feedback. By listening and incorporating their recommendations, you’ll create a customer experience and positive reputation that can take your business to new heights.
By following these five steps to reduce your attrition rate, you can ensure your new customer growth rate will exceed your attrition rate.