Don’t Forget to Follow Up!
The majority of businesses dedicate their time and marketing efforts to pulling in new customers. While it’s always a nice boost to your bottom line when a fresh convert hops aboard your brand’s bandwagon, it’s important to remember that there’s no client more valuable than an existing one.
Unfortunately, many small and mid-sized companies find following up post-sale challenging. Often times, they feel they lack the budget or manpower to effectively reach out to clients again and again — especially when they’re focused on wrangling new leads.
However, it’s worth dedicating resources to keep your clients coming back. For companies that don’t, the results can be dismal. In fact, BusinessBrief.com found that companies lose, on average, 14% of their customers annually. Not only does that loss directly impact profits, but it’s also a waste of all of the hard sales and marketing work that was put in on the front-end.
The good news is that keeping even a fraction of those clients around can be remarkably profitable. A study by Bain & Company reports that upping customer retention rates by just 5% can increase profits by 25%-95% — that’s a lot of reward for a little follow-up!
With so many social media channels, direct mail marketing options, and automated services at our fingertips, now is a great time to enhance your post-sales services. Here are six steps to following up effectively:
- Do it quickly. Don’t miss the honeymoon period following a sale.
- Be appreciative. Even if it’s just a small note on the invoice, be sure to thank your customers for their purchase.
- Ask questions. See if you need to make adjustments to your products or services to keep your customers coming back.
- Open the door to related products and services. Your customers may not return if they’re unaware of the full breadth of your offerings.
- Reward your customers, and they’ll reward you with their return purchases.
- Encourage referrals and reviews. Gather testimonials and use them.
Remember: A satisfied customer is a loyal customer, so it’s always worth your time to make them feel worthwhile.
If you need a solid resource to help you keep up with your customers, talk to your account manager about TDP Mobile Apps, which can help you boost customer engagement without consuming your time!