5 Steps to Boosting your Customer Lifetime Retention Strategy

It used to be that that sales strategies focused heavily on consistently and aggressively seeking out new customers. Although building new customers can never be ignored, nurturing and  keeping the customers you already have can generate bigger returns. Customer retention and holding a customer over a lifetime gets more sales.

5 important tips for your customer lifetime retention strategy:


1. Build a Relationship

The sales process is about building a relationship, which means it is based on trust, not on closing a deal. Sales take more time, but repeat sales come faster when a relationship is built with the customer.

There are three main techniques which go a long way to build a relationship with a customer:

Honesty - Many customers respond to a company that offers transparency. Even if the customer makes a smaller purchase or buys with a competitor, be honest about the product. Be honest about what the future holds for the customer with your company, and be honest about the competition. Even if one sale goes to a competitor, the customer will remember the honesty and be more likely to come back in the future.

Sharing - Share tips and skills beyond the sale for free. For example, demonstrate the product or service for sale, teach the customer how to use it, and offer free advice and resources in the future.

Partnership - Offer a partnership with the customer, such as, "I can offer this and you can benefit me by offering this." Customers love a give-and-take relationship, because they feel they are getting as well as giving. If the customer has a business, find out how the businesses can be beneficial to each other.


2. Brand Loyalty

Yes, brand loyalty exists, and it must be created. The three parts of brand loyalty are high quality products, high quality services, and excellent customer service. Find a way to make all three of these happen to make customers loyal to your brand. Referrals, reviews and recommendations of your products to your customer's circle of friends and business associates are crucial in the modern marketplace.  According to research data,  85% of small businesses get their customers through word of mouth.


3. Cross-sell and Upsell

When products are bundled, the lifespan of the customer is increased. Consider fast food combinations for a moment. Many people do not walk out with burgers; rather, they walk out with a combination of food, simply because the bundle makes the offer a better price value. Offering a bundled product can also help your business sell above your wholesale price, increasing profits. Customers will return when it's convenient for them to purchase everything they need in one simple bundle rather than having to make many separate purchases.


4. Incentives and Rewards

Don't rely on constant discounts, it won't work. Instead, offer special services that come with the product or free gifts. Building up points toward a reward are also attractive; consider grocery stores who offer points toward gas stations as an example. Use incentives to maintain customers over a lifetime, but be careful. Evaluate what works efficiently within financial growth goals. You don't need to hurt your bottom line offering incentives.


5. Increase Customer Service through Touch Points

Using different means of customer communication and being responsive to customer service enquiries increases the chance of a customer coming back. This means being connected and approachable via phone, email, Internet and social media. Customers need to feel like they are an important and valued part of your business; giving them the ability to choose when and how to contact you boosts that feeling. Don't forget to ask your customers for feedback too. They are the ones that can provide significant feedback to benefit how you can evolve your business offerings for continued growth.

5 Communication Tips From The Pros

Communication is the first line of defense. It's not about talking - it's about effectively using words and listening to persuade others. The best leaders of the world were also excellent communicators; in fact, popularity in leadership is bred from effective communication. Whether the communication is happening one-on-one or with a crowd of supporters, many of the most persuasive leaders have followed a number of the following tips.

1. Personal Relations

Try using organizational conversations over corporate communications. Use a dialog in communications, not a monologue. The conversation cannot be one-sided, even during a speech presented to a group of individuals. Personalized conversations are much more effective, according to Forbes Magazine. Many of the most successful people are also accessible; they are willing to have a natural conversation with any one of their supporters.

2. Give, Don't Take

Focus on what will be given to the other person, not on what you will get out of the conversation. Whether in one-on-one conversations, or during speeches, the audience must take something away to become faithful to your cause. The most influential people throughout history have left podiums with audiences stunned into action. Consider what you will be giving away, and look past what you will receive, especially when you are trying to persuade a person or group to your ideas. If you receive something from the conversation, consider it a bonus.

3. Listen

This was mentioned before, but it's important to have its own point. Listen to the other person well; use different listening techniques. Active listening is the best way to give the other person the impression that you have truly heard what was said. Repeat points, and ask questions in response to statements. Again, this will help you provide information for the other party to take away from the conversation, and it will help you understand what information you must bring to the next conversation.

4. Use More Empathy

This practice can be difficult for those without a natural tendency for empathy, but it is important to gain the most insight into the other person's needs. Put the ego aside; use candor instead of inflated promises. When this technique is practiced, you can later follow through on your promises, and trust grows with those that support you. When an ego-inflated conversation ends, the other party expects results that cannot happen. Deflate the ego, use empathy to truly understand what your supports need, and use humility when making promises to those who support you.

5. Know Your Subject Matter

This may seem rather simple, but there are times when people talk about subject matter in which they are uneducated. Every successful leader has been well educated in their chosen topics; this is why political leaders have advisers. Make sure you are well educated on the topic in which you wish to sway your audience. When the audience begins asking questions, you want to be their source for answers. It also helps the audience trust that you know what you're doing. It is okay to ask for time to research any questions that are just too tough or unique enough to warrant more education. In fact, these questions allow for future communications, which helps gain trust and support.

Take these tips from the world's leaders in gaining support in everything from politics to sales. Whatever your reason for needing communication, using these tips from the pros will bring your communication skills closer to success.