Relationships with clients are something worth investing in. Getting a new customer is 5 to 7 times more expensive than maintaining the loyalty of a regular customer. What does it mean? That a loyal customer is a value in itself. Is the finalization of a single transaction a success? Only building a long-term relationship with the client translates into greater profits. But how to do it? How to sell more to a single customer and, as a result, increase the CLV ratio? Learn seven simple tips. Start using them and your customer relationships will take you to the next level.
Good customer relationships are one of the most effective strategies a company can adopt. The effort put into building them is an investment with an amazing, guaranteed return. It consists of the sum of all interactions and experiences the company has with its customers - both online and in person. And it does not matter who plays what role in it. Because every action taken by everyone in the company affects customer relationships. By weakening them or enhancing them positively. Even if you define it well target audience it won't do much without building a relationship. Customers know what they want, and if they don't get it, they choose the competition. That is why it is worth taking care of the customer once won.
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Customer relations and the CLV ratio
The CLV indicator is an acronym for the English term Customer Lifetime Value. In Polish, it means the sum of revenues that the client will generate for the company throughout the duration of the relationship. Why is this indicator important? It allows you to calculate whether the costs associated with acquiring a client do not exceed the profits that can be obtained from the finalized transaction. Companies that base their actions on data about their own clients win. They positively affect the CLV, getting even fr 15-20% greater return on investment. The conclusion is simple. What works is close relationships with customers. Based on listening to your needs and offering solutions that meet your expectations. All of this is cheaper than acquiring new customers. explains Bartosz Zieliński Managing Director at the PR Commplace agency. Result? - Today's audience can choose your services more often. At the same time, they will be less susceptible to what the competition offers. Ultimately, they will also be less sensitive to price changes. - adds the expert.
How to take care of customer relations - examples
Good customer relationships should develop over time. This happens if the interactions between consumers and business are mutually beneficial. Are they like that for you? To find out, answer the following questions.
1. What are you doing to save your customer's time?
Nobody likes standing in line. Especially in the era of digitization, the era of providing fast and advanced solutions. Therefore, if you are concerned with customer relationships, you must not let them wait for hours for a response. Use an appropriate strategy to minimize the risk. If you have a hot period in your company, estimate the waiting time. Ready-made answers are also a good solution, which are useful in the case of frequently asked questions.
2. Are your relationships with customers based on an individual approach?
Quality products are no longer the only factor that contributes to high customer satisfaction. So how do you make customers feel valued and special? Don't treat them as tasks that need to be closed by the end of the day. Look at them individually. Refer to them by name. Studies show that humans experience increased brain activity when they hear their names.
3. Do you exude good energy, does it depend on the day?
Remember that relationships with customers are built by helping people. So don't let a bad mood determine your results. In order not to give in to it, use a strategy based on two actions. First, use positive language. Try to use affirmative words and empathetic statements. This will create a positive environment for your communication with the client. Second - smile. Smiling is scientifically proven to release endorphins. Thanks to them, we feel happy and motivated enough to provide excellent service every type of client.
4. Do you make real promises to your clients?
How would you feel if an employee of some company promised to call you back with a solution within the next 20 minutes, but didn't? Would you feel cheated, frustrated and disappointed? Therefore, do not make any promises yourself that you cannot keep. Customer relationships based on honesty and clear communication will make you become a reliable business partner.
5. Do you show recognition to customers?
Did you know that returning customers spend more than new customers? This means that targeting special customer loyalty programs can encourage repeat purchases. Their choice depends on the type of user involvement. These can be, for example, gift cards, birthday cards or a point program, which consists in exchanging points for prizes.
6. How do you deal with negative opinions?
Contrary to appearances, negative opinions can be very useful. A negative opinion gives valuable insight into the company's management system. It allows you to introduce improvements that will translate into better relationships with customers in the future. So collect opinions. Even the negative ones. Be able to admit your mistakes and turn failure into success.
7. Are you looking for contact with customers?
If you want to build and maintain customer relationships, don't expect it to do itself. You are responsible for looking for constant contact with the customer - before, during and after the sale process. What can you do to take better care of your customers and strengthen mutual relationships? Invite them to follow your company's blog, share your posts on social media platforms, send personalized emails, etc.
Remember that you do a lot when building relationships with customers. You increase your competitive advantage. You reduce your marketing and advertising costs. You open up to new possibilities.