Thursday, December 4, 2014

How to maintain Customer Relationship

Knowledge Sharing:
1.  Successful companies know that a well-implemented, referenceable customer is vastly more valuable than the money from a single contract.
2.  Further, it's easier to keep a customer than to get one! We go to all the trouble and expense of acquiring a customer and then make little effort to maintain the customer. Unfortunately, dissatisfied customers don't complain; they just disappear!
3.  Most marketing departments take on the role of customer relations, since the relationship benefits the entire sales channel or channels as well as others in the company.
4.  The primary role of customer relations is to create and maintain customer profile information.
5.  Customer Relationship is one of the critical function in the business. Customer Relationship can grow your business or kill your business.
6.  Never underestimate the value and reach of a loyal, repeat customer. Keep customers coming back for more--and bringing their friends with them--with these smart tips.
7.  You develop relationships with people who don't just understand your particular expertise, product or service, but who are excited and buzzing about what you do. You stay connected with them and give them value, and they'll touch other people who can benefit your business.
8.  Relationships have a short shelf life. No matter how charming, enthusiastic or persuasive you are, no one will likely remember you from a business card or a one-time meeting. One of the biggest mistakes people make is that they come home from networking events and fail to follow up. Make the connection immediately. Send a "nice to meet you" e-mail or let these new contacts know you've added them to your newsletter list and then send them the latest copy. Immediately reinforce who you are, what you do and the connection you've made.
9.  E-mail marketing keeps relationships strong on a shoestring budget.
10.  Just remember: If you don't keep in touch with your customers, your competitors will.
11.  If real estate is all about location, location, location, then small business is all about relationships, relationships, relationships. Find them, nurture them, and watch your sales soar.
12.  Creating and nurturing a strong relationship with a customer is key to the ongoing success of a business. A strong customer relationship not only means that the client is likely to keep doing business with a provider over the long-term, it also means that the chances of that customer recommending the company and its products to others are greatly enhanced.
14. if the customer is operating under a false assumption or incomplete information, own the customer's perceptions and acknowledge that you understand what the client is conveying. Repeat the key points and ask if you have grasped the particulars properly. Then set a specific date and time to get back to the client with answers. This makes it possible for the client to feel that he or she has been heard and helps to set reasonable expectations for some type of resolution to take place.
15.  Attempts to earn trust by making commitments that cannot be kept will only hurt the customer relationship. As the client grows to trust your honesty and integrity, the relationship will deepen over the years, and be of great value to everyone concerned.
16.  Loyal customers are at the core of every business’ success—businesses have a 60 to 70% chance of selling to an existing customer, while the probability of selling to a new prospect is only 5 to 20 percent. Maintaining customer relationships is no easy task, but if done right, it can help set your company apart from your competitors.
17.  Listening to your customers is an easy way to maintain customer relationships. One way social media can help is by providing a space for businesses and customers to connect. By creating a company Twitter handle, Facebook page, and Instagram account, your company can help customers reach out if they have any concerns, issues, or feedback. Listening to them on these social networks will allow you to respond quickly.
18.  For example, if your customers are having issues with your product, provide an honest answer and don’t make promises you can’t keep. The worst thing you can do as a business is make false promises instead of an effective customer solution.
19.  For new start-ups, growing a community is the first step in marketing efforts, and that often includes building a community of brand ambassadors. At Hootsuite, we treasure our brand ambassadors, because without them we wouldn’t be where we are today. During our early years we spent our marketing efforts in growing a community, as opposed to investing in advertisements. Through engaging Hootups, Google Hangouts, and conversations on social media, we were able to grow our community of local social enthusiasts into a global community of brand ambassadors.
20.  Customer success is a pivotal focus point for businesses. If you provide support to your customers, they will, in turn, reward you with loyalty and valuable feedback.
21.  Just like maintaining friendships, in order to maintain customer relationships you need to keep in touch. For businesses this can come in the form of holiday cards, birthday greeting Tweets, or a quarterly email reminding your customers that you’re there for them if they need you. By keeping in touch with your customers, you’ll stay “top of mind”—this is key to making sure your customers don’t leave you for someone else, or forget about you altogether.

Tips:
1.  Build your network--it's your sales lifeline
2.  Communication is a contact sport, so do it early and often
3.  Reward loyal customers, and they'll reward you
4.  Reward loyal customers, and they'll reward you.
5.  Loyal customers are your best salespeople
6.  Listen to your customers
7.  Be genuine to your customers
8.  Create and engage with your brand ambassadors
9.  Put emphasis on customer success
10.  Keep in touch



Success Example:
In one case, a company had over 1000 customers yet only a few references. They hired a former telemarketer and gave her a telephone headset, a customer database, and an office with a door. She called the entire customer database every 90 days. She talked to both buyers of the product as well as the daily users of the product.

Who are the buyer contacts and user contacts?
What is their referenceability?
How well are they implemented?
What product features are they using?
After only 90 days, the company had an accurate customer database, providing a broad set of profiled customers for references. In addition, the company had the basis to understand which product features were used in production. Moreover, the company had a reference customer list for user success stories as well as references on-demand for sales.

References:
http://www.pragmaticmarketing.com/resources/Maintaining-Customer-Relationships




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