People get jumpy during tough economic times and if you think customers are questioning every purchase decision (past, present and future), you are right on the money.
So what should you do to keep your existing customers from jumping ship and keep loyalty a win/win proposition? HINT: Don’t do NOTHING!
BE PROACTIVE. Don’t wait for your best customers to defect. If you assume anything, assume the worst. It’s well documented that 64% of customers leave existing suppliers because of a feeling of indifference. Be honest with yourself. Over the last few years of focusing on new business, have you taken your existing clientele for granted? Your first response will be, “No I hanen’t,” but look at the business relationship from their perspective. Think about your Top 10-20 customers and climb inside each one of their shoes. What is your answer now?
Let’s not complicate the issue any more than it already is. There are only three ways to communicate:
- In writing–Letters are far more revered than emails. Personally addressed and signed letters trumps the speed and convenience of email every time.
- By phone–This is a support medium. It’s best not to use the phone as your primary tool, but as an engaging follow-up mechanism.
- Person to person–The most appreciated form of communication. What you say is important, but the fact that you invested personal one-on-one time to say it makes this the most important and interactive communication of all. Often, this is not practical for all customers, but it’s always the most valued.
Use all three to communicate your resolve to serve them better and become more strategic in their operations. In doing so, you’ll find these communication events are effective triggers toward additional communication.
If you’re waiting for the big secret for getting into the heads and hearts of your customer, here it is:
- Communicate with sincere appreciation,
- Communicate with empathy–nurture versus sell,
- Communicate often.
Converting prospects into customers and customers into clients-for-life should be the battle cry of you company. For your clients, execute this business fundamental by implementing a communication workflow system that personalizes and automates the delivery of one-to-one communications–in writing, by phone and face-to-face meetings.
Be prudent, proactive and lead by innovating your way through this downturn. You can’t control the economy, but without increasing operating costs, we can control the volume and value of communications that keeps your customers loyal, your prospects engaged..
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