With the new year right around the corner, you’re bound to have big plans for your business.
But success won’t happen overnight, and you need to make sure you have the basics right.
Your clients make your business and ultimately, without their custom, your business’ growth plans will fall short.
Regardless of your business’ aim, you must ensure your business meets the needs and wants of current and potential clients.
If you don’t know what your clients want, someone else will.
With Bain & Company finding that just a five per cent increase in client retention led to a 25 per cent increase in profits, creating a loyal client base is a tactic you need to consider.
Read our tips on how to keep your clients happy:
Employees
Ultimately, your clients will not be happy with a sub-par service and your staff make a huge difference to the client journey.
Ensuring your employees have adequate training is essential for building and maintaining positive client relationships.
Another key factor is employee retention.
If your staff are constantly changing, clients will feel that your business lacks consistency and may go elsewhere.
To combat this, consider what you offer your staff to encourage them to stay with the business.
Sustain a healthy client base
Keeping your clients happy will promote their loyalty and increase the chances of them promoting your business to other people.
Social proof and word-of-mouth remain one of the most effective ways of winning new clients.
But having a healthy client base also allows you to give multiple groups of people new products and services to test; making your business stand out encourages your clients to stay loyal.
Offering your existing clients demos or tasters of new products/services you are trialling will not only give you an insight into the effectiveness but also make them feel valued. .
Build a loyalty program
By creating incentives, like a tiered membership system within a loyalty program, you can increase revenue and keep a constant client retention rate.
Discounted rates or additional services, for example, should be offered and increased in value as the client continues to use/advance through the loyalty program.
My clients still aren’t bubbling with excitement for my business, what do I do?
Whilst the process of growing your business can be challenging, it is key you understand its principles, especially those centred around your clients.
Having a solid knowledge of these principles will help you to make informed decisions for your SME, but the best way to grow your SME is to seek the help and guidance of a trusted professional.
If you are struggling to grow your business and want advice, contact us today.
