7 Tips to Increase Profitability by Retaining Customers
5. Think and act beyond actual sales
In order to make a relationship last beyond the immediate sale, think beyond it! Instead of concentrating on one transaction, try to know each person or company better. Dig deeper to know learn their processes and systems, their pain points and ways to help them. In a consultative style of selling, you should offer advice, let them know about complementary products and provide tips for maximizing the value of their purchases. Your clients can benefit from your products but they should also be able to leverage the relationship with you. Once there is trust in you, they will ask for help openly; resulting in long and fruitful relationships.
6. Provide value with automation
Automation converts time-consuming tasks into standardized processes which greatly improve efficiency. Businesses who automate are able to distinguish themselves from competitors. One example from our company is the Affinity Express Service Bureau 4.0 (AESB 4.0), an innovative, cloud-based workflow solution that enables publishers to evolve into complete marketing resources for their advertisers, while increasing profits, lowering costs and improving productivity. Some of the advantages of AESB 4.0 are as follows:
- Supports a complete range of digital and print products
- Increases the profitability of orders by making the process faster and easier
- Provides extensive business intelligence on an enterprise level
- Integrates the entire process from sales to billing
- Allows salespeople to access from anywhere and using any device
- Stores past campaigns, proposals, contracts and other details
As we have seen with AESB 4.0, automating and standardizing processes increases customer loyalty and pays off with improved customer retention rates.
7. Get Personal
If a restaurant manager remembers me from my last visit and suggests a new dish or drink that is close to what I preferred on my previous visit, I feel valued enough to visit again and share the incident with my friends. Customers like attention without someone getting in their way. Small tokens of appreciation like emails with customized offers, thank-you notes to returning guests and personalized greetings on special occasions are good practices. Involving your business in community events is a special way to give back to your patrons and customers. These small but very critical steps can become deciding factors when you are compared to competitors. Are you paying attention to what’s important to your customers? What else have you done to improve retention rates and build loyalty?