Customer Retention Strategies

Few senior managers have regular contact with a broad range of customers, while many do not give clear, visible leadership in achieving excellence in customer management.

This marketing “speak” tends to end at boardroom level and does not infiltrate into every level of the business. Corporate gifts become a “nice-to-have” and not an integrated part of the customer acquisition and customer retention strategy.

Many companies do not know how many high-value customers they lose, nor do they know the reason why key customers are lost. What is also alarming is the fact that studies have shown that in the vast majority of companies, staff responsible for talking to customers could not articulate why customers should buy from them. Each failure to observe good practice leads to a leakage or even in some cases a hemorrhage in profitability.

You can and should use your corporate giving as part of a corporate communication strategy. When your consultants takes the corporate gift to the client, don’t let them just drop it off at reception. Make a set appointment and get the consultant to do a debrief of the year with the client.

Get them to ask face to face critical questions such as “Mr/Ms Smith I am always looking for way that I can improve my level of service to you. Can you give me three suggestions on how I can improve, based on your experience with me this past year?”

You can set the questions, but also set the tone for the next year, so that the client knows that you will do what it takes to retain their business.

Make sure the corporate gifts should be highly suitable and appreciable so that when you are sitting face to face with the client he/she has a positive attitude.

It is important to determine what the policy will be this year on corporate gifts. and to send out a memorandum to your corporate office. You may consult with the person, those who get the gifts in your corporate office only for a suggestion, but let your relationship with your clients be the guide.

Make sure the corporate gifts should be highly suitable and appreciable. Be sensitive to religious and cultural preferences while purchasing end of the year gifts. Unless you know that the client drinks never give alcohol. High stress levels in the work place have lead to alarming levels of alcoholism and certain cultures prohibit the use of alcohol, so keep that branded wine for those who will appreciate it.

You should not offend anyone because you have to work with them everyday, so don’t go for funny or obnoxious gifts. They will appreciate a hamper with pamper items or consumable rather than ten pencil sets, so be careful that you purchase gifts that are not too ordinary.

At the beginning of the following year, drop off a branded jar of mints, sweets or nougat to set the tone for the new year and retain those valuable clients.

You can visit www.belleregalo.co.za for some gifting ideas.

Happy shopping.