How to Avoid Losing your Most Valuable Customers

Research shows that Americans lose 15% of their customers in operations, where a loss of one costs $243 on the global average. It could be because only 33% of business executives prioritize customer retention while others disregard their impact.?

The key to retaining the most valuable customers are courtesy, efficiency, and reliability. You need to have strategies including not over-serving and selling to low-hanging fruit clients, giving them support and attention, and not disregarding competition. These will help you keep them and improve your customer service.?

Running a business is challenging, but it is also rewarding. The thing that most challenges entrepreneurs and small business owners are the threat of losing their most valuable customers. To avoid this, you need to put in place some key strategies that will help you retain your best clients for as long as possible. Read further to know more.?

Strategies to Avoid Losing Your Customers

How do I avoid losing my most valuable customers? It is a question that every business owner has asked themselves at one point or another.?

Running a small business can be challenging, but it is also rewarding and incredibly fulfilling. However, some challenges can be difficult to overcome, and one of them is retaining your best customers. To avoid this, you need to put in place some key strategies that will help you keep your best clients for as long as possible.

Avoid Selling to 'Low-Hanging Fruit'?

If you allow yourself to get distracted by low-hanging fruits or customers that are easy to come and go, it might cost you a great loss in the long run. It is important to weigh every opportunity that lands on your doorsteps and check whether they align with your brand and goals.?

Investing resources into these types of clients is not worth it. Instead, you should look for high-performing customers who are different from your existing best clients so that the relationship is more interesting and challenging to maintain.

Do Not Over-Serve Your Best Clients

If you find that your most valuable customers demand a lot, it is time to ensure they are not getting too much value out of the relationship. Over serving can damage other areas in your business and mean you lose sight of your other customers.

You should make sure that the value you are offering is appropriate and not too much. Ensure it is a healthy relationship, and avoid over serving clients with tons of stuff they do not need or want.

Do Not Focus On Selling

If you only focus on selling to your best customers, then it is time for a change. To keep them around, you need to focus on the relationship and offer added value. Selling too much will annoy your most valuable clients, and they might start looking elsewhere for help with their business challenges.

Focus more energy on building relationships than just trying to sell. Your best clients might not even need to buy from you as they have all the answers already.

Give Them Support

It is easy for your best customers to be neglected once they purchase because new sales opportunities are always knocking on the door. Make sure that does not happen by giving your most valued clients ongoing support and access to resources long after buying something from you.

Give Them Lots Of Attention

If all of your most valuable clients always need customer service, it is time to make sure they get a lot of attention. It does not mean you should give all your time to them for free, but it does mean that there is no excuse for not responding quickly and efficiently.

Make sure that your best clients receive the most amount of attention from you. Give them lots of support if they need help with anything.

Make Sure They Get The Most Out Of Your Product

If your best customers constantly have to contact customer service about issues, it is time to change. Ensure they are getting the proper training, so they know how to use what you sell effectively and efficiently.?

Allow them to learn from others with similar challenges and make sure they understand how your product can help them succeed.

Do Not Ignore The Competition

If all of your best customers are being won over by competitors, then it is time for a change in how you deal with them. Encourage loyalty and show that you are committed to helping their business grow no matter what challenges they face.

Make sure there is more than one option when choosing who to work with. That way you will always have more choice.

Make Sure There Is A Measurable Return

It does not matter how much time you invest in your best customers. If there is not any sort of return, then it is not worth it. Ensure that what you are offering has enough impact on their business and check to see whether they would recommend your product or service.

Conclusion

Companies with effective customer retention strategies will spend less time, effort, and money to keep afloat versus a company that disregards their customers. A satisfied and happy customer will eagerly return to you and be more willing to do business with you because those valued and appreciated are easier to keep.

Want to learn more on how you can keep your customers happy? Book a time with me at calendly.com/scottphilips/15min-1 .