It’s no secret that long-term customers can have a significant impact on a business’ success — but only with effective follow-up programs in place. In a saturated market, a business’ ability to showcase its even minimal differences in quality in terms of the products and services offered can mean the difference between holding on to customers for the long-term and losing them. And experts agree: the most effective way to retain customers is to implement a systematic follow-up program.
Follow-up programs will also help you reap the benefits of customer retention:
- Higher repurchasing rates: When your customers have a positive relationship with your company, they will tend to buy from you more often, increasing sales revenue.
- Better cross-selling success: Studies have shown that customers who are satisfied with and loyal to a business will buy additional services and products from that same business.
- High-value customers: The total costs for your business in relation to existing customers is lower than those for new customers. That’s because an already satisfied customer requires less customer support and communication in general; therefore, it will cost you less to keep that customer over time.
- Lower sensitivity to price: Retained customers tend to buy products that cost more, as their loyalty leads them to become less sensitive to the actual price of an item. That means if they’re loyal, they’ll pay more than what your competitors may offer because they see value in your business.
These are just a few of the benefits that follow-up programs afford. So how do you get there? Check out Connections, the most powerful customer retention program available on the market. It’s a systematic series of touch points developed to keep the lines of communication open between your business and your existing customers. And it uses a set of strategic direct mail materials, along with email communications that will drive lead generation, customer retention, cross-selling and referrals.
For more information about turnkey follow-up programs that systematically develop long-term customer relationships, contact Halo Programs today. Find out how our proven comprehensive customer retention programs can offer customizable, personalized solutions to fit with your company’s needs and brand.