The 5 R’s – Retention

This seemed a good time to continue the series on the 5 “R’s” .  The third R is Retention.

Most businesses work hard to develop customers.  The question is then how do you keep those customers coming back?  The short answer is, make sure you have a product or service that they need or want.  However, that obscures the truth of client motivation.

For retention the customer must have a rich experience, one that makes them want to come back.  Here’s some tips:

1.  Did the customer have fun?  Was the interaction an enjoyable experience for the customer and they want to repeat it?

2.  Was there a personal connection?  Did you or your staff get a first name and use it?  Do you or your staff know something personal about them and share something related and personal about you?

Retention

Are your customers coming back for more?

3.  Did you give them a reason to come back?  Perhaps a special discount or a benefit for repeat visits.  Possibly there is a task for them as part of your services and an accountability?  Maybe you have asked for a referral and now they are your partner in promoting your products and offerings.

Finally, let’s ask this question.  If you were your client, would you want to come back?  Are you getting such a great customer experience that you can’t wait – and if not, what can you do to change?

About Joe Schmitz

Joe Schmitz has been involved in equipment leasing and finance for over two decades. Joe has a special area of expertise in the fitness industry, having placed funding in excess of 100 million dollars for small to medium sized health clubs, Joe has also funded general equipment projects throughout the United States. Currently one of approximately 200 Certified Lease Professionals (CLP) in the United States.
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