Establishing Trust is the Key to Customer Retention

As hard as it is to get new business, many companies drop the ball when it comes to keeping that business. Contacting your customers is an excellent way to establish trust. It's dangerous to take your current customers for granted. They want to know that you are thinking about them all the time, not just when you are trying to sell something. It's easy to come up with lots of excuses for not calling your existing customers:

"I'm too busy with my day-to-day tasks."
"I have deadlines to meet."
"I don't want to be a nuisance."
"I'm afraid if I call, I may hear complaints."

Take for example, Josh DeTar, a financial adviser with Edward Jones who was featured in a recent Wall Street Journal article. He knows that his customers are dealing with high levels of fear and stress due to the current economy. He also understands that there's a good chance that when he calls his customers, he's may get an earful of complaints about the market stress. He said that his role has become almost like that of a therapist. Still, Mr. DeTar checks in at least once a month with each of his customers. By finding ways to stay in touch, he is building the trust that is essential to customer retention.

Phone calls are a great way to keep in touch, but if you're worried about becoming a nuisance, there are other ways to let your customers know they are valued. For example, Mr. DeTar reads the obituaries and sends condolence cards to any customer who may have lost a loved one. You can send birthday cards, articles, tips or simply a hand-written note thanking them for doing business with you.When your customers hear from you on a consistent basis, they trust that you genuinely care about them as individuals. Your contacts do not have to be business-related. Last spring, I heard about some serious flooding in the western part of Wisconsin. I knew that one of my customers owned a summer home in that area so I called to let him know that I was concerned about him. He wasn't in when I called, so I simply left a voicemail expressing my concern that his property and family were safe. Several months later he called to thank me and indicated that he had really appreciated my message. Not every contact will translate into business, but not contacting your customers on a regular basis may translate into lost business.

Source: Loyalty Leader Quick Tips - Issue #301 "Establishing Trust is the Key to Customer Retention"