LMG Global Must Read Guide to Customer Retention

    TORONTO, ON, November 14, 2014 /24-7PressRelease/ -- Keeping customers returning and maintaining customer retention is incredibly important and can boost a business in a number of ways. Firstly, it shows that the business is doing something right; whether they are offering brilliant products/services or an excellent customer service it proves that the business is in fact a good and trustworthy business. In turn, this then helps to boost publicity, all those customers that have been impressed and return to the brand become a free PR team, recommending the brand to family and friends. LMG Global points out that statistically those who have heard about a brand through recommendation are more likely to try it than those who come across it on their own. This helps to further better the reputation of the brand and allow the business to grow and drive more sales.

Unlike traditional relationships or friendships, the responsibility of maintaining customer relationships lies solely with a business; it is their responsibility to put in the effort to make sure that the customer wants to keep up their side of the relationship by returning. The reason the business must put in all the effort is because customer retention has a stronger effect on their business than on the customer's life. Just a 2% increase in customer retention has the same effect as decreasing costs by 10%; reducing a customer defection rate by as little as 5% can increase profitability by as much as 125% and 80% of future profits come from just 20% of existing customers. However, despite these figures proving that customer retention is worthwhile, LMG Global says that many businesses are failing to live up to customers' expectations and are not maintaining relationships.

LMG Global has outlined some of the most common retention mistakes and hopes that this will help businesses to avoid them in the future.

Taking current customers for granted
It's easy to stop making the effort once the customer has been won over, it may feel like the job is done. But once current customers feel like they're just another number then they will leave. There is a competitive market out there and if competition is going to offer a better service then prepare to lose them. Showing clients that the business cares does not require a huge effort and can stop them from being poached by other businesses. Remember they already like the business, it caught their attention in the first place, and they just need reminding of how great they are and how much they are valued as a customer. Sending handwritten notes, birthday cards or other tokens of appreciation will go a long way to gaining customer loyalty and will turn these valued customers into effective brand ambassadors.

Front liners lack the ability to respond appropriately
Lack of training means lack of knowledge and lack of knowledge will not impress customers. If they need help they need someone who knows how to respond quickly and efficiently. To prevent this becoming an issue it is important to regularly check customer service and train those who interact with customers on a daily basis.

Not responding to customer inquiries fast enough
Or not responding at all. Customers leave because waiting lengthy periods of time for a reply leaves them cold and feeling unimportant. Ignoring customer feedback or complaints can quickly escalate and be damaging for a brand especially if this happens over social media for other potential or existing customers to see. To combat this it is important to have a team of dedicated front liners who can monitor and respond to any online sites quickly.

LMG Global is a direct marketing and sales firm that specialize not only in improving their clients' customer acquisition but increasing their customer retention too. To do this the firm use a unique and personalized form of face-to-face marketing that helps to build a one-to-one personal and long lasting connection between the consumer and the brand.

About LMG Global: http://lmgglobal.org/about/

LMG Global is a sales and marketing firm specializing in direct marketing. The firm uses face-to-face marketing to improve their clients' customer acquisitions and generate a high ROI.

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