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Five Ways To Better Retain Customers In 2020

January 13, 2020|Informational

By: Alexandra Levit| PPB Magazine

Alexandra Levit, a best-selling author and columnist, says customer retention isn't an exact science but it's still something sales leaders should examine. In this issue of Promotional Consultant Today, we share Levit's five examples of smart customer retention programs.

1. Education. In a world where individuals are increasingly responsible for their own professional development, people will be grateful to your organization if you help them keep their knowledge fresh. Education offerings can take a variety of forms, notes Levit, from online courses and podcasts to information repositories and access to subject matter experts.

2. Pop-up engagements. Surprise reciprocity refers to the act of giving unexpected and delightful thanks to your most valuable customers in the form of a memorable gift or note. Your offering need not be pricey if it's delivered with care and thought, says Levit. Some of the best examples of surprise reciprocity are highly personal.

3. Real-time social media dialogue. Among client retention programs, Levit admits this one is the toughest to pull off. After all, many businesses offer phone or email customer service, and many engage with customers on social media. However, few have mastered the art of actively responding to brand-related comments on Twitter, Facebook or Instagram. This type of program ensures that customers have an additional vehicle for getting in touch with you and promotes the message that you are flexible and open to feedback.

4. Human-centered follow-up. Customer retention programs are only as good as the humans who power them, notes Levit. And even if a customer buys something from you once, there's no guarantee they will repeat the purchase when someone else dangles competitive pricing in front of them. Do your best to bring customers right back into your funnel by picking up the phone. Your objective? Thank them person-to-person and share tips and tricks for making the most of their purchase.

5. Personalized targeting. Segmentation strategy involves dividing your customers into groups by demographic, behavioral and psychographic characteristics, and serving up targeted marketing messaging accordingly. Many businesses have recently taken segmentation a step further by providing content and offers that speak directly to the individual customer.

Customers are the lifeblood of every business. That's why it pays to keep your current customers happy. It costs, on average, five times as much to acquire a new customer as it does to keep an existing one. Keeping customers for longer can have a meaningful impact on your bottom line. In the year ahead, look to the customer retention strategies mentioned above to retain your customers and stay competitive.

Source: Alexandra Levit is a former nationally syndicated columnist for The Wall Street Journal and a current writer for The New York Times. Levit has authored several books, including the bestseller, They Don't Teach Corporate in College.

FILED UNDER JANUARY 2020

Read time: 1 min

524 words

Ten Tips To Start The New Year Strong

January 2, 2020|Informational

By: Dr. Nicole Lipkin | PPB Magazine PC Today

If you constantly try to give 110 percent every day, you leave little room for the things you value. Instead, organizational psychologist Dr. Nicole Lipkin encourages sales professionals to clean up their head-space so they're prepared to take on new challenges and experiences.

Keep reading this issue of Promotional Consultant Today to learn Lipkin's tips for a more productive and energized 2020.

1. Dismiss the guilt. Guilt will drain you and exhaust your energy, says Lipkin. Use it as an emotional barometer, but then make a proactive decision about the situation that's causing the guilt. Imagine your guilt as a briefcase. Simply set it down as you're walking, and then keep walking.

2. Create positive habits. Every decision you make before you get to work taxes your mental energy, though you may not be aware of it. Pick a breakfast or two you like, an outfit that suits you and stick to them, advises Lipkin. When you're not thinking about what to wear you can be thinking about what to create.

3. Distance yourself from negative people. Try not to entangle yourself with the unhappy people in your life. Their problems don't have to be your problems.

4. Catch up with friends. Lipkin says this seems simple enough, but our professional lives often keep us busy in our own little worlds. Spending time with friends creates memories. Lipkin reminds professionals that later in life they won't look back on their important work but on time spent with friends.

5. Move your body. Exercising combats sadness and depression. Lipkin says it's imperative in order to feel good. Find something you like to do and try to create a daily or weekly routine.

6. Sleep. According to Lipkin, much of our annoyance and frustration with the world and ourselves is simply due to a lack of quality sleep. Try to get to bed by midnight and sleep for at least seven to eight hours, she advises.

7. Meditate. Meditation calms the mind, lowers your heart rate and allows your whole body to relax. Lipkin says it has been shown to reduce stress, improve relationships and improve your focus.

8. Take a break from social media. Lipkin says every time someone likes/hearts/shares your post you get a hit of dopamine in your brain, which feels good. Over time the dopamine release decreases but the seeking never stops. Take a break. Look at a tree instead.

9. Read Mindset by Carol Dweck. According to Lipkin, this book is a life-changer. Add it to your 2020 reading list.

10. Love and laugh more. Love and laughter take the focus off yourself. When you are less self-focused, you are less likely to obsess and stress. Watch a funny movie. Go to a comedy club. Laughter releases stress, builds endorphins and makes you happy.

When you think about living your best life in 2020, remember that you don't have to tackle every tip at once. Take it slow and stick with it—starting with No. 10.

Source: Dr. Nicole Lipkin is an organizational psychologist and the CEO of Equilibria Leadership Consulting, a leadership and organizational development firm. She is a keynote speaker, consultant and executive coach who has shared her expertise on NPR, NBC, Forbes, Entrepreneur, CBS and other national and international media outlets.

FILED UNDER DECEMBER 2019

Read time: 2 min

591 words