It is a well known fact that it is a lot more expensive to gain new clients than to retain existing ones. In the U.S. alone, only around 50% of all small- and medium-sized businesses have actually proactive strategies in place that ensure their recurrent clients come back for repeat jobs. It is very important not to underestimate the potential an existing client can have for your business, as an interesting statistic shows that an increase of 5% in client retention can lead to an average of 75% increase in the average business’ profitability.
Here are some important strategies that can help you retain customers and increase their loyalty:
Put yourself in their position
Know exactly what the driver for the translation project for your client is: Time, Cost and/or Quality. Ask sufficient questions and listen to what your client is telling you. Communication is the key.
Be proactive and don’t wait for a miracle
Observe any unusual behavior patterns, such as declining quotes after the client has always approved the quotes, or a client is not getting back to you for quote requests. It is very common that an unsatisfied client will not inform you about the poor service they received and will just keep quiet and never get back to you. Being proactive gives you the chance to detect these patterns and can give you the chance to fix problems or issues—this will impress your client and help you retain him or her.
Ask for feedback
Asking the client for feedback regarding the service and/or translation quality can make the difference in keeping or losing a client. Find out what the client is happy or unhappy with and resolve the issues. Also surveys can be implemented as a alternative last resort.
In my next blog I will inform you on further strategies and steps which can be implemented to sustain customer loyalty.