When growing a new or existing business there are 101 things on your to-do list.
And often, in the pursuit of new business and revenue growth, paying attention to your existing customer base can be overlooked.
So, how do you fix this?
To ensure you customers are engaged and receptive – and most importantly stick around – Business Insider spoke to Andy Sheats, founder and CEO of health.com.au, Australia’s first online health insurer, to find out his business strategy to keep customers engaged and boost retention.
Here are his four tips.
1. Give the customer something they want and need.
As customers move along the path to purchase there are often little triggers that can make or break the decision to buy. Often this may due to a lack of understanding. Helping customers to make informed decisions but providing them with tools and information at various trigger points can help to reinforce the value of your offer and also help the customer make the best decision for their needs. These do not have to be complex tools. Sometimes it’s an e-book that can help clarify a complex purchase decision for example.
2. Give the customer something they don’t expect.
The number one rule to building great customer relationships is to ensure customers feel valued. This doesn’t have to be through grand scale activities. Often unexpected and low cost rewards, for example a $1 scratchy sent to them on their birthday, can boost engagement by keeping the lines of communication open and showing that you do value their support.
3. Make it really for the customer to say yes and progress your relationship.
At health.com.au our number one rule is to keep it simple! If you make it too hard for customers to engage with you by asking too many questions or having multiple data entry pages and fields to be validated, you are creating a barrier, which not only builds frustration but also can often be the make or break point for the relationship.
4. Help the customer change their life for the better.
Don’t just offer a product or service, become part of their lives by creating meaning and value that is greater than just the solution you offer. To do this you need to build a brand that your customers like and can relate to. For example… Activities such as sponsoring their first half marathon, or just a fun team run, show that we are supporting their positive change and backing them to live a better life. This doesn’t always translate in sales, but sales are not the point of this exercise. It’s about goodwill, and creating meaning and value in your brand that the customer can relate to.
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