Posted On: August 10, 2022
Customer retention is more important now than ever so what does it mean and how can you get your sales team and leadership to place a higher priority on the tactics you define as part of your customer retention strategy? It is a collection of activities that a distributor defines and implements that are best at getting customers to keep buying from you while maintaining or increasing your profitability of each existing customer. Simply put, do things that make them want to keep coming to you.
Make your list now of new customers acquired due to inventory advantages the pandemic placed you in. What’s their purchasing pattern each month since they came on board? Survey these customers now and ask the following questions:
1. Where were you buying before?
2. What made you shop our locations?
3. What are we doing that you like compared to your previous supplier?
4. What would like to see us do more of?
5. What do we need to do to keep your business?
Summarize the data and match it to your strengths as well as the tools you can implement to keep adding value to their business relationship with you. Choose activities that can be easily executed and maximize your profits and go to work. Remember to the K.I.S.S. method!