Retention Marketing: An Incredibly Easy Method That Works For All

by E.C. Oyos

Nowadays, several businesses highlight the need for retention marketing or client base maintenance. The customer can no longer be regarded as an interchangeable faceless commodity. The customer’s sense of choice gives him a feeling of entitlement to certain service levels which if not satisfied could result in the customer taking his business elsewhere.

On step towards maintaining one’s client base is to limit the customer’s choice of competitors. This can be accomplished by differentiating one’s self from the competitors in the market. Improving the quality of product and service in an effort to meet the client’s expectations, would set one apart from the rest. In doing so, the client would feel that the company is indispensable and that no other company gives this same quality of product and service; they buy the seller’s interest and attention to their needs. They also buy the seller’s reliability in delivering the quality product on time at a set price.

The customer must also feel that he is just as indispensable to the company. He must feel that the company is continually exerting efforts to keep him satisfied. The customer must feel that he is getting his money’s worth.

The marketing department must exert efforts in evaluating every phase of customer interaction by:

• Formulating service and quality improvements, generate new products, and correct problems early enough to prevent a customer from leaving.
• Taking the responsibility of being a client sensitivity monitor. They must be aware of the customer’s impression after a business is transacted. They should be aware of the company’s complaint procedures, that these procedures are actually geared towards improving customer relations.
• Exerting efforts to know and understand their customers. By familiarizing oneself with the client’s organization and its on-going needs, the marketing department, achieves several things:

1. They become aware of the business conditions that the client is faced with.
2. They know what needs the client may encounter.
3. They open up awareness in determining additional products or services that the company may require.
4. They have the opportunity to pinpoint problem areas that could be used to develop new products or services.

Retention Marketing, which glues the customer to the business, deserves just as much attention with that of acquiring new customers. The key to a successful business lies not only in the business acquisition of new clients but on its ability to maintain existing client base.