As an inside sales professional, often times we think solely of driving leads, qualifying those leads, and (hopefully) closing those leads if we’ve done our job right.
However, perhaps the most important aspect of the sales after using a sales technology and growing your business is client retention. Take a look at your own company. What is the percentage of customers that once signing the contract and using your product are still customers 12 months later? These are important metrics to track because they can say a lot about problems areas that are potentially easily fixed and create a higher retention and customer satisfaction.
Just last week, I was in a meeting with Ken Krogue, President and co-founder of XANT, who said, “There are four questions that every customer, current and former, should be asked when evaluating your business.”
The impact from calling your contacts and asking these simple questions is huge. Imagine the potential information that could be gathered. Think about it.
The questions, and what each question potentially uncovers, are listed below:
1. “Why did you buy?”
From the first question, you learn the key benefits and features that clients are gaining from your solution. Potentially, you could even uncover a use that you had not before realized and you therefore open your business to an entirely new market.
2. “Why did you not buy?”
This question uncovers key concerns and reservations that customers may be having when deciding whether or not to purchase your product. By documenting these concerns and reservations, you are able to address them and increase the value of your product.
3. “Why are you still a customer?”
Your happy customers are often your biggest advocates. They see the benefits they have seen from implementing and using your product. Use these clients for case studies and to promote your strengths.
4. “Why did you leave?”
While sometimes the hardest people to contact, former clients often had a very good reason for leaving. Was it poor customer service? Or bugs that were not being worked out? Whatever the problem was, by studying and researching these problems that made customers leave, you can uncover problems that other customers may be having that you may not have been aware of.
Well, there you have it. The four questions that every sales rep should be asking to increase client retention and continuing growing a company.
What other tips do you have to increase client retention? Have you found something to be particularly helpful? Let us know in the comment box, below.
Photo Credit: Horia Varlan
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