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Our Sheffield Masterclass late in October 2018 was one of our panel events and was about retaining your customers. The Panel had two of our Entrepreneurs in Residence Mike Bridge and Craig Hibbert of Monaghans and one of our members Jill Wood of Signum Facilities Management.

A lively discussion took place and I will summarise the main points made:

The Lessons Learnt

Jill Wood – Contact your customers at least every 2 months; keep up to date with where people are in the organisation and what’s going on. Make sure you have at least 2 contacts in each customer.

Mike Bridge – Everyone in your company owns the customers so it’s everyone’s job to keep in touch. Everyone must understand what value you deliver to your customers and must keep delivering it.

Why would I buy from you – is it price, value or service. Everyone must understand why the customer buys from you.

Craig Hibbert – Monaghans have client account plans and try to keep multiple channels of communication open – exhibitions, other events, socials, Twitter, LinkedIn, site visits etc.

Monaghans USP is better trained staff than anyone else.

Jill Wood – Understand how your customer likes to be contacted-email, LinkedIn, twitter…

Mike Bridge – Ask your customer who their best supplier is, if it’s not you, ask what is the single thing you can do to make you the best supplier.

Why do Customers Leave

Mike Bridge – To seek better value elsewhere. Its far cheaper to retain customers than acquire new ones.

Jill Wood – Start grading your customers. Stop being busy fools and concentrate on the most profitable. Know your competition and make sure you are better than them.

 

Nick Butler

12/11/18