Businesses spend a lot of time and money building their client base. According to Brightback’s State of Customer Retention Survey only 14% of B2B companies put improving customer satisfaction through better customer experience and support at the top of the priority list. With that said, where we would be without our current customers? You should treat them the same way you treat your significant other, never stop dating them. Send them gifts when they least expect it, reach out for feedback on how your services are doing and continuously make time for them. Building loyalty with just 5% more of your customers can lead to an increase in average profit per customer by at least 25%.
The lifespan of a B2B relationship goes beyond walking into a brick and mortar store and walking out with a purchase. A good relationship between a billing company and medical practice can last years. By sending your clients a small gift, you are showing that you care about them beyond your professional relationship. Handwritten letters also put a nice personal touch on follow-ups. Everyone expects to get an email from their vendors, but most people associate handwritten letters with friends and family. Customer loyalty goes beyond billing, they are loyal to the relationship they have with your business.
It is not always easy to get that face-to-face time with clients who are all across the country. Busy practices directly correlate with the success of your company, but relationship management should be a top priority for any medical billing company CEO. Give yourself a goal to see each one of your clients face-to-face during the year. Whether it is over a cup of coffee, a weekend trip, or a quick day trip, being able to be physically present with your clients will always trump a phone call. When conference season is on the horizon, organize a dinner or cocktail hour with clients. It is a great opportunity for your clients to network with each other and maybe even an opportunity to get a referral to grow your business.
Customer loyalty goes beyond the service, practices are loyal to the relationship they have with your business. Spending the time to work on your current relationships can be much more lucrative than exclusively dedicating time to prospecting new clients. When your clients are more than a drive away, it may seem too out of reach to get the time to fly out and visit, remember for every $1 companies invest in business travel the company receives an average of $12.50 in revenue. If you create time to be loyal to your customers they will return the favor. [/responsivevoice]