BUSINESS RETENTION STRATEGY

A presentation on how companies can retain their current Business transactions.

By Unathi Mahaluba19 Aug 2014

What is Business Retention?

• It is converting a first time buyer of your products into a loyal client.

• It also means retaining a valuable supplier of services and products.

• Retaining sponsors of products and services.

• Keeping shareholders happy and willing to invest more of their money into your company.

• Having a high skilled employees retention rate.

• It is having a successful relationship with your business partner or partners.

Why is it important for a company to retain its

business ?

• Clients who remain loyal, buy up on their next visit and have proven to be the best marketing tool.

• In order to create a brand, a company needs to have a high business retention rate.

• It will help a company spend more time attracting new clients. It requires less resources to keep a loyal Client than to get a new one.

• It is a known fact that the companies that make money are the ones that keep the client, sponsors, shareholders, and investors happy.

How does a company retain its Business ? 1. Through having Business Growth,

Success, stability and great future prospects.

2. Through Creative Leadership and business structures.

3. Highly Positive experience on every business transaction.

4. Continues Follow up services. 5. Staying relevant to newer business trands

but maintaining originality.6. Value and originality speak way louder

than price.

1.Business Growth and Success

• When a Company is growing it attracts new clients, sponsors, and investors.

• Everyone wants to be part of a successful and growing Business.

• People are attracted to a company that maintains stability and sticks to its core values and principles.

2. Through Creative Leadership and business structures.

• The success of a company lies in the hands of the leadership it is under and the way the people in that company are treated.

• Leaders need to have a vision for the company and be full of passion, hunger and the drive to succeed.

• Leaders should be constantly reviewing their business strategy to make sure that it is in line with current market strands.

• Companies loose business because of the lack of proper business structures within their organization.

3. Highly Positive experience on every business transaction.

• The companies that retain their businesses are the ones that are transparent in their dealings.

• There are no hidden costs or agendas.

• When businesses are making business transactions a highly positive experiences are very important. To avoid negativity at all cost.

• Having a serve mindset. There are things that a customer must not pay for (e.g. a smile)

• Your companies problems are not the client’s or the sponsors problems.

4. Continues Follow up services. • Companies that retain

their businesses have high levels of service at no extra cost to the customer.

• Taking the time to serve your customer now means business, sponsor for your company at a later stage or another cash injection into your business.

5. Staying relevant to newer business strands but maintaining originality.• Well we know VCR’s and type

writers are no longer booming any more or even relevant.

• Technology changes everyday, your company needs to stay in par with these trends.

• Never be left out, when your customers, and sponsors are adopting to a new trend your need to be ready to do the same. Or they will go to someone that can.

• Maintain core values, principles and originality.

6. Value and originality speak way louder than price. • People don’t mind to pay for value

and originality. • The brands that have remained

original and modern at the same time have reaped the benefits through their market share.

• Originality and value must not exist only within the walls of your company, it needs to follow your customers everywhere they go and that is what big brand have been able to do, and that is to be part of the everyday lives of their customers. Sponsors, and shareholders.

Thank You