Strategies for Effective Client Retention in the New Economy by Frank Tureczek Client Care Expert

www.westcoastresorts.com

I think it is fair to say that everyone, in some way, has been affected by the financial meltdown and subsequent economic tsunami that followed in 2009. Frankly it changed us in way, both in business and personally, that few things have ever done.

In the following article we will review strategies for effective client retention in the new economy beginning with what our clients expect from our loyalty reward programs.

The first thing we must recognize, as detailed in a recent Harvard business article, is that well-off consumers are now shedding or simplifying. They are dumping their stuff and cleaning out the clutter. Secondly, they are turning to experiences, not possessions and they are giving experiences rather than goods as gifts to friends and relatives. Experiences affect you at a much deeper level. They don´t tie you down, require no maintenance and permit you to change on a dime. Dining out, foreign travel, even learning new skills will be the most sought after rewards. Thirdly, their stuff embarrasses them. Big cars now signal the irresponsible selection of a gas guzzler. The buzz word of the day is optics. The advantage of experiences is they can be cherished but are not out there for the whole world to see. These are well-off people who value quality over quantity.

Ultimately how do you really know you are doing the right things for the right clients? Ask the best people in your organization. They are those unique individuals that truly know their clients. What questions do they ask? How do they craft their responses? How do they manage that relationship? How often do they contact that client? Arm yourself with the right information and you increase your chances of making the right decision.

For more information on strategies for effective client retention in the new economy please visit our website to receive free copy of our powerful research data entitled: A Special Report on Key Client and Employee Retention. We had an independent research company analyze these critical issues at a great expense and effort because we believe them to be key factors to the continued success and profitability of any business. The report is free and is yours to download today- no further obligation.

As an added bonus, those of you that request the full report will automatically be entered in draw to win a trip for 2 to one of our spectacular remote resort locations in British Columbia Canada during the summer of 2010. Visit our website today!

www.westcoastresorts.com