5 Simple Hacks for Retaining High-Paying Clients

5 Simple Hacks for Retaining High-Paying Clients

Posted by Aditya Anand on August 22nd 2017

Introduction
Well paying clients are pivotal to any business. Well paying clients are those clients that make payments on time and spend more on your products and services. This group of clients is unique and hard to attract as well. For that reason, every business tries all it can to retain them when they are already in the flock and even attract more. But sometimes it is hard to come up with a comprehensive reward scheme to satisfy them. Here are 5 simple hacks for retaining high-paying clients;
 
Introduce matching loyalty cards
A lot of businesses offer loyalty cards to frequent shoppers which accumulate points every time they do shopping and can be redeemed at a later date goods and services. But when you have a have a group of well-paying clients who spend larger amounts of money on your goods and services, you need to introduce an alternative card tailor made for them to match their spending. Not only does it make them feel elite, it helps your business set up a special rewarding scheme that matches their value to your business.
 
Offer additional services and products
It can take a little effort to retain your well-paying clients when you look at their value on your business. For instance, if you consider what your high paying clients spend on your products and services, you may find out that the total profit from that group alone can overshadow the profit you make on other clients who spend less. Yes, all clients are valuable but it won’t hurt your business when you introduce a scheme that offers additional services and goods to compliment what your well-paying clients buy. For example, you can offer free fitting services when a client buys a given number of solar panels.
 
Offer preferential services 
This strategy has been perfected by banks but can be used by most other businesses. Banks tend to make every client feel important but behind the scenes, they treat their millionaire clients quite differently. Clients with sizable fortunes in their accounts tend to be given a faster access to customer care and have an array of incentives offered to them. They are also able to access loan packages that are otherwise inaccessible to other clients with less deposit in their accounts. We offer similar service for our customers during NBFC Registration process.
 
Cumulative discounts
This strategy works great when it is sufficiently publicized to the correct bracket of clients you wish to impress. Cumulative discounts are offered to well-paying clients when they reach specific spending targets – for instance, 15% off the next purchase for the first $150 spent in your premises. Limited time offers can be excellent in encouraging prompt purchases.
 
Inviting them to trial and development of products and services without charge
Well paying clients deserve all sorts of special treatment, including products and services trial and participating in the development process. If your micro finance firm wants is about to launch a new credit facility, you can select the most loyal clients who have made a larger financial dedication to your firm previously to participate in its pilot trials.

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