When starting a business, one of the major factors people consider in order to be successful is the ability to attract customers. This is why advertising has become a very big part of business as more creative ways are being discovered to help businesses reach the right audience.
But as much as business owners are trying to attract new buyers, it is also important to make sure that they stay loyal. Old customers are as essential as the new ones because they ensure the continual flow of profit.
With this in mind, it will be wise for your business if you go back to your budget and split the money planned for advertising into parts, one of which must be focused on keeping people who are already buying your products where you want them — by your side.
Why you should take customer retention seriously
New buyers will add more to your profit, but if you are not able to retain the old ones, there will be no profit stated to even improve on. Your business will just be having old customers replaced by new ones, which means there is really no growth, just a change in the sources of the same level of profit.
A customer that buys and likes your product will come back, but more than that, they will spread good word about your business by giving reviews online, rating your business five stars, and telling their friends and family about how good your products/services are.
An old saying tells you that the best form of advertisement is a satisfied customer, and this is so true because each time someone tells you about their good experience with a product, you start looking forward to trying it for yourself. Most network marketers depend on this form of advertising, which is 100% based on customer retention tactics.
When you take customer retention as seriously as you take advertising, you will have loyal people rallying around your business from all parts of the world. This support will really come in handy whenever there is a problem with your business.
Sometimes, an unsatisfied customer could be influential and use that power to speak against your business. In this era of cancel culture, you need an “army” of loyal customers who can speak on your behalf and counter bad opinions concerning your business with their wonderful experiences.
No matter how good your business, there will always be a customer that is not happy, and you can’t control how they react online, but your loyal customers can.
Steps to take in order to retain customers
Customer retention strategies are not difficult to carry out because if you were able to win your customers in the face of fierce competition with other brands, you can surely keep them by your side.
Ensure that your products and services remain excellent
What is the point of trying to retain customers if your products are no longer worthy of your customers’ money? No matter what you do, people will gradually stop patronizing you if your products fall short of expectations.
Remember that there are other brands out there that offer similar services and products as you do, so if your quality reduces, no amount of loyalty will keep people coming back to you. They will embrace your competitor and also start telling people about how you fell off.
So, the first and most important step to ensuring that your customers stay by your side is by giving them exactly what attracted them to you in the first place — high quality products and services. This will not only retain your customers, but also encourage word-of-mouth marketing and good reviews for your business online.
Reward your customers
So you already have an amazing product that your customers keep coming back to buy, but that is not where it should end. Your competitors are also on that level, so you need to take things further if you want to stand out.
To make sure your customers stay loyal, reward them for coming back. There are many ways to do this, and it is even getting more popular these days. After big brands tagged it as “customer reward programs”, small businesses are also using the tactic, and you would be lagging behind if you don’t start now.
You don’t need a lot of money to reward your customers when they make a repeat purchase, you just need to make life easier for them. Here are some effective customer retention tactics:
Buy two, get one free
Free delivery for purchases above $100
A discount on certain goods and services after the third purchase
Free delivery on a customer’s birthday
These offers will not cost you so much to provide, especially if you have already planned for them when you were laying out your budget.
Build a relationship with your customers
Thanks to social media, this is such an easy thing to do. Open an Instagram account and start engaging your customers there. Post about the new products you have, ask them to make suggestions, wish them happy new year, happy Eid, merry Christmas, etc.
You can even host Instagram live sessions and engage your customers on different topics related to your business. This will make them feel connected to you and build trust as well as loyalty.
Twitter, Facebook, and other social media platforms are also there for you to optimize. Use them to draw customers closer and they will stay by your side.
Improve your customer service
If you have a good product but keep finding it hard to retain customers, the problem could be from your customer service. People should be able to make inquiries and get respectful responses from your customer service personnel.
As long as customers do not feel good after reaching out to your customer service for any reason at all, they are most likely turning back on your business.
So, make sure you employ people that have the right training to serve your customers in the most loving and respectful manner.