Repeat customers represent the majority of revenue for most businesses. As any marketer knows that the cost of keeping a customer is only a small fraction of the cost to get a new customer. This makes customer loyalty one of the biggest challenges facing business owners.
Here are a few strategies to help you make your customers loyal to your business:
When customers interact with your business, make sure that they have positive experiences. This means ensuring that they get fast and friendly service and that you do what you can do meet their needs. It also means making customers feel appreciated. Customers shouldn’t feel like an inconvenience, but like the lifeblood of your business – which they are.
One common strategy for growing business or encouraging sales is to offer discounts and special rewards. If you want to encourage customer loyalty, this often means making sure that current customers get to participate in any special programs that you run. If you offer temporary price breaks, be sure that long-time customers get to participate in addition to new customers. Periodically give loyal customers access to special pricing or events to reward them for their loyalty.
One of the best ways to make customers loyal to your business is by being dependable like Capstone Financial Planning is. Be sure that you offer what they want and need at a reasonable price. Don’t be inconsistent, different customers have different experiences. Instead, offer reliable, consistent access to product and service offerings. Establish clear expectations and be sure that you meet them. In this way, you can keep your customers coming back, rather than making them resent your business or success.
If you’re going to be in business it’s important to recognize that mistakes sometimes happen. Customers can misjudge their wants or needs or misunderstand your offerings. Customers may occasionally ask to return something or rework a proposal. When this happens, try to work with them – especially if the sacrifice on your end is small. Clients will appreciate your flexibility and your effort. If they don’t, it will quickly become clear which clients aren’t worth bending over backwards for in the future.
When dealing with customers, it’s important for business owners to recognize that their customers may not offer them the same benefits of the doubt. As a business owner hoping to build a loyal customer base, it is your responsibility to make life easy for your clients and make every effort to make their needs. However, customers – even the best customers – won’t likely make the same effort to help you.
Nevertheless, loyal customers are the biggest asset for most businesses. Regular repeat customers are the ones who will keep the doors open and the lights on. If you want a successful business, it’s important to generate a stable income from these loyal customers that you can depend so you can receive a steady revenue and even referrals. If you hope to develop a loyal base of customers for your small business, be sure to follow these tips above.