Retaining a loyal customer base can be much more cost effective than implementing marketing programs aimed at new markets. Existing customer relationships are crucial for small businesses. Loyal customers tend to spend more, more often and spread positive word of mouth about their experiences with your company.
There are six crucial steps to retaining your loyal customers:
Ensure your customers love your product
Customers are looking for value, support, and satisfaction. Is your product exceeding expectations? Do your customers have accessible support for successful product use? Does your product do what it is meant to?
Provide exemplary customer service
Provide superior customer service through platforms such as phone and email communication or educational content. Here at PiperDM we ensure our websites have several communication links in order for the customer to have several points of contact. To engage with customers make sure all customer communication is responded to promptly.
Track customer satisfaction
Invest in technology to track customer satisfaction. Survey tools can assist with determining customer satisfaction as well as a simple analysis of customer usage and asking your customers their opinions. Customer satisfaction is dependent on your service: monitor, analyse, and improve on a regular basis.
Know your customers
Be aware of what your customers want. Pay attention to their evolving needs and motivations. This will ensure your small business can react to new customer priorities in time to retain these loyal customers.
Nurture your customers
Once a relationship has been established with a customer your strategy must focus on nurturing this relationship. Keep your customers updated and informed about your business so that they feel part of it. All customers are different, the sooner you discover what a customer values, the better you can deliver.
Learn from “lost” customers
Obtain data from lost customers to learn why they left. Store customer information in a database focussed on their reasons for leaving, how long they were a customer for, and how engaged they were as a customer. This data will allow you to identify trends and aim to improve experiences for current and future customers.
There is a strong correlation between business success and customer relationships. Don’t take your loyal customers for granted. Take six active steps to continue to earn their ongoing loyalty to ensure your small business is a success.
By Lucy Fitzgerald