7 Tips on Attracting and Retaining Loyal Customers
Ezra Cabrera | June 4, 2019
Customers are the lifeblood of any business. Without them, you simply wouldn’t have a business. This is why it’s extremely important to attract and retain customers and establish a long-term relationship with them. Great customer service and Reno business loans are the keys to guarantee the longevity of your company.
A positive customer service experience goes a long way. According to IDC, they observed 24,000 consumers from 12 different countries. They discovered that 25% of the consumers leave a review and 18% repurchase from the same company after a positive customer service experience.
With that said, great customer service is key to attracting and retaining loyal customers. So, how exactly do you attract and retain clients? Here are four simple tips you can follow.
1. Earn their Trust
Just like your personal relationships, business relationships need time, trust, and commitment to grow. When your customers trust you, they will stay loyal to your brand. To earn their trust, you need integrity and honesty. If you promise something to your customers, it’s imperative you deliver on your promises. You also need to show your good intentions and make sure that you’re acting for the mutual benefit of all involved parties.
2. Keep Them Happy
The average business loses 20% of its clients each year because they fail to establish strong customer relationships. It’s far better to create a cost-effective marketing strategy with the purpose of retaining existing customers, rather than recruiting new ones. If your business has a solid returning customer base, this will most likely result in consistent growth through repeat sales.
Creating long-term relationships with new clients is the key to sustainable business growth, especially during your first year of business. If your new customers have a positive experience with your company, they’ll definitely come back and tell others about their satisfaction with your business.
3. Be Consistent
Even if you have an innovative product, you’ll lose customers if you don’t produce consistently. Your business needs to provide top-level service to your customers on an ongoing basis in order to retain them. Being consistent in terms of quality, design, and quantity will also contribute to building trust. Regardless of your industry, make it a point of consistently providing top-notch customer service.
4. Know Your Competitive Advantage
Knowing what your competitive advantage is means knowing what sets you apart and makes your business superior over that of your competition. You need to determine what and why your customers prefer doing business with your company as opposed to your competitors. What is your unique selling proposition (USP)?
To determine your USP, think about what made them purchase from you. Once you have an idea of your USP, it’s easier for you to understand your target market and create strategies to keep them coming back for more, as well as build a customer base, Your USP can either be based on quality, price, stellar customer service, reliability, etc.
5. Create Customer Loyalty Programs
Did you know that it’s cheaper to retain a customer than to acquire a new one? With that said, you need to take proactive steps in making sure that your existing customers will remain loyal to you.
A customer loyalty program is a great way to show customers that you appreciate their continued loyalty. The more they shop from you, the more they are rewarded. This keeps your customers happy and engaged. You want to ensure that your customers are more than satisfied because studies show that top customers spend three times more than the rest of your customer base.
6. Refrain from Over-Promising
It’s easy to promise your customers the world, but over-promising and under-delivering is a recipe for disaster. You’ll lose the credibility you worked so hard to build. Be transparent and align expectations with your customers. Building customer trust goes hand in hand with retaining customers, so make sure to keep everything as accurate as possible.
7. Offer Great Customer Service
Offering great customer service is necessary to attract and retain customers. This tip seems like a given, but it’s important to repeat it over and over again. Studies show that 78% of customers bailed on a purchase because of poor customer service.
Customers will remember great customer service when they experience it. Keep your customers satisfied because happy customers spend more.
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In today’s economic climate, customer loyalty is more important than ever. Be sure to keep these tips in mind as you create strategies to retain customers.
Attracting and retaining customers requires time, effort, and money. Reno business loans provide you with the funding you need to take your business to the next level.
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