Getting the attention of potential customers through marketing campaigns and converting them into paying customers are only two parts of the small-business-success equation. For your business to survive a competitive market and grow in a sustainable way, customer retention needs to be the element that completes that equation.
In reality, retaining customers can be more difficult than attracting new ones. That said, customers with higher lifetime value are also more beneficial to have than those that only make one purchase. To better retain customers, you need a good set of customer loyalty strategies, and we are about to discuss some of them in this article.
Don’t Let Your Customers Go Unattended
The money you spent on marketing is actually money spent building a relationship with customers. The last thing you want is for that investment to go to waste just because you don’t take further steps to maintain the relationships you’ve established.
Follow-ups are your biggest weapons here. Instead of abandoning the customers after they make their purchases, continue engaging those customers and find out more about their experience with your product.
Don’t just follow up for the sake of following up either. Listen to what the customers have to say and try to incorporate the insights you get into existing workflows. The more you listen, the more you can learn about what the customers really want, and the better you’ll be at meeting those demands.
Provide Good Customer Service
A lot of small businesses shy away from having to deal with complaints from customers. Whenever a customer posts a negative comment on their social media pages, they immediately delete the comment or simply choose to ignore it.
Every complaint you get is an opportunity. It is an opportunity to convert one unhappy customer into your most loyal fan. All you need is deliver good customer service and provide the customer with the best aftersales experience possible.
Customer service is a worthy investment. A strong customer service reputation helps your business to stand out in a competitive market. It is no secret that reliable customer service is the driving force of any business.
Use Marketing in Moderation
We tend to be too pushy when trying to win customers and persuading them to make more purchases. While there is nothing wrong with targeting existing customers using instruments such as remarketing and newsletters, doing marketing in a subtle, moderated way is how you want to move forward.
Today, the most successful businesses are the ones who focus more on building genuine relationships with their customers rather than selling more goods to them. Yes, there is still marketing involved in engaging the customers after their purchases, but you can always do it in a subtle manner.
Rather than using direct calls to action, repurpose your marketing efforts to focus on value. Rather than advertising new products, tell stories and let the customers see how your new products can bring value to them.
Make Them Feel Special
Last but certainly not least, there is always a huge plus in making the customers feel special. Since you already invest in maintaining your relationship with customers, making them feel special and appreciated will not be difficult at all.
For example, you can run exclusive deals and discounts that are only available to existing customers. You can appreciate social media followers with the same approach. You can even run a loyalty program to further amplify these special offers and deals.
Rewarding your customers is how you make them feel special. Combined with the other strategies we have covered in this article, boosting customer loyalty and improving their lifetime value are certainly easier to do. These, in turn, will be the keys to building a successful small business.