Learn 6 Ways to Retain Existing Customers
Helpful articles because running a small business is Big Work!
The art of how to retain existing customers can be illusive. Read on for 6 ways to retain existing customers and improve your business and theirs.
A lot of small business owners overlook this very important step in their business plan and consequently will lose repeat business because a customer has felt overlooked or neglected.
If you’re a business owner, you know that it is more expensive (approximately 6-7 times more expensive) to acquire a new customer than to retain an existing customer. Read on for ways to retain existing customers.
According to McKinsey & Company, 70% of buying experiences are based on how the customer feels they are being treated. Moreover, according to Ruby Newell-Legner, it takes 12 positive experiences to make up for one unresolved negative experience.
This, combined with a slew of other statistics, is enough to warrant your attention toward your efforts to retain existing customers.
6 WAYS TO RETAIN EXISTING CUSTOMERS:
- Call Them / Get Their Feedback: It seems basic, but it’s impactful. This small gesture shows that you’re interested, engaged, and looking for ways to improve (you may already feel this way, this allows you show it.). Ask them if they have any concerns or need anything to make their experience more pleasant. This simple expression of concern will give you insight into the user experience and express to your customers that you feel that they are valuable.
- Create Helpful Content: Create content on your website that addresses their pain points and give them suggestions to make things easier for them. Add value without a cost to them. (This can often be completed through a Blog). People can go anywhere for information. Strive to be their preferred source.
- Promote Your Customers: Think about your customers as part of your family and promote them in kind. Post a flyer in your shop that helps them raise funds, Tweet and thank them for their loyalty, ask to share their experience on Facebook. Who doesn’t like to be appreciated or have a little time in the lime light?
- Email Automation: Studies show that 80% of decision makers prefer to receive information in a series of articles. Therefore, create an email campaign with tips and suggestions on the best way to use your product or ways for them to make due in between their next service with you.
- Say Thank You / Tokens of Appreciation: Send coupons or a small gift (in proportion to the size and spend of your customer) as a Thank You for their continued loyalty. Even more meaningful and impactful is a handwritten note. Think about how you would feel if the owner of a business that you patronize often took the time to write you a thank you note.
- Nurture the Relationship: Make them feel as if their business matters to you. This can take many different forms, and some are noted above. The key here is to be sincere. If you truly value your customers, take the time to let them know!
If you’re looking for a partner to help you with your online presence so that you can keep nurturing your relationship with your customers, reach out to us at Studio Barn Creative, or download your Free E-Book below for immediate tips to help you improve your website this week.