Customer loyalty is critical if you’re running a business, whether it’s a small mom-and-pop shop or a multinational corporation. Attracting and retaining customers can be difficult, but you can keep them coming back for more with the right strategies in place.
What is the difference between repeat and new customers?
A repeat customer is someone who has purchased from you before. They may not buy from you regularly, but they have made at least one purchase in the past. On the other hand, a new customer is someone who has never purchased from you before.
Why is it important to keep your customers coming back?
There are a few reasons why customer loyalty is essential:
- First, it’s cheaper to keep existing customers than find new ones. It costs five times more to attract a new customer than it does to keep an existing one, according to Invesp.
- Second, loyal customers are more valuable. They tend to spend more money and are more likely to refer others to your business.
- Finally, repeat customers are essential for businesses that rely on recurring revenue, such as subscription-based companies or household and industrial items like spray foam insulation, cleaning agents, detergents, and more. Your business will quickly dwindle if you cannot keep your customers coming back.
In addition, repeat customers are typically more valuable than new ones. They’re not only more likely to spend more money with you, but they’re also less likely to shop around and compare prices. Finally, repeat customers can help generate word-of-mouth marketing, which is one of the most potent forms of marketing.
So how do you keep your customers coming back? Here are seven strategies you can use:
Offer excellent customer service
This one’s a no-brainer, but it’s worth repeating. Excellent customer service is the foundation of any good business, and it’s something that customers remember and appreciate. If you go above and beyond to help your customers, they’ll be more likely to stick around.
Here are some tips to offer excellent customer service:
- Be responsive to customer inquiries, whether they’re submitted online or over the phone.
- Train your employees to be friendly and helpful.
- Make it easy for customers to get in touch with you.
- Handle complaints quickly and efficiently.
Offer discounts and coupons
Discounts and coupons are a great way to show your customers that you appreciate their business. When they feel like they’re getting a good deal, they’re more likely to return for more. You can offer discounts in a variety of ways, such as:
- Sending coupons in your customers’ orders
- Offering a discount code to use on future orders
- Running a sale or promotion
Stay in touch
Staying in touch with your customers is a great way to keep them informed about your latest products, services, and promotions. You can keep in touch by sending emails, text messages, or postcards. Just make sure you’re not sending too many messages, or you run the risk of annoying your customers.
Here’s how to stay in touch without being too intrusive:
- Send a monthly email newsletter
- Send text messages for sales and promotions
- Postcards for special occasions
Make it personal
Personalization can go a long way in making your customers feel valued. When you take the time to get to know your customers and their preferences, they’ll feel like you care about them. You can personalize your interactions in a variety of ways, such as:
- Asking customers about their preferences
- Recommending products or services based on customer history
- Sending birthday or holiday greetings
If you want to build customer loyalty, you need to be consistent in your approach. Your branding, pricing, and product offerings should be consistent across all channels. This will help create a sense of familiarity for your customers, making them more likely to come back.
How to be consistent? Here’s how:
- Develop brand guidelines for your business
- Be intentional about pricing strategy
- Ensure product quality across all channels
Let your client know they are appreciated by doing something extra such as providing them with a discount, giving their order priority during an event, or even throwing in some freebies. This will ensure that word gets around, and more people want what you have to offer!
You can show appreciation in several ways, such as:
- Sending a thank-you note
- Giving a gift
- Offering a loyalty program
Last but not least, don’t forget to get feedback from your customers. This is a great way to find out what’s working well and needs improvement. You can collect feedback in a variety of ways, such as:
- Sending customer satisfaction surveys
- Asking for reviews and testimonials
- Listening to customer feedback on social media
Every business owner faces customer retention challenges. Some put a lot of effort into customer acquisition that they pay less attention to repeat buyers. But by following these seven tips, you can build customer loyalty and keep your customers coming back for more.