As a business owner, you are constantly looking for ways to improve the efficiency and profit of your business. You can do this in one of two ways: either reduce money going out or increase your money coming in. The best way to increase profit is to increase product sales. This can be done by turning first-time visitors, into returning customers. Here are the best methods to increase your loyal customer margin.
Optimum Customer Experience
When a customer is purchasing from your business, they are purchasing the product and the entire buying experience. Whether that be from walking through your shop door to leaving with the item in hand or clicking on your website, to the item arriving at their door and everything in-between, it is crucial to ensure that they return. Providing an efficient and accurate service is key to making sure that every aspect of their experience is positive. The only way to do this is to analyze the current experience you are offering and see where it could be improved.
You don’t want any part of your operation to be a weak link. For example: if you were a call business you would want an efficient technology like Ringba Call Analytics in place. If your business works from just an online website, you would want your chosen network provider to be quick and reliable. Everything that you use to help your business is part of your brand and contributes to your customer’s experience with you. If that experience is both memorable and rewarding, people will be driving (or clicking) past the competition to come to you.
Connect With Customers
Social media is a great tool for marketing and connecting on a personal level with your customers. Taking the time to cater o the customer experience and to the needs of each customer, can be cost-effective in the long run. Having someone that responds to customer reviews, complaints, and questions quickly will show that you value your customers.
Since social media is the 21st-century version of word-of-mouth, your efficiency and care will be noted by potential customers. It will also ensure that your positive reviews are in one place for you to track what people are saying about your service. Personally thanking your clients for their praise shows that you are acknowledging their feedback and increasing the dialogue between customers and your business.
Reward Scheme
When it comes to attracting loyalty, it’s good to reward customers for their return purchases. This reward could come in a variety of forms. Many retailers, such as coffee shops, offer a points-based system, whereby you earn so many points depending on how much you spend. The points are typically worth a fraction of the ‘cost’ of earning them, but by repeatedly using your services, customers can cash in on that loyalty and save money on future purchases.
The main theme here is money in your customers’ pockets. You don’t have to slash your prices in half and cripple your business model, but offering tangible savings to repeat customers is a surefire way of keeping them coming back for more.
Monthly Newsletter
This is an excellent way to keep customers updated with new and exciting business ventures as well as providing them with industry-specific tips and tricks. By providing them with more information that will help them in the long run, they are going to remember you as someone who has their best interest at heart. If you’re looking out for them, they will look out for you. The fact that you give your customers more than just a product or service will add to that caring and supportive brand you’ve been building.
You can also let your customers know in your newsletter that you heard their complaints or suggestions and are making changes to benefit them, or are streamlining your process. Any information that lets customers know you’re putting their needs first will highlight what your business is all about: your customer.
Member Exclusive Events and Deals
Advertising exclusive member discounts or product launches on social media and your website is a great way to keep your customers loyal. Loyalty can be earned or it can be bought. By offering events or deals that will directly benefit your customers, you increase the likelihood of those customers sticking with you. Knowing and understanding your customers’ needs and catering your service and offers to them will show that you care about them more than the contents of their wallets. Events also give your customers an opportunity to meet your whole team and get to know your staff. This humanizes your business and allows for a more personal connection between you and your clients.
When it comes to keeping customers coming back, always bear in mind the one question that your customers will be asking themselves: what’s in it for me? The answer you can help them come to, is that if they stay with you, they get to save money and be party to information and advice not available elsewhere. Who’s going to say no to that? If you can provide something that will benefit your clients, they will return time and time again.
By following these tips, you should be taking a positive step towards keeping your customers happy and ensuring that your business continues to grow.
