The United States is home to over 28 million small businesses across the nation. In order to thrive in today’s market, it is crucial to know not only how to acquire customers, but also how to keep them. Customers are much more likely to return to your business with routine engagement, appealing advertising, and intriguing incentives from you and your staff. Here are some of the key ways to avoid losing any customers that you obtain.
Create a Loyalty Program
Customers are much more apt to continuously come back to your business if you give them some type of reward system to look forward to. Developing a loyalty program will not only encourage consumers to come back due to accumulating rewards, but any promotional deals that you include in the incentive package will also draw them back in for business. It is estimated that returning customers are likely to spend approximately 67 percent more when compared to new customers, so implementing a loyalty program will undoubtedly result in more profit.
Most loyalty and reward programs can be built and maintained within a reasonable budget, and anything that is spent is usually made back in increased sales. However, if you are worried about a loyalty program being detrimental to your current budget, you could always seek out some extra financial support. Reputable funding companies such as Advanced Funds Network, LLC can help provide you with the necessary funding to develop a long-lasting incentive program for your business.
Keeping Your Customers Involved
Almost any expert that is knowledgeable in small business operations will tell you how important customer engagement is. Making your customers feel appreciated and up-to-date is essential in keeping them around. A popular way to do this is through a subscriber list where customers can provide their email address for updates on general business practices, special offers, and new inventory. Doing this will not only keep an open line of communication with your customers, but it will also give you an avenue to routinely update them on new deals and hot products.
Stay One Step Ahead of Your Competitors
Although the previous tips will help you rise above your competition, there are still a few other ways to consistently stay prevalent in your industry. One of the most productive ways to guarantee customer satisfaction and top-notch service is by setting up a system in which your customers can provide feedback. Reviewing and following through with any suggestions will allow you to always provide a satisfactory experience, enabling you to always stand apart from your competitors.
Observing the practices of your competitors is also key in staying ahead of competitors and preserving clientele. Staying up to date with various trends in your specific industry and evaluating the promotions and features offered by relevant companies will give you a solid idea of what procedures to adapt and which to discontinue.
Always Practice Reliability and Punctuality
Try not to underestimate the power of simple follow-through. Insignificant actions such as returning phone calls and emails in a timely manner, or sticking to your word, actually have the most significant impact on customers. People are much more likely to continue to purchase your products or services when you show dedication and reliability in all that you do. Showing that you have concern for each customer’s individual needs will lead them to feel that the experience is much more personalized, making them more likely to return for the same type of service in the future.
Be Persistent with Advertising
Participating in all of these effective business tactics will not reap the most optimal results unless you continue to get a steady level of exposure. Consistent advertising is not only important in obtaining new customers, but it’s important to show your current customers that you are the same driven and innovative business that you have always been. The year of 2016 brings us many successful platforms to conveniently advertise on for little to no cost to your company.
The traditional graphics and logos used to promote your business are sure to remain productive, but another form of advertising is starting to gain more commercial attention. Both large corporations and small businesses are starting to develop referral systems that reward current customers for recruiting new clientele. This is not only beneficial when it comes to new business, but your current customers will appreciate being rewarded, and potentially stick around much longer.
Over 50 percent of people in our workforce are employed by small businesses, so there is no question of how important they are to our economy. Keeping your customers returning is imperative in succeeding with any type of business, especially ones that are smaller in size. These effective procedures are sure to enhance productivity for your business, and avoid the loss of any current customers as a result.
Sources:
http://www.forbes.com/forbes/welcome/
https://www.americanexpress.com/us/small-business/openforum/articles/5-ways-to-successfully-advertise-on-a-small-budget/
http://www.amanet.org/training/articles/25-Ways-to-Keep-Customers-for-Life.aspx
http://www.callcentrehelper.com/5-ways-to-keep-customer-engagement-up-to-date-33973.htm
http://www.entrepreneur.com/article/233362
http://bigdoor.com/blog/2014/04/03/why-your-business-needs-a-loyalty-program/
