Offer Added Value
In recent years, small businesses have shifted their focus to customer retention to grow their business, with good reason. Studies show that an increase in customer retention as small as 5% can increase profits by 25% or more.
In our last post, we provided tips on how to effectively connect and engage your customers. Once you’ve opened that line of communication with customers, you need to provide added value to keep them coming back. Repeat customers who are happy with your services are more likely to refer others to your business through word-of-mouth, social media, and online reviews.
Here are three ways to offer added value to your existing customers and keep them coming back:
Customers are overwhelmed constantly with mass emails, automated phone messages, and blanket social media posts. Many of these messages get overlooked because they don’t contain information specific to the customer. Offer something special to customers by sending tailored communications to customer groups using specific filters. Send special promotions to VIP customers, reminders to those you haven’t seen in a while, and flash sales to customers close by.
Connecting to your customer on a personal level will allow your business to stand out in the steady stream of generic communications.
Engage more often
Connect with your customers consistently, but don’t overwhelm them with only one kind of message. Stop communicating with customers only when you’re trying to sell something. Provide added value and increase interest by sending varied types of communication. You already know that your customer is valuable to your business, but show that your business is valuable to the customer as well, by offering a mix of educational, informational, and promotional communications relevant to their needs and interests.
Share your expertise with customers, introduce them to new products, and give useful tips. Doing this regularly will keep your business in your customers’ minds, and show that you are there to help.
It’s not enough to offer outstanding products and services, you must be available to answer questions when customer experience issues. Busy customers want quick and efficient customer service. Allow customers to contact you easily, ask them what they think about your business, and provide prompt assistance to their questions.
Building a reputation with your customers by the support services you provide will increase the likelihood that customers will return, and spread the word about your business to others.
Stay tuned for the next part in the series, as we offer tips utilizing technology for customer retention.