As business owners, you’ll likely agree that it is easier to keep a current customer than it is to acquire a new one. Yet despite our knowledge of this, all too often, business owners obsess over acquiring new customers to the point where they forget to apply strategies designed to keep their existing customers loyal to their business.
A lot of entrepreneurs do not realise how incredibly vital customer loyalty is. Even research backs this up showing that loyal customers are worth ten times the value of their first purchase. And according to Harvard Business School, if customer retention rates are increased by five percent, profits will escalate by 25 to 95 percent! This shows the necessity to keep your customers loyal to your business. When you have loyal customers at your disposal, you can downsize your marketing budget and channel your funds to other areas such as improving your product or service.
If you are looking for strategies to keep your customers loyal, you need implement the following strategies:
Setting up various means to communicate with your customers and doing it regularly will make it impossible for them to forget you. It’s also easier for you to disseminate important news and information about your business. As a business owner, you should make it a priority to grow your database. Set it up and fill it with contact details of all your customers including their names, birthdays, mailing addresses, email addresses and their phone numbers. That way, you can send them monthly newsletters and personalised emails on their birthdays and so on.
Another great avenue to communicate with your customers is through social media. Instead of focusing on advertisements and promotions, take the time to ask them how they are and how they are enjoying your product or service. They will really appreciate your efforts in making them feel valued and in effect, their appreciation will come in the form of loyalty especially if they already love your product and service to begin with.
What makes a customer valuable is when they show loyalty to your business. And what better way to show them your appreciation than to offer them promotions and sale packages exclusive to VIP customers? You can also offer other perks by offering them a loyalty card where they can get a freebie after a certain number of purchases, being able to skip long lines and many more. Giving them this special treatment will only strengthen their loyalty to you.
Treat your customers as your friends. In every transaction, don’t think of them as people who give you money and in exchange you give them your product or service. Every time a customer comes to you, both current and new, treat them in a way that they will remember you because if you fail to establish rapport with them, they will not find any reason to do business with you in the future. To gain their loyalty, gain their trust by being their friend.
If you are currently looking for a business that has the potential to make you successful, then HydroKleen is a great franchise opportunity for you. We promise you that we have a successful business model with proven systems in place. We also treat our franchise partners as family because we believe that their success is our success as well.
We also share strategies with our franchise partners on how to keep customers loyal. Our business model is built to create success for you so if you’re asking if it’s a sound investment, ask our franchise partners and they will tell you the truth about us.