Customer loyalty is important – everyone know this. What we are noticing, however, is that many small business owners are undervaluing its true prominence in determining future success. First time customers are great and getting people in the door for the first time is half the battle – but how do you get these customers to return time and time again? They key is a comprehensive customer retention strategy. We get it, it’s easier said than done and that’s why the Trezoro team has come up with a simple 5-step plan to get your business on the route to customer loyalty.
- Internal Audit: Start by taking a look at your own business and be sure that everything is running smoothly internally. What’s our work environment like? Are staff members enthusiastic about their work? Are our day-to-day processes well thought out and efficient? These questions are just a sample of many that business owners should be considering. You can’t expect customers to be confident in your business until you yourself are confident. In other words, its important to make sure the behind the scenes portion is perfected so you can put your best foot forward when interacting with customers.
- Implement a loyalty scheme: Rewarding return patrons will give customers a tangible reason to come back to your store. Attaining new customers is a lot more expensive than retaining your current ones. It will also lead to increased customer profitability and lower account maintenance cost. You can achieve this by compensating existing customers with deals, discounts and freebees to incentivize return business.
- Involve your staff: A company’s staff has the potential to be its greatest asset, so it’s important for business owners to keep their employees in the loop. Its likely that they are the primary form of communication with customers, so making them aware of the objectives and benefit of the loyalty scheme will help them pass this information on. Plus, an informed staff member is likely to deliver better customer service, another crucial component of customer loyalty.
- Use your data: For businesses, the best part of loyalty schemes is the customer data that is provided as a result of its usage. This data can gives companies insights on their customers and helps analyze buying behaviors and consumer preferences. In this respect, businesses have the ability to target their promotional efforts effectively. Rather than using mass marketing, consider sending only relevant offers to customers. This will foster stronger business to consumer relationships and make your customers feel valued and understood.
- Meet Expectations: Even with a perfect loyalty scheme, if the product or service you are selling doesn’t live up to its expectations it is likely that customers won’t return. With that being said, businesses should avoid making promises they cant keep. Focus on delivering consistent quality to customers to foster a trusting relationship and keep them coming back for more.