How does one create Tupperware – a brand of containers which legions of mums will defend to their death? Why do people continue to buy from Starbucks, when they could get the same cup of coffee at half the price elsewhere?
The magic ingredient is customer retention.
Why is customer retention important to my small business?
No one goes into business expecting to make one sale from ten thousand people – but rather ten sales from one thousand people.
Loyal customers may start off feeling like nothing more than extra revenue, and perhaps an indication that there are people who successfully resonate with what you’re offering.
But look further down the line – you’ll see that having customers who are loyal to your brand will help further expand your brand name through word of mouth, ultimately turning your business into a powerhouse.
How do I increase customer retention?
- Offer something uniquely different
If you’ve already got a small business running, chances are you probably already know your unique selling proposition (USP).
From there, it then becomes a matter of presenting your USP in a way that will resonate with people.
One good way is to make sure the newsletters and social media content you’re putting out are specifically tailored with their interests in mind. Newsletters especially are a fantastic way to highly personalise your message.
- Prioritise the customer experience
Don’t think of your customers in KPIs or sales. Think of them as people who are supporting your passion and who need your help. With that in mind, you’ll want to give them the best customer experience possible.
If you’re in e-commerce, that may mean absorbing a little bit of extra cost to repackage items with extra bubble wrap and a sweet thank you note. It could also mean responding to all enquiries within an hour (at maximum).
- Show them you’re grateful
Be it reward points, cashback or special promotions mailed to their inbox – make your customers feel appreciated.
Take the extra mile to message them personally when a mess-up occurs, and offer compensation where necessary.
There’s a lot to worry about when it comes to marketing, but good thing you can take that burden off your shoulders by outsourcing your content marketing to us! Email us at [email protected] to know more.