When it comes to keeping customers happy, do you know exactly what it is that they want? Sure, they all want good prices and the best service possible, but when they can get that from literally hundreds of other businesses similar to yours, what will make you stand out head and shoulders to the rest and keep them returning time and time again?
The probability of selling to an existing customer is 60-70% while selling to a new one is as low as 5-20%. While it pats to attract new customers, it will be more beneficial to focus on those that have already made a purchase.
So what can you do to keep their business and ensure you improve customer retention?
Good Customer Service
Customer service is the be-all and end-all when it comes to retaining customers. It doesn't matter how amazing your products or services are; if you aren't backing them up with excellent customer service, be it virtually or in person, then they will simply walk away and find someone who can fill their needs. Everyone needs to be on the same page regarding the customer journey and their role in making it work for the customer and giving them the best experience possible.
A thank you email after the purchase isn't always something that is needed and wanted; you can, after all, do this at the point of sale or with purchase confirmation. To entice people back to spend more with you, you need to be reeling them in with something they want. Loyalty schemes are the best way to do this. What you offer and how you offer it can be different; you only need to look at the power the Tesco Clubcard now has in the retail market to see how beneficial this can be, but it needs to work for your business. If you are unaware of how best to implement this type of offer, loyalty consulting can help you learn more about your customers and what they need to develop the right loyalty scheme for you.
Fill A Need
You need to fill a need people didn't know they had before they knew they needed it. Vague? Sure, but this can be done within any business by analysing customer habits and looking at the data they provide you with. Are they booking certain items on your website but not purchasing? What do they purchase instead, and what is that specific demographic interested in? The actual result of what you offer will be unique to your business and your customer needs. Still, by looking at all the data you hold, you can delve into different areas or products that other companies are selling to help you meet your customers' needs and ensure they come back to you repeatedly.
Making those repeat sales should be your top priority in business. Taking care of your customers will do more for your bottom line than spending huge amounts to attract new customers and neglecting those already there. Improve your customer service, provide excellent products and services, and do what you can to ensure you hit a second, third or 50th sale.
Author - chris
Author, Editor, Creator of this website.