In today’s world of seemingly endless options, maintaining customer loyalty can be tricky. There’s a lot of competition out there and having a loyal customer base is vital. “…it costs five times more to acquire a new customer than it takes to retain a current customer,” explains Steve Olenski, contributor to Forbes.com. “However, sadly more companies concentrate on customer acquisition than on customer retention.”
By minding how you treat current customers, you can set yourself up for continued success. Olenski shares six ways you can keep customers coming back, including:
Make them feel like royalty.
Do this by ensuring the entire customer experience is excellent. Handwritten notes, catch-up calls and other communiques keep you top of mind AND show you care. Take the time to find out how your customers are using your product or service. Learn more about their experiences and how they can be improved. But, Olenski warns, do not use these interactions to sell. “There is no law, as far as I know that states every single branded communication with a customer must contain sales language,” he writes.
Give them something to come back for.
Think of little perks that you can pass on to your customers, such as discounts, extra insights, or anything else they may find relevant. Be strategic and plan these perks to maximize their utility.
Don’t rest on your laurels.
Always keep things fresh for customers and avoid complacency. “Customers get bored of seeing the same thing,” he writes. “They want something new to keep them interested.” Stay on top of the latest trends and technology. Integrate it into your products and services.
You can boost the value of your relationships by integrating these tips into your strategy. The more valuable you are to customers, the more likely they will remain loyal. As Olenski points out, “The secret lies in making your customers happy.”