Ensuring that your customers are satisfied and eager to return is the lifeblood of a growing business. Providing a quality product or service that exceeds expectations is only the beginning. Turning first-time customers into repeat patrons these days is very important and one must strategize well.
Here are some strategies that can help you keep your existing customers satisfied and coming back:
- Embrace Customer Feedback
It’s essential to establish tools and practices that encourage customers to provide continuous feedback. A way to do this is to set up easy lines of communication online and ensure that you respond to customers’ complaints and request quickly.
Creating online surveys can be a powerful and inexpensive tool to gain feedback on a new product or service. And your customers will appreciate the opportunity to communicate how they feel directly
With surveys, it’s wise to let customers post anonymously, which ensures they will provide honest answers. It’s that honest level of feedback that will ultimately help you improve your business and customer retention. And speaking of social media, it’s essential to keep tabs on what’s being said about your company on the major sites.
- Respond Quickly
Seeking out and monitoring customer feedback is only part of the customer retention equation. To close the loop on this effectively, you have to make it a priority to respond on a timely basis, even if it’s just to inform them that you’re working on their request. The goal is to make sure customers feel their concerns are being taken seriously. It also pays to be proactive. Set up a regular schedule to work with.
- Reward Loyalty
A customer loyalty program is another tried and true way of increasing customer retention. Something as simple as discounts earned through points accumulated from previous purchases will come to appreciate and factor into their purchasing decisions.
And, let’s be honest, such programs are increasingly expected by customers. A loyalty program will pay off in the end, because studies show it can cost five times more to acquire a new customer than to retain an existing one.
- Offer Flexible Payment Options
Convenience, whether in the form of delivery options, product returns and exchanges, or customization, gives customers more reasons to stick with your business. The same principle applies to payment options.
Technology has led to many innovations in how we access our funds and pay for goods and services. Offering flexible payment options can make the difference between landing a customer and seeing them go elsewhere.
Credit: Eddie Davis
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