If you want a successful online business these days, it’s not enough to simply close the sale. You’ve got to help your customers fall in love with your business.
In fact, 81% of companies who provide great customer experiences and customer satisfaction do much better than their competitors, according to the 2009 “Customer Experience Maturity Monitor” report from the Peppers & Rogers Group.
Smart business owners know that every customer relationship lost, either to a competitor or otherwise, costs them an average of $289 each year.
And if you’re thinking you can just make up for that cost with new customers, think again. Turns out, it costs six to seven times more to acquire a new customer than it does to retain an existing one.
If you’re ready to help your customers fall in love with your business, then read on for the ways to do just that.
1. Recognize the Value of Word of Mouth Marketing.
Great word of mouth (WOM) is a priceless asset for any small business, and word of mouth marketing (WOMM) is hands-down the most effective and reliable type of marketing.
You know how the things you pay a lot of attention to and value most of all tend to increase in value? I’ve found that principle applies just as much to business as to the rest of life.
In my experience, when I really focus on and value the things that positive word of mouth does for my brand — either this blog or any of the successful businesses I’ve co-founded — that word-of-mouth buzz tends to increase.
So what exactly is word of mouth? How does it increase customer loyalty? And what does it have to do with making your customers fall in love with you?
Identifying your influencers and coming up with a story that is interesting, relevant and authentic that ladders back to qualities of your brand and then sharing that story as much as possible.
This is why you need to embrace WOM right now, place it in the center of your overall marketing strategy, and work hard to increase it.
How do you do that? Simple: make your customers fall in love with you. Happy and satisfied customers are much more likely to sing your brand’s praises to their family and friends, and will have a stronger brand loyalty.
Building a loyalty program designed to create raving fans is like drafting your best customers into a miniature marketing army — an army made up of devoted brand ambassadors who happily work around-the clock to get you more customers.