Brand Loyalty: How Do You Retain Existing Customers?
The accessibility of always reaching a larger audience through online means is one of the numerous technical wonders of digital marketing. Instead of being limited to your local demographic, you can find patrons who fit your buyer's persona across state borders or even beyond international waters. However, this dependence on customer acquisition strategies doesn't always yield long-term positive effects. Without a proper retention model, all you'll have is a slew of one-time purchases and little to no consistency for growth.
Retaining Your Current Customers
While acquiring new customers is necessary for scaling your business, it will be difficult to achieve without a solid foundation. This foundation needs to be a reliable set of current customers maintained through a successful retention model.
In this article, we'll share three ways you can retain your current customers.
1) Maintain a Solid Customer Service
It's not uncommon for establishments' customer service to fall off after the initial transaction with a client. This is a sign of poor management and prioritization on the side of the business owner. While it's not your intention to appear ineffective or unresponsive, focusing on customer acquisition strategies can make you lose your current customer base.
Ensure to respond quickly to customer requests on any platform, whether it's through social media or email correspondence. Remember to combine automated messaging and a well-trained customer helpdesk to attend to their customers punctually. If you're experiencing common queries, it may be best to update your FAQs page to help your customers find solutions to some common concerns without having to go through the process of contacting you.
2) Craft a Compelling Loyalty Program
Loyalty programs allow your existing customers to look forward to using your service by gaining perks for their consistency. These marketing ploys make subscriptions and loyalty cards an effective way to maintain a steady stream of income.
An effective loyalty program should include a straightforward points system your customers can easily understand. The simpler your loyalty program is, the easier it will be to sell to your customers. Remember that the main goal is to reward customers for simple acts like subscribing to your newsletter, buying a product, or referring your services to a friend. These actions should reward them with discounts, in-store credits, or gift cards. With a carefully crafted loyalty program, you can maintain a steady stream of income while fostering deeper relationships with your consumers.
3) Show Your Appreciation
Maintaining the relationship between customer and service provider requires consistent communication, like any relationship. This is why you must utilize your communication channels to remind them of your service. During relevant milestones in your business or their subscription to your service, send positive messages encouraging them to rekindle their participation in your service.
Offering tailored discounts during these moments is an excellent way to make your customers feel noticed and appreciated for their commitment to sticking to your brand. A simple thanks can go a long way to maintaining a solid dedication to your brand.
The core strategy in retaining customers is to be a company that listens to them. If you address your existing customers' concerns and hear their suggestions, they'll be more willing to trust you. Through understanding their experience of using your service, you'll have a better chance of interpreting what they want. Unfortunately, not all business owners can translate customer comments into effective retention models. This is why business coaching services can help.
Overcoming the obstacles of being a company can be a difficult challenge, especially if you face them by yourself. At Four Tree Coaching, we support business owners with business coaching services in Alberta to help their entrepreneurship thrive. Contact our team for a complimentary consultation with our expert business advisors today!