Most start-ups and small businesses focus on marketing or expansion. Successful entrepreneurs, however, know that continuous business growth is only achieved through a loyal customer base. Giving attention to your existing clientele, irrespective of how small they are, is important for business survival. Here are simple ways to improve your customer retention rate.
Keep Your Customers Informed
Let them know about the changes and improvements you are doing for them. These updates can be relayed by sending newsletters to customer emails or making phone calls. Whatever method you go with, the goal is to make them realize your efforts in making changes to improve the product or service they get.
Make It Personal
The message shouldn’t look like it’s been mass produced along with other identical cards you’ve sent to hundreds of other customers. Voice mail and email make it effortless to converse, yet the personal touch is lost. Make regular calls and maintain clear lines of communication. Show them you are approachable during times of need or inquiry.
Have What They Need
It’s easy to lose customers because you lack a service or product. Remember, customers can always go to another store or business if they don’t see what they are looking for in your business. Aside from products, make sure you also accept all or most of the payment methods used by customers.
Have a merchant account and a secure credit card processing system for debit and credit card payments. Merchant accounts and credit card processing have become staples for businesses of all kinds over the last decade. Customers have gradually switched from paper payments to paperless forms like debit and credit card for their purchases.
Give Them Incentive
Customers remember where they saved a dollar or two from their past purchases. They tend to use that same provider whenever similar needs recur. If you give your customers reasonable discounts, they will most likely be loyal to your brand. It doesn’t have to be huge cutbacks. A few cents can surely get their attention.
Regularly teach your staff how to properly communicate with customers. An improper greeting or a slacking attitude can quickly repel customers. Your staff should also be helpful, meaning they should know all the products or services your business offers. An incompetent staff can deliver wrong details, which could form the wrong basis for the consumer’s purchasing decision.