Monday 28 July, 2014

Customer Retention – How to Keep Your Customers Buying from You

It’s much easier and more cost effective to keep the customers you currently have than to go out and get new ones. In addition, this is how most businesses grow, not through new customer acquisition. A major part of your marketing plan should be a strategy to retain your current customers. Here are some tips on keeping them buying from you.

Strong Values

Your brand should have strong values that you communicate clearly to your customer base. People don’t choose brands based solely on prices and products alone. A major part of brand loyalty is the feeling that the brands you buy from share your core values. People want the brands they like to share the same view of the world. What do you stand for and how does it resonate with your customers?

Getting to Know You

Get to know your customers well. Connect with them everywhere you can, both online and off. Keep the lines of communication open. Relate to them as real individual human beings. Not only will you create a strong bond with them through these interactions, you’ll also learn in an organic way about their tastes and needs.

Offer Rewards

Thank your repeat customers profusely but don’t just do it with words. Offer customer loyalty programs, add-ons, discounts, special prizes, bonuses, exclusive content and whatever else you can to those who keep buying from you. Give as much as you can as a way of saying thanks.

Boost Your Customer Service

One of the main reason people stay with the brands they like is good customer service. If you bend over backwards to make sure your customers are happy, they’ll stay with you rather than buying from someone else, even if the other brand has lower prices or a wider range of products.

Study Your Competitors

Stay abreast with what your competitors are doing. Make sure they aren’t up to something that could steal your customers away. Identify potential threats from competitors before they become real threats and counteract them. You can also learn from your competitors new ways to offer unique value to your customers. Try to fill in the gaps and offer what they don’t.

Don’t Get Complacent

A huge customer-costing mistake many companies make is that they think the inherent value of their products and services will naturally keep their customers buying from them. This is rarely the case, no matter how stellar your offering is. This is why even the most famous brands have solid plans for retaining current customers.

When you’re drawing up your marketing plan, make sure that it includes not only strategies for customer acquisition, but also for keeping the customers you already have.

Bob Steele

Bob Steele is an entrepreneur, software developer, marketer, and author living in the Denver metropolitan area. He’s an avid outdoorsman who loves skiing, hiking, fishing, boating, and just plain having fun. His interests include games, space, technology, physics, cooking (well eating actually), economics, business, internationalism, and team sports. With over thirty years of professional consulting experience, Bob has been exposed to many diverse business models and has gained a sensible approach to life. Bob’s company, WaveCentric is focused on commerce, marketing, and entertainment related products.

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