How & Why to Keep Customers Loyal – Summary
Loyal customers buy more! In many businesses 80% of sales come from just 20% of customers.
A customer for life is someone who will always buy from you whenever possible, and will tell their friends about your business!
It costs five times more to win a new customer than keep an old one.
The best way to keep customers loyal is to provide a good product or service that provides good value for money.
Be polite and friendly to customers. Build up a comfortable working relationship. The ability to have personal customer relationships is one of the biggest advantages small businesses have in the marketplace.
Solve complaints quickly and customers will have much more trust in you, leading to increased loyalty. Ignore or fail to solve complaints and loyalty will suffer.
Discounts and ‘introduce a friend’ offers attract customers to return, and encourage the development of loyalty.
Loyalty schemes can be expensive, but can provide detailed information on customers buying habits.
Communicate with your customers. Don’t pester them or make them feel you are pushing them for sales, but wish them Merry Christmas, ask them if they are satisfied with your products and what you can do to help. Genu ine interest in their satisfaction will help make customers feel valued and therefore more loyal.
Days out can be expensive, but provide a great opportunity to increase loyalty and develop improved personal relationships with your best customers.
Branding alone will not make customers loyal, but back up a good product and customer service with branding and loyalty will develop quicker.
Offers and loyalty schemes can increase loyalty, but they are no substitute for (and will not work without) a good product, good customer service, and friendly customer relationships.
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