It's a simple business fact that companies obsess over getting new customers. "They advertise, plead, cajole, and bend over backwards to get new customers"1. The only problem is, after they make the sale, they ignore them. Existing customers are the best source of sales growth. In fact, the top 20% of your repeat customers are contributing 80% of your sales. So, how can you shift your focus from constant prospecting towards repeatedly satisfying the customers you already have? Simple. Increase the value of your company.
"Value is what keeps customers loyal to a store, a brand, or a company"2. But how do you determine "value"? It all comes down to customer service. The better you treat your clients, the better they will, in turn, Mecate reins treat your business. Executives often underestimate the power behind a happy customer. Good customers are an excellent marketing resource. Not only will they keep coming back, but also, they will pass your name through the grapevine to everyone they know.
There are several things that businesses can do to increase customer loyalty. The most important thing to remember is that customers expect a positive experience. You are the expert in your field and customers count on you to make their experiences smooth and hassle-free. "Transform your company needs from creating great products and services to creating great experiences"3 for your customers.
Other ways to keep customers coming back are just as easy. Consider creating and maintaining customer profiles. There are several database services that help you to track the type and frequency of customer purchases. Doing this allows you to dissect the buyer's interests and needs so that you can market to those needs. Say, for example, Sally buys the same hairspray from your store every 2 weeks and that hairspray is about to go on sale. You could send Sally a letter informing her that her favorite hair product will be on sale this coming week and you will hold a can for her.
Another way to keep the loyalty of your customers is to give them a sense of membership and belonging. Send them newsletters, invite them to events, and keep them informed. Providing up-to-date information allows your customers to feel like they are an integral part of your business, which they are. You should also allow some way for your customers to provide feedback. This not only gives your customers a sense of importance, but it is also a powerful tracking tool. Customer feedback can help you discover problems or solutions within your business.
Be the company that creates great experiences alongside great products and services. Focus on the satisfaction of all customers regardless of their time with you. By keeping your customers happy, you secure the future success of your business.
Katherine Whittemore is the Director of Public Relations for Primary Media Outdoor Advertising. Visit our website at http://www.primarymedia.com and discover what advertising with us can do for your business.
Works Cited
1. Ameln, Ron. 11 Strategies to Keep Customers Coming Back. Republished by permission of the St. Louis Small Business Monthly. The Source for Business Owners; September 2001. http://www.missouribusiness.net/doc/strategies_customers
2. Gonzalez, Bill. Keep Customers Coming Back. Monday, May 04, 2009. http://community.dynamics.com/blogs/csarticles/archive/2009/05/04/keep-customers-coming-back.aspx
3. Carbone, Lewis. Clued In: How to Keep Customers Coming Back Again and Again. Pearson Education (US)-Prentice Hall. 2004.
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