For many people, a customer loyalty program might only bring sub sandwich shop punch cards to mind. Don’t make the oversight of assuming that customer loyalty programs don’t work in every industry and that you cannot build your own. These programs keep customers coming back. The best part, though, is the fact that clients will return often just to reach new loyalty reward levels.
Create a Customer Loyalty Program
The majority of people only think of sub sandwich punch cards when they hear about customer loyalty programs. The truth is, though, a business owner in just about any industry can easily create their own loyalty program. This will help keep customers returning to your small business. Even better than that, however, is the fact that they will be encouraged to spend more so they can reach their loyalty reward.
Connect with Former Customers
Clients who haven’t made a purchase order in some time aren’t necessarily former customers. In many cases, they simply haven’t been properly motivated to come back in. Research has shown that the chances of an existing customer making a purchase is upwards of 70 percent. Alternatively, the probability of selling to a new prospect is 20 percent at best. Utilize as many ideas as possible to bring back those who have already made a purchase.
Have Better Customer Service Training
Even if they do not provide it, most budding entrepreneurs understand the significance of great customer service. Those who do provide it, though, probably do not understand the full scale of how important it is. Statistics show that buyers are four times as likely to go to the competition if their problem is related to service rather than your product or price. From additional training to responding to negative online reviews, do what you can to offer awesome customer service.
Keeping customers satisfied is necessary for making a thriving business. Luckily, customer retention is not an exercise targeted solely on keeping people around. If done right, you will hold onto loyal customers while consistently increasing revenue.
