Acquiring new customers is definitely important for a healthy business model, but it is pointless without customer retention. Figuring out ways to keep your customers satisfied beyond the first purchase will inevitably give you higher profits, which is something everybody wants. But how do you address these customers in a way that will hold their interest?
Ask for Feedback
Business owners who listen to their customers’ feedback are more likely to make changes that will make loyal customers happy. There are several ways you can get feedback. Some people prefer to rely on online review websites. This provides an organized assessment of your business that you can respond to. Ask for feedback in person as well. You can even offer special deals for people who share their experience.
If you notice a particular request from multiple customers, make it a priority. When you inevitably see angry customers, respond in a polite and accommodating way. This shows willingness to improve not only to the reviewer, but to other customers doing research on the review site.
Start a Rewards Program
Developing a rewards program can be another fun way to show your customers that you appreciate them. Depending on your industry, you can decide what special deals are appropriate for returning customers. Restaurants often have punch cards or point systems that give you something for free. Other businesses give discounts. Make sure you have an effective way to measure the customer’s points. An integrated e-commerce and POS system can keep track of rewards points and loyalty programs. People will be less likely to game the system this way.
Continue to Innovate
Unless you don’t intend for your business to grow too much, you should focus a significant amount of your time innovating. Creativity in new products is what puts you ahead of the competition. If you don’t adapt to new circumstances, your business will have a hard time keeping the customer’s attention.
While it can be difficult, it’s important to be innovative in what you do with your business. If product innovation is proving too much to handle at any point, find other ways to innovate and get your name out there. Advertise in a different way or streamline the customer’s experience by adding technological features. You might even change things up with your staff. Remember, innovating is a key to success.
By choosing to actively change the way your business handles customers, you will keep your loyal patrons and find new ones. Show your customers you care by asking for their feedback, rewarding their loyalty, and innovating throughout your business. Creative ruts are fairly common, but don’t let them get your business down. You can always find new ways to be successful in your field.
If you’re striving to improve your business, you may benefit from a fresh perspective. Contact us to see how our coaching services can be of benefit to you.