One of the most overlooked aspects about doing business is that it’s cheaper to sell to current and old clients than it is to find new ones. Customer retention is often superseded by marketing for new clients, but it’s an opportunity missed by many new business owners.
The reality is that if you are spending your entire marketing budget on finding new customers, you are spending more to win each customer, which eventually eats into your bottom line. With this in mind, today, we’re going to show how to keep your audience engaged and loyal. Let’s take a closer look at everything you need to know.
Employee training
If you want to encourage people to continue using you as a business, you must equip your employees with the tools and knowledge needed – it’s a company culture thing. Staff have to sell and describe your products and services, and and they must be comfortable talking with customers of all kinds, and know what’s going on in your industry, including trends, news, and developments. As a small business you have to give them a solid reason to keep coming back, and well-trained customer service employees will be essential.
Cross selling and omnichannel sales
Given we do not live in a one-size-fits-all world, especially when it comes to meeting each individual customer’s needs, it’s something you need to address with your business offering, whether you are online, offline, or have sales reps in the field. Ultimately, if you don’t deliver the unique combinations of products and services needed by your customers, your competitors will. Something similar to Netsuite CPQ will help you accurately define the price of goods automatically based on an ever-changing spectrum of variables and quickly and accurately generate quotes for orders. If you have a sales team, they will be able to present an individual quote faster, meaning they can then pursue the sale. And ultimately, you will find that customers are happier – and more likely to do business with you again.
Divide and conquer
A lot of new businesses start with the intention of trying to appeal to everyone. But attempting this will ultimately result in bland, uncompelling messaging that bores the pants off everyone – and certainly doesn’t encourage customer loyalty. It’s important to go against the grain and try something different. Sure, you will alienate a sizeable part of the market, but the customers that stick with you will provide you with a much stronger foundation for success – they will become your tribe. The likes of Brewdog do this with great effect in their marketing campaigns, and although their particular style isn’t suitable for all industries, there are ways to push the boundaries in every sector.
It’s critical to remember that loyal customers will form the foundation of your business and without them, it can be a tough challenge to do anything with your business. If you want to increase your market share and achieve your business goals, building good customer retention strategies is the wise move to take.
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