Tips for Attracting Repeat Customers for Your Business
It is estimated that 20% of a company’s current customers make up 80% of the sales. And according to a study by the Harvard Business School, “increasing customer retention rates by 5% increases profits by 25% to 95%.” So it stands to reason that the main focus of any business should be customer retention. Here are a few tips to help increase customer loyalty to your company.
It cannot be emphasised enough how important customer service is when it comes to retaining loyal customers. By providing excellent service, you put your company in their mind the next time they need a product or service. Some key practices are to actively listen, anticipate their needs, address their concerns, and genuinely try to help. All of these things will help your customer to feel valued and satisfied.
Respect their time
We are all very busy in life and want to feel like our time is valued. Make sure to keep your appointments and give plenty of notice if you need to reschedule. On the phone, one minute on hold feels like five minutes, so be sure to check back in every couple of minutes and let them know what’s going on. If in person, ask them for permission to have them wait. All of these practices will help your customer feel like their time is valued when they do business with your company.
Build a relationship
Building a rapport with your customers is crucial. It starts with being friendly and filling what would normally be awkward silences with questions about them. Some friendly topics are occupation, family and recreation. By showing an interest in them as people, they will remember the experience as a positive one and are more likely to return to you.
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