Charm New Customers and Retain Them
Much has been written about the cost and the difficulty of acquiring new customers, and all of that literature contains some basic truths of business. That’s why it’s so important to do everything possible in the way of customer retention, and to encourage loyalty among customers you already have.
Here are some ways you can go about doing this.
Evaluate what your customers like about you
You should periodically review your customer list and determine exactly what it is that those customers like about your business. Maybe it’s the products and services, or maybe it’s your outstanding customer service. Whatever it is, those are the points which need to be emphasized to existing customers, and to any new customers you attempt to bring in.
Maximize use of social media
Building social relationships is a critical part of customer retention, both for maintaining your existing customer base and for acquiring new customers. It’s crucial for you to provide opportunities for your target audience to connect with your brand and to receive regular reminders of your brand’s core values, as well as your products and services. There are a number of activities that you can organize and participate in on the social media, which will increase your visibility with your target audience, and these should all be used to the greatest extent possible.
Create new products and services
While there is much to be said about emphasizing those products and services which are already much appreciated by your customer base, you should also strive to create new products and services when possible. This is especially true when you’re trying to compete with rivals in your industry, so that you can be seen as a leader in the marketplace. It’s even worth your while to take out a short-term business loan to try to improve your customer retention, by developing new products and services.
Having trouble with customer retention?
If your business is having difficulties with customer retention, you may just need additional working capital to improve your customer retention program. Contact us at Commercial Capital Lending to discuss some alternatives for financing that may be of great benefit to your small business.