It’s a common mistake among small businesses to focus attention on attracting new customers at the expense of nurturing the ones it already has. Both types of customers are vital to the ongoing success of a company. Below are some proven customer retention tips to help current customers keep coming back.
Reach Out Regularly
No one likes to think that a business saw them only as a sales quota. Unfortunately, that can happen when a company makes a sale and then never contacts the customer again. This is one of the easiest ways to damage customer retention rates. A better idea is to engage in follow-up communication with the customer via special promotions, invitations to social media networks, and regular updates through postal mail or email. It’s also important not to overdo it and annoy the customer, so finding balance is key.
Engage in Corporate Social Responsibility
People feel good about doing business with companies that support issues they care about the most. An organization that regularly encourages its employees to complete community service or makes donations to worthwhile charitable organizations will attract the attention of existing customers. Another possibility is to donate a certain percentage of sales.
Ask for Feedback
It can make a great impression on customers when businesses ask for their opinions and then act on the information provided to them. While everyone likes to feel heard, businesses also shouldn’t go overboard with requesting survey participation or for customers to leave an online review. If asking for a favor that takes more than a few minutes of the customer’s time, offering a small incentive as appreciation can go a long way towards creating customer retention and goodwill efforts.
The above are just three things any organization can do to improve service to existing customers. Perhaps you would like to implement more strategies but don’t have the cash flow to do so. Proactive Funding Solutions can help by offering a wide range of business financing options.