Retaining customers is a valuable part of any businesses success. According to the the Harvard Business School, an increase of 5 percent in customer retention rates can result in a 25-95 percent profit increase for businesses.
To help you retain your customers, try these tips from Small Business Computing:
1. Stay in touch with your customers
Sure, this one may seem obvious but you would be surprised by the number of businesses that do not take advantage of this easy way to retain customers. Sending regular emails to your customer base can be a quick and efficient way to stay in touch.
2. Encourage bigger initial purchases
According to SumAll, the amount of money a customer spends at your store directly relates to whether or not they will return to your store in the future. Be sure your sales staff is well trained and can provide great service while trying to up-sell your customers.
3. Get personal
Customers usually need some sort of incentive to remain loyal to a company, so be sure to offer personal customer experiences. These personal experiences will help your customers form emotional attachments to your business.
4. Don't overlook loyalty programs
Loyalty programs are very popular these days and they are often worth the effort for small businesses. The trick, according to the article, is to get creative with your loyalty program. So get brainstorming.
5. Keep things fresh
Customers want to see things that are new and exciting. In addition, there is always room to improve so listen to your customers and makes changes based on the feedback you get.