According to smallbiztrends.com 65% of sales come from existing customers. Now, although this statistic is for the U.S, there’s no denying that Australia will follow suit when it comes to sales. Why? Because when we find a product or service that we like, we keep going back for more. And with 65% of sales coming from existing customers, it begs the question… How do you create a loyal customer base when it comes to your business?
Creating a loyal customer base
Providing your customers with great products or services is just part of the equation when it comes to enticing them to stick around for years to come. So let’s dive into how to create a sense of loyalty that cannot be broken when it comes to your customer base:
Provide great products and top services
Yes, we did just say this – but it is still important. It’s what entices customers into your business at first, and it helps to bring them back if your products and services are well priced and high quality.
Customer service is key
We cannot stress this one enough. A friendly face, kind and professional phone manner, quick email responses and genuine care will create a level of loyalty that is hard for your competitors to penetrate. Make your customers feel valued, seen and heard and they will continue to come back time and time again.
Keep in touch
SMS reminders, email newsletters, phone call check-ins to see if your product or service has been well received and to obtain feedback. These ‘touch points’ make your customer feel valued and that their voice and opinion matter. It also shows that you prioritise time with your customer over other business activities – but we must add a little tip: Be authentic. Any interaction with your customers should be natural and genuine, or it could have a potentially negative effect.
Act on your values
Whether it’s caring about the environment or supporting your local community, customers love to support businesses that deliver on their promises and act on their values. A business that cares is seen as a personable business and one that customers can relate to – in turn, making the customer care about your business (and potentially feel guilty if they visit a competitor).
Surprise and delight
Treat your customers to value add-ons now and then to remind them that you value their business and want to reward them as a result. Discounts, added extras at no cost, affiliations with like-minded businesses in the area that they may frequent – these are all ways you can surprise and delight your customer and help to create a loyal customer base.
Stay one step ahead
As a business owner, you know that business is never a ‘set and forget’ experience. Your customers will expect you to grow, adapt and change with the times – offering new products and services that compete with other businesses and cater to their needs. In fact, the best businesses cater to their customer’s needs before the customer even knows what they are!
Think about the little things
From offering tea and coffee when they arrive, to the smell of your reception area. Everything counts when it comes to your customer’s experience. If you walk into your business in the shoes of your customer, and you’re not 100% happy with the look, feel and experience – then tweak and change until you create a memorable one for your clientele.
Establish and maintain trust
Honesty, transparency and trust are last (but definitely not least) when it comes to creating customer loyalty. Being honest about what you provide, the results a customer could expect and what a product will achieve are some easy ways you can establish trust (and therefore loyalty) with your customer.
Ultimately, if you’re looking for loyalty, you need to go above and beyond to show your existing customers that your business cares about them, therefore giving them a reason to care about you.
For more business tips and tricks, check out our library of business blogs here, or contact Core Business Brokers today, on (02) 9413 2977, or email Roy at [email protected] or Rad at [email protected]. Our knowledgeable team are always available for those who have questions about buying or selling a business (or perhaps preparing their business for sale!). Contact us today to get the ball rolling.