How to get new traffic to your store (or site) and grow your loyal customers.
Today’s customers want it all – competitive pricing, value, and high quality service. What’s more, loyalty levels are declining leading to higher turnover rates. A customer is four times more likely to buy from a competitor because of service quality as opposed to price (Bain& Co). Thanks to social media – the ultimate in word-of-mouth communication- individuals decisions to switch can have rapid and widespread consequences (Accenture).
Providing your customers with useful information will build loyalty.
Content marketing is all about creating and distributing relevant articles, information, videos, etc. – to attract and engage a clearly defined target audience. The end goal is to drive profitable customer action.The idea is to create interesting content that speaks to clients and prospects without selling them anything overtly. Packaging and disseminating useful content in a thoughtful way also positions your store as a thought leader and showcases your expertise. Modern consumers are more shopping savvy than ever as the internet provides easy accessible information about your product and those your competitors are selling. While determining what customers are looking for is crucial, meeting their needs is not enough to keep them coming back.
It is important to build loyalty through time and build trust.
Learn more about your most loyal customers and enthusiastic promoters, those who love doing business with you and sing your praise to others. Invite your top clients back to your store using feedback surveys and conversations. Highlight your unique strengths that attracted them in the first place.
Ensure the support of senior leaders and managers to help ensure that all team members recognizes the importance of your customer service philosophy. Empower your staff to make decisions in-line with your customer service culture. “Our standard return policy was 30 days but the owner always told us we can break the rule when we felt it would make customer service sense,” Tina, a sales associate at Moss and Me, told us. “I knew giving back a customers money would have her spend more in the store, and she did that day!” Success requires cultural change and commitment to permanent customer service values first.
Recognize that not all customers are the same. While customer value and profitability are key elements of the company’s retention tactics, set rules around customer service means you are more than likely not adapting to the needs of each customer. Listen to a individual needs and provide a solution tailored specifically to the situation.
Always stay on your toes. Older businesses are in danger of becoming complacent, allowing their innovative capacity to die off. When long-time consumers are only contacted for business they are likely to see your relationship as a formality and take their business elsewhere. Remember, competitors are courting new customers just as often as you are, if not more. Bringing new benefits to your customers and making the business relationship about more than a discount will keep your old buyers coming back. A good way of doing this would be to:
- Work with agencies like the Karlyn Group to create a newsletter for your clients which highlights the differences between products or services.
- Have a productive website which encourages repeat business.
- Offer informal classes, book signings, and demonstrations by vendors.
No matter what stage your business is in, there are simple ways for you to build your relationship with your consumers and continue to thrive.