The key to building profitable relationships is to retain customers as it is far more difficult and expensive to get new customers over servicing existing customers. Small business owners should be developing strategies aimed at retaining customers.
The long term perspective towards building customer relationships which aim not to have one successful transaction with a customer but many will be far more profitable for your business.
How do you retain customers?
- Don’t over promise in marketing
- Know which customers provide the greatest value
- Provide superior Customer Service to key customers
- Build Loyalty
The expectations customers have (the value they expect) effects their satisfaction and if they decide to come back. Therefore satisfaction depends on your product or service relative to the buyers expectations.
Your marketing materials and branding should accurately reflect your product or service performance. Over promising and under delivery will only lead to dissatisfied customers who will not return.
Its not possible to pursue and satisfy every customer, the trick is knowing which customers or market provides the greatest business value and servicing that customer or market. This is the similar concept to finding your businesses niche in the market and concentrating on servicing it better than everyone else.
You can not be all things to all people so find your place and go for it
Customer service involves going above and beyond what customers expect. Live by the saying “the customer is always right”. Alot can be found on how provide superior customer service so it will not expand in this blog . Remember that some companies sell products or services where superior customer service is not expected eg compare Aldi to Coles.
You should be looking to provide a reason that your customers should keep returning. The loyalty marketing techniques used depend on the product, service and market in which you operate. At Style we have used loyalty cards, trading terms and targeted direct mail specific to the customer. At Style we can provide you assistance to use the right technique for your product, service or market.
Also remember that not every customer want a relationship with your business.
At Style we can help you build profitable relationship with your customers through our knowledge of marketing solutions.
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