Customers are the life blood of your business, no one can deny that. But do you focus all your attention on attracting new customers all the time? Or do you remember to pay special attention to your regular and loyal customers.
This is actually an issue that many business owners have today. They focus all their energy on continually trying to attract new customers. So what is wrong with that?
Well technically nothing, but you are missing out on a valuable resource sitting right under your nose. That is the customers you have now.
Why not work on turning them from a onetime customer into a loyal repeat customer? One that can not wait to purchase your new products and eagerly shares them with their friends.
Developing your customer retention rate can increase your bottom end quickly. Another benefit of this is it helps to build your brand and gives you additional exposure, without you spending your advertising dollars.
If you start to focus on your current customers you can develop new sales methods. Depending on your business model, you may be able to offer upsells or recommend additional products to them.
A great example of this can be found on Amazon. Just look at a product on their page and you will notice their ‘Other Customers’ section. Obviously they are doing this for a reason, it works.
Following up with customers is important as well and can be a great way to turn them into loyal customers. Even if a customer has had no issue with a product, connect with them to see how they like your product.
You can do this in several ways including setting up a Facebook page or getting customers to subscribe to a newsletter or mailing list.