When you are doing business, you always need to focus on getting sales. Most people focus on getting new customers which can be hard and will cost you more. A survey says that retaining existing customers would cost you five times less than acquiring new customers. Also, there is more than a 70% chance that they will buy from one compared to a 20-50% chance of new customers.
Customer satisfaction is the main thing that you need to focus on. Little things like saying thank you in person or re-sharing their story can mean a lot for some people. You should surely do all these things to provide the best customer service. Further, make sure you are replying to their queries as fast as possible with possible solutions. Lastly, you can surely improve the main infrastructure that is your website. Make sure the website is easy to use and the checkout is simple and fast. This is the part where most people don’t focus on. If you don’t retain your existing customers, you are missing out a lot. For most businesses, it is retaining customers who help them generate more profit compared to the new ones. It’s not always the number of customers that matters in business. It’s about the regular customers who are genuine towards your brand. For that, you need to build trust in customer relationships, which brings us to the next point.
Trust and loyalty will come a long way long. You need to build trust with your customers which will make them buy more and more. One of the best ways you can increase customer relationships is by implementing loyalty points. You can offer some loyalty points for X amount of shopping. You can either give some reward or you can also allow the customers to convert the reward points into the store credits. Brands like Target, Starbucks, Best buy already apply all these strategies. There are many more ways you can increase loyalty with your customers. Giving loyalty points is the best way because it is directly proportional to the amount of money they spend. So, the more money they spend, the more points they will get. This will be better for your sales part too.
Branding is the most important thing that you need to focus on. People will only buy more from you or pay you more if you have a brand. therefore, branding is an important part that you should not forget at any cost. So, whenever you are trying to promote your business. Make sure that you are promoting it as a brand. The theme of the brand should be felt at every single place including your store, website, social media, etc. This will create a presentation of your mind in the customer’s mind and it will increase the customer relationship.
Most people think branding is all about the logo. However, it is surely not so. Branding includes all the things such as the colors you use, themes, etc. Some people even consider fonts to be a part of it. However, these are not the only things that matter. It is necessary to have some social proof. Things like customer testimonials or reviews will increase brand authority.
These 3 ways will help you a lot if you are running a business. All these three points were directly related to customer service, customer relationships, and branding. So, make sure you are implementing all these in your business and providing the best customer service to your new and existing customers.