Quick question — how much does it cost you to acquire a new customer? It’s typically way more expensive to acquire a new customer than it is to keep an existing one. If you have the skills to turn that new customer into a client and retain them, then you’ll be foreseeing a huge marketing ROI (Return of Investment).

As a small business owner, your first main job is to make sure that you have a solid customer relationship management infrastructure in place. Once you do, customer retention and loyalty can come naturally. You need to keep in mind that first time clients have to be convinced on many things. But once you’ve convinced them to buy your products or avail of your services once, the next purchase(s) should be easier as long as you delivered what you have promised and provided that they liked what they received.

Here are some five important points you need to practice if you want to turn your first time buyers into solid clients:

  1. Deliver on your promises.
  2. Say “Thank you.”
  3. Ask for feedback.
  4. Deliver value.
  5. Reward loyalty.

Deliver Your Promises

If you convinced someone to buy from you, chances are that they had expectations based on the way you formed your proposition to them. Don’t make promises you simply can’t keep. Deliver on time every single time and be available to swiftly address any problems that will arise.

Say Thank You

Though it may sound fundamental to provide basic pleasantries and good customer service skills, it actually do mean a lot for a first time buyer. Consider following up after a purchase to thank someone for their order and take this as an opportunity to keep the communication open.

Ask for Feedback

When you thank a customer for a successful transaction, ask them if they are happy and satisfied with your product or service. If they are, this reinforces that you delivered on your promises. However, if they’re not, then this is a chance to make things right and try to salvage the relationship. Feedback won’t just help you improve this client relationship; it will help you mitigate risk with future clients, too. Listening to your customer greatly helps you operate with continuous improvement principles and that can help you retain more long-term customers.

Deliver Value

Identify what is considered to be most valuable in the eyes of your customers and strive to give it to them. For some, availability. While for some, it’s flexibility. For most, it’s reliability, quality, and consistency. Good products, good pricing, great customer service is equal to happy and loyal customers.

Reward Loyalty

Loyalty programs get results. Not all companies have the resources to set up a sophisticated loyalty program but if you can demonstrate your appreciation of customer loyalty in some way, do so. Some people appreciate an extra discount or other product or service freebie. Others prefer to be taken out for lunch or for a game of golf. Some clients just want to thank you and to know you’re listening to their needs and working to continually help make their lives better. Get to know your clients and it will be easy to determine the type of loyalty reward they would really appreciate.

Are you easy to do business with?

Being easy to do business with is second only to your product or service when it comes to repeat business. To turn first time buyers into clients, you need to earn their trust first. Again, were you able to deliver what you promised? Did it live up to (or exceed) expectations? If so, you’ve got a greater chance of turning new customers into long-term and profitable relationships.

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This entry was posted by Staff Writer on Wednesday, May 18, 2016 at 6:39:26 AM and is filed under Mixellaneous.

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