Regardless of the size of the business, it is vital to give importance to customer loyalty at all times. Why? Because repeat customers spend at much higher rates compared to new customers. Another thing is it’s several times more expensive to attract new customers than it is to keep those whom you’re already doing business with.

So if you’re looking for ways to establish or maintain your customer’s loyalty, you may want to try practicing these simple strategies.

1.    Set up ways to communicate with your customers

Frequent communication with your customers keeps you fresh in their minds and lets you pass along important information. Take the time to set up a database with contact information such as email addresses, mailing addresses, or phone numbers. Then you can send friendly reminders, birthday greetings, or a monthly newsletter.

Social media is another great way to communicate with your customers on an almost daily basis. Keep in mind that this works better if you limit how many of your communications are actually advertisements.

Don’t forget to throw in messages that are either fun reminders or useful information.

2.    Provide extra perks for your most loyal customers

One of the best—and perhaps one of the cheapest—ways to reward customer loyalty is to give extra perks to your most dependable customers. Whether it’s the ability to skip the line, special meet-and-greets, or immediate seating, customers love getting a little something extra.

By setting up a reward system for the most loyal, you not only encourage them to stick around, you also give an incentive for other customers to strive to reach that status.

3.    Provide great customer service

Customers remember when they’re treated well, and they remember when they’re treated poorly. In either case, they usually tell their friends and family, and that can either mean more business for you or lost business opportunities.

4.    Consider different payment plans

There are some businesses out there that are very seasonal and run into cash flow issues during certain times of the year. For instance, a wedding shop usually receives most of their sales during the summer months when weddings are in full swing, but during the winter they struggle. One shop decided to offer a payment plan through which customers could start shopping in the winter, and pay a little throughout the months leading up to the wedding, rather than paying all at once.

This plan worked because it helped customers by giving them manageable monthly payments, and it helped the company by bringing in cash during an otherwise slow time of year.

5.    Offer a head start

If you want to start a customer loyalty program like coffee shops use, whereby customers buy a certain number of drinks to earn a free one, consider giving them a head start. This can be as simple as giving them the first two punches on the coffee card for free. If you give your customers a head start on the program, they’re more likely to stick around and finish it.

6.    Don’t forget to smile

This is another item that seems obvious, but it’s important enough to keep being reminded of. A study in the United Kingdom recorded the expressions used to greet customers as they entered a store, and then cross-checked with how much they spent in the store. The study showed that shoppers who were greeted with a welcome and a smile spent up to 67 percent more than shoppers who were not greeted this way. While it seems like a small detail, a friendly greeting obviously has important consequences.

In today’s business climate, it’s impossible to stress just how important customer loyalty is. These tips will help you create loyal customers who will be happy to frequent your business for many years to come.

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This entry was posted by Staff Writer on Thursday, December 14, 2017 at 6:14:15 AM and is filed under Small-Medium Business.

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