How do you attract new customers? And how do you retain them once they become your customer?
As a business owner, you must know that one of the most challenging tasks is getting new customers and keeping them.
There are several ways to do both. Let us take a look at some of these methods.
Understand the Importance of Customer Retention
Why is customer retention necessary? Acquiring new customers is more expensive than retaining existing customers, so you need to pay attention to customer retention. Attracting new customers requires continuously honing your products and services to stay one step ahead of your competitors and target market. This is where we see the importance of customer retention.
Companies use different tactics to convert first-time buyers into repeat shoppers. Your customers are humans, too, and all humans want to be treated with respect. Customer retention means satisfying existing customers, so they continue buying from your brand instead of competitors.
Your best customers are not those that make one-off purchases. Your best customers come back again and again to buy more. i.e. your customer base. These repeat customers should be provided with excellent customer service.
Customer retention helps increase the profitability of your business while saving on marketing and sales costs.
Customer retention is essential for any business. It helps you keep customers happy with your products or services. If you lose a customer, they will not be returning to buy from you again.
Your loyal customers will likely spend more and explore your company’s different products. Customer retention increases a customer’s lifetime value and plays a vital role in boosting revenue.
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Here are ten ways to attract new customers and grow your business.
1. Gather Testimonials
Gathering testimonials from existing customers is one of the most potent ways to influence new prospects about the value of doing business with you. It’s better to have strangers singing your praise than you.
You can feature your customer testimonials on your website, newsletter, brochure, flyers, etc. Your sales team can also use these testimonials in presentations to introduce your business to prospective customers.
2. Ask for Referrals
Among your existing clients lies some of your greatest fans! Ask your best customers to refer you to potential clients. Since they are already crazy about your product/service, they would have no qualms about recommending you to their friends/associates. Provide referral rewards to your existing customers who refer new customers to you.
Supporting a local charity/NGO will deepen your relationships with current customers. It will help build trust with new customers. Click To Tweet3. Build Partnerships
Connect with a complementary business in related industries or your industry as part of your marketing strategy. Work together to promote both of your products or services. Your partners can help boost your product/service to their customers and vice-versa. In most cases, it’s a win-win situation!
4. Supporting Local Charities/NGOs
You can pick a particular charity and sponsor its activities through proceeds from your business. Supporting a local charity/NGO will deepen your relationships with current customers. It will help build trust with new customers.
5. Networking
Joining a networking group is another excellent way to build your business. It helps you gain visibility and meet business owners and prospective customers. You can learn how your colleagues are coping with the current economy. You may meet others who might want to partner with you.
6. Offer Free Samples
Give away free samples and promotional items. Samples are free advertising that can help your business attract new customers. If you offer samples, make sure they are high quality and attractive. You want people to take them home and show them to their friends. This will increase your brand awareness and build trust.
7. Use Social Media Marketing
There are various ways to attract new customers. One of the easiest and most effective ways is through social media marketing. Social media platforms such as Facebook, Twitter, Instagram, LinkedIn, etc., allow businesses to reach out to potential customers.
Social media marketing is a great way to advertise your business. Share interesting content and engage with your followers.
Create an account on Facebook, Twitter, LinkedIn or Instagram. These platforms have become the leading social media platforms for businesses. By creating an account on any of them, you can connect with potential clients and share information about your company. The choice of which platform to go with will depend on which platform the majority of your target audience use. Any time you publish a new blog post or any other content, share it on social media. Use email marketing to notify everyone on your business contact list/email list about it.
Depending on your business model and market plan, you should also consider search engine optimization to spread your marketing message and increase your market share if you have a website.
8. Apply Pareto’s Law
Spend much of your time each day focusing on finding new customers. It will help you uncover new customer opportunities that you have overlooked. Spend the remainder of your time taking care of your loyal customer. Do not underestimate the value of customer loyalty.
9. Provide Excellent Customer Experience
The way you treat your current customers is also essential. If you want to increase sales, you should provide better service to your existing customers. This means that you should always be ready to answer their questions or solve their problems.
Provide a stellar customer experience to all your customers. Customers will share their experiences with friends. It will draw their friends to your business.
Depending on your business model, additional ways to offer an excellent customer experience include:
- Creating a Loyalty Program for your customers and rewarding loyal customers with special offers.
- Offer free shipping or delivery.
- Offer discounts on things they buy. But do so with caution so that you don’t give your ideal customer the wrong impression that your products or services are already overpriced.
Remember that there is no better marketing channel than a satisfied customer.
10. Follow Up
Follow up on any potential interest that anyone shows in your business. This is an integral part of the sales process. Even if the person doesn’t become your customer right away, they might later. However, please don’t overdo it and become an irritant. It will yield the opposite result.
If you’re fortunate to have the person buy from you, follow up after-sales. Also, send thank you notes to your loyal customers from time to time.
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Conclusion
In conclusion, attracting new customers and new business opportunity is essential because it helps you build relationships with your target customer, making them more likely to buy from you again.
Is your business facing challenges in this economy? Mauco Enterprises can help you with digital marketing solutions to attract new customers. Contact us today, and we will be glad to help!
Can you think of other ways to attract new customers that we left out? Tweet us @mauconline to let us know.
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