How does customer retention and loyalty work for Small and Medium sized Business' (SMB Marketing). See how using Opt-in SMARTS Technology, Systems and Services can help your local business.
As a small business owner, you probably already know that customers are the bread and butter of your business; it simply will not survive without them.
But how valuable is a “loyal, repeat” customer to your business? Have you taken time to really think about that?
Successful companies all over the world recognize the importance of getting “new” customers. However, many of them almost ignore methods that help them keep their “existing” customers coming back to them on a long-term basis.
This is either because they don’t know how to get them to come back or they don’t take the time and necessary actions to make it happen.
Either way, in order to take control of your local market, your business must place some emphasis on building customer loyalty. If you stop to think about it, repeat business is much easier and less expensive to get than brand new business.
In just about any industry that exists, it is easier to get a customer whom has already purchased from you to purchase again… than it is to get a cold prospect to buy from you.
Wouldn’t you agree?
This is why focusing on efforts that will keep your current customers happy and satisfied is one of the most profitable investments you can make for your business.
If your customers become dissatisfied or turned off to your business for any reason, they will quickly move on to one of your competitors. Once that happens, it may be extremely hard to get them back.
In addition to that, you should also start using marketing tools and techniques available to you that naturally produce loyal customers as well as repeat sales.
One of the most common mistakes many small businesses make is that they spend a lot of energy trying to get “new” customers; while ignoring retention efforts to keep their “existing” customers coming back.
In other words, they allocate most of their budget to getting new customers to come through the doors, but hardly invest any of their marketing dollars on keeping their existing customers spending money with them.
Let’s clarify the main point here,,,,,,,,,,,,,,,a successful business is not about who gains the most new customers; it’s about who gains the most PROFITS in the end. A true “loyal” customer is cultivated over time; not one who makes a couple of purchases and they’re gone.
Business owners who only focus on attracting new customers usually find out the hard way that many of their customers won’t stick around for the long-haul.
Therefore, instead of looking for a million of ways to attract “new” customers, companies must put more attention towards their existing customers.
Dive in to this presentation here and see how important this strategy is and how YOU can get YOUR Business