Keep up to date
Consumer trends are always changing. It is vital for any business to keep up with its customers' current and future, needs and wants. Understanding likely changes in customer habits gives you the opportunity to adapt your strategy before your competitors are even aware change is taking place. One of the simplest ways to find out about your customers is to ask for their insight.
Would you rather your business be customer lead, or market driven?
Research shows that on average it is at least 6 times more expensive for a business to gain new clients than to keep their existing ones happy (much more in some sectors). Communication must be at the heart of any customer retention strategy.
Customers often feel more loyal to businesses that go out of their way to rectify a problem, even when compared to those who they have never had an issue with. The first step to this is providing an open and professional platform that customers feel comfortable providing feedback through.
Measure customer satisfaction (and show it off!)
It is important that your business has a formal mechanism to measure what your customers really think. Counting smiles at the checkout is not enough to be sure that your customers are pleased with the all-round experience they receive from your business.
The “would you recommend to a friend” test could be an initial acid test to get you started. Going further and asking customers to provide a more detailed response can help build a connection between your business and your customer. This in turn will help them feel valued, and more loyal to your brand. This shows you care about them and their opinions, and not just their money.
Showcasing the positive feedback you have received as part of your marketing strategy can be hugely powerful when looking to gain new customers. The views given by independent brand ambassadors will be perceived to be more trustworthy, than the content you create yourself.
Gain new customers
Knowing what your existing customers love, is a great insight into what your future customers will love too.
Speaking with your customers to find out what makes your business stand out to them can help you to devise your future strategies… maybe your business has a USP (Unique Selling Point) which you hadn’t ever considered or emphasised sufficiently in your marketing before.
If you are considering diversification of your offering, then why not ask for suggestions from your established customer base. Although they won’t necessarily provide ideas you haven’t already thought of, they will validate ideas you have, before committing time, money, and other resources into the launch.
Find out how the Business & IP Centre Northamptonshire can support your business by visiting our 'Services' page.