To win a new customer is not so easy. It takes money, time, and marketing efforts in the hope of earning even one sale into account. There is no surety of returning a customer to you. So, a regular customer could be the biggest asset of your business productivity.
Most organizations aren’t committed and stop doing the small things that matter a lot. It is the commitment towards the customers. This article provides ethics and routes for achieving long-term success in the businesses.
Don’t make a mistake by only targeting the new customers; also take care of your existing consumer. It is expensive to attract a new customer than retaining one. That’s why one should never leave loyal customers unhappy because working on retention is much more cost-efficient. Never forget to stay committed to regular customers while appealing to the new ones. Make sure you maintain the fine balance between the two.
It needs great customer service to build loyalty. Each customer requires support even after a year of the last purchase. Dedication to support your customer to that extent will pay long-term dividends. Be responsive to each customer which defines your ability to manage customer relationships.
In customer relationship management, there are various stages that a customer goes through and is called the customer lifecycle. It is the journey of a consumer when he signs up for service until the final purchase.
During these phases there are five basic stages of a customer lifecycle:
(i) Reach: It is the first step when the customer finds the marketing material and gets aware of the product or brand.
(ii) Acquire: Proper understanding of the brand to the target audience is a must. Guide the visitors about how to get the most out of the product and service.
(iii) Purchase: Deliver the customer what they need and follow them on all channels to make a relationship with them.
(iv) Post Purchase Engagement: Ask for the feedback and get some ideas for the improvement.
(v) Advocacy: Recommendation, rating, and review by the customer are valuable for any business.
The lifecycle of a customer shows that it is necessary to make them happy and satisfied at every interaction. Tuning with the needs of a customer is the best way to maximize the revenue of your business.
The secret behind the success of any business is: MAKE EVERY CUSTOMER HAPPY.
A new customer always starts from a small order and if everything goes well they can give you a huge profit. The aim is about delighting the existing customers so they attract new ones. This happens when they get a great experience with your product and service. Your competitor can win your customer even after investing a significant amount of time, effort, and money. The reason behind this failure is the lack of improvement in customer service commitment for the long term.
It is necessary to keep every customer happy and engaged that derives any customer to come back. Use certain strategies like CTA (Call to Action) on the website, email messaging, and social media posts to increase the connection with the customers. Each of the mentioned activities is a must and should be carefully planned and executed.
Moreover, the new product features, proper information, special deals, reward program, and genuine promises can turn one-time buyers into loyal customers quickly. This strategy approaches them to get in touch with you again. Since all customers have different demands so treat them according to individual concerns. The existing customer is part of the marketing campaign so don’t lose them.
The last and most important is to manage with those who aren’t satisfied with the product. They feel like complaining but don’t tell you and go away. Always try to follow up with each customer and ask for their feedback. After receiving a complaint or negative feedback take it as an opportunity to rectify the mistakes done previously and handle the situation. In this way, you are diverting a customer from complaining about you with others.
Building a long term relationship with customer require massive time and effort. These small strategies are going to form a large revenue for the businesses in a step by step manner. Take advantage of such strategies by applying in your business and make benefits.