Taking Advantage of Returning Customer Potential
⏱ Reading Time: 7 minutes
Nowadays, companies focus mostly on attracting new customers instead of concentrating on returning customer potential with current customers. Building a connection with existing ones has become more important and cheaper. According to statistics, it costs 5-6 times more to find new customers and invest in them, then retaining a current one.
A return customer is the one who has made a purchase at least two times. The one who has returned back several times to your business, which is why they are also called “loyal customers”.
And every businessman has the same dream – keeping loyal customers. It is one of the greatest advantages for your company to have customers returning to your product and services over and over again. And same as building and maintain a loyal customer base.
Returning Customer Potential
You must first understand your customer and their needs if you want to return their potential. Then you can establish a connection with them, which is more crucial than just a transaction with them you have.
Try to be yourself at this moment. You are also a customer for many other businesses. What are the things that bring you back to the same businesses, shops, to the same service providers? Many people responded the same 3 things:
- customer experience
- product quality
So, if you’re giving your clients reasons to come back by establishing an excellent and unique customer experience, providing quality products at an affordable cost, then you’ve definitely developed a good approach and you’re going to have no issue returning customer potential.
🚀Download our free eBook: Small Business Guide to Amazing Customer Support
6 Ways How To Motivate Returning Customers
Check these 6 bulletproof methods to return client potential.
Superior Customer Service
60% of people are willing to pay more for better customer experience. So, keep that information in mind. It should be a priority for you company to offer great customer service, particularly if you want to retain customers. Ensure your customers to know what to expect when they visit your business.
Also, make sure you have qualified people on your team. What customers want more than just a good price is a unique experience. It is essential to educate your team on how to provide unique customer service and how to communicate with customers while offering excellent service. It is all about the right skills. You can have the worst product in the world, but if you have someone with the right skills, you can sell anything at any moment. Keep in mind that customers will always come back to business where they had great customer experience.
Show your appreciation by surprising customers
This is one of the ways to spread the good news to other people. The customer will be happy and likely inform other people, so you will earn more new customers. And we all want that, don’t we?
It is the little things that count. Such as remembering customer’s name, sending thank you notes (after first time purchase), happy birthday notes and gifts, free samples or discounts. The fact that you will just do anything in your power to help customers when they require assistance. Those small gestures are a quick and effective way to let your customers know they are appreciated and that will encourage them to return. And the important thing is to personalize your marketing communication. Because 82% of shoppers say they’d purchase more from brands that customize the communication they’re sending out.
Picture 1. Returning customer potential by surprising them
Don’t keep your customers waiting
Everybody has had to wait in order to reach customer support and everybody’s forgetting the fact that customers are people too. They have their jobs and things to do. Don’t let them wait. Customers are expecting fast responses about your products, or they will replace you with new ones. Give customers what they deserve. Fast responses, detailed data, product advantages, discounts. By being all-the-time-accessible to your customers, that increase their comfort and trust in you. As a result, they can rest assured knowing that they can rely on you.
Preferably, you should respond within a few hours, particularly during business hours. If you do not have time for an immediate detailed answer, be sure to at least acknowledge the message and provide a timeframe for a response. And remember, when customers spend money on your product, they expect value for their money. When customers reach out to you, it’s beneficial you do everything in your power to make them feel their money was well-spent.
Picture 2. Never leave your customers waiting
Listen to what your customer has to say
You should pay attention to what customers are really saying in order to keep returning their potential. What do they like about your product, what do they think should be improved? All this information you can gather just by listening. By trying to understand their needs and trying to help them, you are building a relationship with them. Once a customer feels that they can depend on you, they will become loyal. Listening to them allows you to provide the solution that is right for them, not just the one that you want to sell.
But what you need to understand is that is not just enough to listen to them, you have to take their feedback and improve what is wrong. Customer feedback is an excellent way to collect company informations in one place. It keeps you informed whether customers are (not) satisfied with the product or service you deliver. Implementing the feedback you receive will enchance customer satisfaction, resulting in return business and the referral to others. But, if customers notice you are not trying to make an effort to understand them, they will become disinterested in your products or services.
Related: What is User Generated Content?
It turns out that loyalty programs are efficient in returning client potential. It is a program offered by a company to those customers who often make purchases. Also, these programs can maximize a customer’s lifetime value. By implementing these programs you are also attracting new customers besides retaining current ones. The simpler access to your rewards, coupons, the more customers will want to buy from your brand. Therefore, encourage customers to join your mailing list by which they will be able to claim all kinds of rewards, not just when they spend some specific price amount. Those could be summer sale, winter sale and similar.
Besides attracting new customers, you are increasing sales. That is a great way to distinguish between competitors. Loyal customers trust your business, which encourages them to spend more. According to research, when you increase customer retention by just 5%, your revenues can increase by as low as 25% and by as high as 100%.
Lastly, don’t forget that your current customers can spread the positive word and assist your company to further promote your program to new customers.
Don’t forget the power of social media
Your social media presence is a great way of returning customer potential because you are connecting with them and staying at the front of their minds. Follow and interact with current and former customers. Retweet, comment, share, like, etc. Also, try to create a mix of content that highlights your company culture instead of flooding them with random information. Personalize that content – it is powerful. It takes lots of time but it’s well worth it. And always ensure that your interactions remain positive and understanding.
Review – significant thing on social media, especially for businessess. You will be able to see if your product is good or bad and why some of your customers left. You should answer to both positive and negative reviews respectfully and supportively. With negative ones, try to gain customers back. Don’t just rush to answer without thinking wisely. Think about a solution you could offer them to solve the problem they had. Be non-confrontational and always positive.
When you turn unhappy customer to happy, other people see that it is a big chance they will notice you and turn on to you. And that unhappy customer will be able to see the effort you put in to try to help him – and become loyal back again.
Picture 3. Returning customer potential with social media
Getting new customers today became an essential part of business strategies. But people are now more focused on getting new customers that they forget to take care of those who have already shown interest. It is normal to look for ways to continue your company to spread and grow, but you should also look for ways to keep and bring back the ones who showed interest earlier and didn’t get right customer service. You can have hundreds and hundreds of customers, but if you don’t take care of all of them, they will leave. Most people are pleasantly surprised with the first interaction, and later that interaction vanishes. So, it is better to have fewer customers you will constantly nurture – because they will be loyal to your business.
Create a chatbot that delivers
More from our blog
What will the future of cloud computing look like? Here are a couple of predicitions for one of the fastest growing industries in the world.
What do customer satisfaction and live chat implementation have in common? Take a look.