Taking Advantage of Returning Customer Potential
Nowadays businesses mostly direct their attention on attracting new clients instead of focusing on returning customer potential with existing 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 to your business several times, which is why are they also called “loyal customers”. And every entrepreneur has the same dream – to keep loyal customers. Having customers who return to your product and services, again and again, is one of the best benefits for your business. And same as building and maintain a loyal customer base.
Returning customer potential
When considering returning customer potential, you need to know your customer and their needs first. Then you can create a relationship with them that will be more important than just a simple transaction 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 answered the same three things: customer experience, quality of the offering product and price/value.
So, if you give your customers reasons to come back again by creating a great and unique customer experience, offering quality products with a price that is affordable then you have definitely created a good strategy and you will have no problem with returning customer potential.
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6 Ways How To Motivate Returning Customers
To return customer potential, check out these 6 bulletproof ways.
Superior Customer Service
60% of people are willing to pay more for better customer experience. So, keep that information in mind. Offering great customer service should be a priority for your business, especially 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 important to educate your team on how to provide great customer service and connect with customers, while still providing expert 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. Customer will be delighted and will probably tell other people, and in that way, you will gain more 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. 82% of shoppers stating that they would buy more from brands that personalize the communication that they send 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 expect quick answers about your product, or they will replace you with new ones. Give customers what they deserve. Fast reply, detailed information, benefits of the product, do they have a discount. By being available to your customers on short notice, you increase their comfort and trust in you. As a result, they can rest assured knowing that they can rely on you.
Ideally, you should respond within a few hours, especially during business hours. If you don’t have time for a detailed response immediately, be sure to at least acknowledge the message and give a time frame for a reply. 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
To continue returning customer potential, then you should pay attention to what customers are really saying. 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 a great way to gather business data 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 improve customer satisfaction, which results 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?
What turns out to be effective at returning customer potential are loyalty programs. It is a program offered by a company to those customers who often make purchases. These programs can also maximize the lifetime value of a customer. By implementing them you are also attracting new customers besides retaining your existing ones. The simpler access to your rewards, coupons, the more customers will want to buy from your brand. So, encourage customers to join your mailing list through which they will have the ability 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. This is your way to differentiate from your 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%.
Last, don’t forget that your existing customers can spread the good word and help your business 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 – a very important thing on social media, especially for companies. 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 have previously shown interest 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 blown away with the first interaction, and later that interaction disappears. So, it is better to have fewer customers you will constantly nurture – because they will be loyal to your business.
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