7 Ways to Build Long-Term Relationships with your Customers
If you have been in business for a while, you would have definitely understood that in this era of consumerism, there exists different choice for every product. So, you alone do not hold a monopoly for your products.
The customer is the King and to sustain your business, it is essential that you nurture your relationship with your existing customers.
Wondering, why is it important to build long term relationships with your customers? Well, here are the reasons:
- A loyal customer is worth 10 times his/her first purchase
- Existing customers are 14 times more likely to buy from you rather than others
- It costs 6 times less to keep an existing customer instead of acquiring a new one
But, how can you build long-lasting customer relations?
Here are seven sure shot strategies that you need to adapt to for each of your customers in order to build a long term relationship with them.
First Impression is the Last Impression This is of utter importance to stay viable in the market.
So, ensure that your customer’s first purchase and experience is memorable.
You can help them identify their needs. You can ask them to share their contact details with you so that you can take follow-up. You can then study the buying pattern of every customer over a period so as to deliver them the best service.
Respect your Customers
Customers are the heart-throb for a business’ survival and they are people with real emotions. Hence, they deserve the best possible behavior.
Each customer is distinct from his/her choice, needs and preferences. But, they all should hold equal importance for you. So, you must put your efforts to establish a bond with them from day one.
If you want your customers to have a warm relationship with you, you must show sincerity and be respectful to them. You must show that you genuinely care for them and their needs.
In order to win your customers' respect, you should carry yourself in a mannerly and professional fashion.
Understand your Customers’ relationship with your business
To determine what your customer values, always listen to what they have to say and the way they say it. You have to know your customers as much as you can.
Analytics tools can help you with this. For online oriented customers, heatmaps are a great solution. This software allows you to view which areas of your website are receiving more traffic. You can take a note of that and focus more on those aspects to grow your business.
Personalize your approach towards your Customers
Be relevant and creative with your offers and when you communicate with your consumers. Map your interactions according to your customers’ interests. Amalgamate some exciting things so as to keep your communication fresh.
You can adapt to alternate marketing approaches to announce your offers – SMS, phone calls, emails, social media notifications, flyers, postcards, in-store or online. You must send offers that are relevant to a customer in particular.
Reward your Customers
Rewarding existing customers for their loyalty will not only increase customer retention but also uplift customer acquisition. This will help you boost your business.
You can set different loyalty programs, offer discounts on specific products, grant point rewards, present eye-catching deals or give away free gifts on purchase of a certain amount. You can even take feedback from your customers as positive feedback often draws new customers.
Undergoing such programs make customers feel special and pleased. This provides a reason for continuing to buy products from you again and again.
Always respond to your Customers’ Concerns
Instantly answered queries build friendliness and uplift the chance of that customer's coming back to you for another purchase. Whether the concern is from an existing customer or a new customer, it must be immediately responded.
Make sure that you timely monitor the online mentions regarding your brand or business so as to get the know-how of the complaints that are posted on social media or review sites by your customers.
You must set up a process of collecting your customer's feedback. Positive as well as negative feedback must be taken into account so that it can help you improve for the betterment of your company. You must keep an eye not only on the complaints received but also the way in which you or your company responds.
Seek the help of Social Media Platforms
Social Media is a great platform to stay connected to customers. It helps you dive into the latest developments of your customers’ lives and thus lets you determine their needs. ‘Likes’ and ‘follows’ are the greatest tools that help you gauge your customers’ interests.
Your customers’ comments on your social media page or website can be used as valuable feedback to measure your growth, know how to move forward and attract new customers. Simultaneously, any criticism must also be taken into consideration. You must find a solution to it and show your customers that you are taking steps to avoid it.
Social Customer Relationship Management (CRM) is the most popular marketing tool used by many businesses. This tool ties your social media interactions with a database and permits you to manage that data easily.
Remember, long term relationships with customers form a strong base for your business. So, appreciate your existing customers, remain loyal to them and maintain your brand’s credibility to gain new customers.
