Menu Close

How loyal customers can grow your business

Lineage by Julie Cockburn

Expensive marketing campaigns might bring you a stream of new customers, but it’s more cost-effective to sustain the loyalty of the ones you already have, says Ayodeji Onibalusi, writing for Entrepreneur.

Winning fresh customers might seem the obvious way to expand, but research has shown that purchasers who come back repeatedly can be far more valuable to your business than a one-off customer.

Not only do they keep buying your products, but they also encourage others to follow suit through word of mouth recommendations and online reviews. A loyal customer can do a marvellous marketing job on your behalf. As a result, you will have more resources to invest in your services and products.

How can you encourage a high level of loyalty? These four key strategies will help do the trick:

  • Keep customers happy. Give them a pleasant and satisfying experience. This is the number one reason why they come back; they will even pay more for the privilege.
  • Boost staff morale. Offer praise and incentives for achieving customer satisfaction.
  • Share good news. Promote the success stories of your customers via your website or on social media. If they feel appreciated, they will drive more people your way.
  • Reward repeat business. Invite frequent customers to join a scheme to earn points they can redeem on your goods or services.

Remember that loyal customers can save you money; if you let one slip away it will cost you twice as much to secure another.

Source Article: Four Strategies To Boost Customer Loyalty
Author(s): Ayodeji Onibalusi
Publisher: Entrepreneur