This contributed post is for informational purposes only. Please consult a business, financial and legal professional before making any decisions. We may earn money or products from the affiliate links in this post.
What defines the top brands in the world?
It’s not just the quality of product or service.
It’s that they have customers or clients that keep coming back time and time again.
They begin building customer relationships for repeat business rather than focusing on a one-and-done sale.
Success lies in repeat customers, not market share alone.
Here, we’re going to look at how you can start building customer relationships for the long-term.
Establish loyalty as you start building customer relationships
The first thing to recognize is that it usually costs a lot less to encourage a customer to repeat their purchase than it does to win over a new customer.
Marketing to existing clients and customers is much more cost effective because there isn’t as much of a sell needed.
They already know the quality of what you provide, often it’s simply about reminding them.
Adding a discount can help sweeten the deal all the more.
Creating an opt-in electronic newsletter can help you consistently stay in touch with those existing customers, as well.
Identify why you’re losing customers
Just as there are analytics to see how successful your marketing tactics are at encouraging new customers, there are also metrics by which you can determine how many of them keep coming back.
By finding the sources of customer churn in your business, i.e., the failure to retain them, you can spot what you need to improve.
From bad, spam-like email campaigns to failures in customer service and support, there could be plenty of barriers between your customers and their success with your product or service.
You need to look inward and find those barriers, then use metrics to see how effective any changes you implement are.
Manage your reputation
It’s not just the customer’s dealings with your brand and business that will define whether or not they keep coming back.
Even happy customers can easily be turned off a company if they catch wind of some bad news. Identifying the issues that could harm your business reputation is important.
This might mean ensuring legal compliance above all else, creating a better company culture, aiming for more environmentally responsible practices and the like. You can also use reputation management services to ensure that you’re getting the good press that you do deserve, too.
Capitalize on your success
If you have truly helped customers succeed, then you deserve to receive the credit for that, as well.
Happy, long-term customers might be more willing to share their stories than you think.
Gaining testimonials and reviews from customers is one thing but building a case study has been shown to be one of the most effective ways of establishing trust and building a good reputation.
A good case study looks at the entire customer journey, beginning with their problem and going into detail of how your business helped to solve it.
If you’re attracting more and more customers, but still not seeing the kind of success you expected, it might be time to look at not just the quantity, but the quality of those relationships.
Encourage them to keep coming back and keep your refining your customer relationship building strategies.