Imagine that feeling of reward and satisfaction an entrepreneur gets when the number of loyal customers keeps increasing every day!

The more loyal customers any business can attract, the better chances of that business of sustained and growing into a large company.

Keeping that customer who chooses you among the many brands year in and year out, however, is not an easy task for any business operator.

Customer tastes and interests change often, and you must do everything possible to know these changes and address them accordingly.

It is for that reason that we want to help with these strategies to enable you to attract, retain, and widen your customer base.

Find creative ways to appreciate your customers always

Customers are your bosses. They are the reason why you end each day with cash in your pocket.

You indeed provide a solution to their problems, but customers now have a variety of solution providers to choose from.

For choosing to bring their business to you, do thank your customers whenever you get the opportunity to do so.

According to Kimberlee M. (2019), 49 per cent of customers usually switch brands the moment they feel unappreciated.

Why then accept to lose valuable customers when you can retain them by doing basic things?

Verbally thank customers at the end of every transaction, write an email/message or offer them a gift. This is a simple, effective, and inexpensive way to keep showing your customers that you appreciate them, and indeed, they will return the favour by being loyal to you.

Initiate a referral reward system

Recommended article: SMEs – Avoid These Customer Pitfalls

World over, people love free things, and this includes your customers.

But since you are operating a business, you can initiate a unique programme that rewards your loyal customers and yet indirectly increases your sales.

Start an incentive system where a loyal client gets a commission or a discount when he or she refers customers to your business.

This incentive will turn around your customer experience and increase sales at the same time.

According to MIT Sloan Management Review (2018), customers who participate in a business loyalty programme and benefit from it are 80 per cent more likely to choose that particular brand over competitors, and twice as likely to recommend the brand to others.

Retaining 80 per cent of your customers is a dream that every business would love to achieve. With this strategy, you are on your way to achieving that with some ease.

Avail enough information about your product and service

Gone are the days when customers would buy products without enough information.

Nowadays, in this era where with just a click, you can access tons of information, make your product or service information readily available for your users.

Keep your customers informed about product availability, accessibility, its use as well as its benefits, to make customers resonate with your brand.

According to Scott McKain, a renowned entrepreneur, providing limited information erodes not only the trust but also the goodwill you’ve worked so hard to develop with the customer. Why light the candle and cover it?

Respond to feedback and inquiries quickly

Related article: How Superior Customer Service Determines Your Business Growth

Many customers stand on the side-lines of the brands’ competition, undecided which one to choose.

If you get an inquiry about anything from an undecided customer, provide an answer quickly. It might unlock your chances of turning that bystander into a loyal client.

Research has shown that about 20 to 25 per cent of customers who wait hours for a response from a company, won’t purchase from that company again. This is according to Christopher F. (2017), in a study on auto dealers.

If a dealer responds in less than six hours, the study showed, the chance of closing a deal is significantly higher at 48 per cent, than for those who take up to 24 hours to answer.

Also, ensure to keep track of all your brand mentions. Customers may not be inquiring about anything, but they may mention your brand in their conversations.

So, knowing what they think about your brand is very important for you to tailor-make products or correct mistakes along the business value chain.

Go ahead. Soar in business by applying these time-tested strategies.