There are a lot of things that go into making a small business successful. But one of the most important things is customer retention. If you can keep your customers happy, they will keep coming back to your business – and that’s what we want, right? After this, we’ll uncover some customer retention strategies that work for small businesses together.
Did you know that customer retention is one of the most critical aspects of small business growth?
It’s true! If you can keep your customers happy, they will keep returning to your business again and again. But how do you do that? That is exactly what we’re going to cover now.
Hi, I’m Doug Barra. I’m a business coach and a business owner myself. I have had the honor, privilege, and responsibility of working with owners of small, local businesses like you to transform what business ownership is. I am so happy and grateful to have been doing this for the last 16 years. You see, I believe you are one of the most courageous people I know!
Putting yourself on the line every day, chasing your dreams, and overcoming obstacles most people would never even attempt is not for the faint of heart. But you do it! You are a risk-taker, and I admire that about you.
So today, I want to talk to you about something important to all business owners: customer retention. Because at the end of the day, we are all in the same business – no matter what particular widget or service we sell – we are all in the business of buying customers and keeping them for as long as we can.
There are a lot of things that go into customer retention: from providing excellent customer service to offering competitive pricing. But one thing is for sure: happy customers mean repeat business. And repeat business is essential.
One customer retention strategy that can work for your small business is to provide excellent customer service. This means going above and beyond for your customers and ensuring their needs are met.
This can include responding to customer inquiries quickly, resolving problems quickly, and providing excellent customer support. Doing this shows your customers that you care about them and their satisfaction. And happy customers mean repeat business!
Another customer retention strategy is offering incentives to customers with loyalty to your business. This could be in the form of discounts, coupons, added value offers, or even a loyalty program. A loyalty program allows customers to earn points for every purchase they make. These points can be redeemed for rewards such as discounts, coupons, or even free products or services. This is a great way to show your customers that you appreciate their business and want them to keep coming back. It also encourages them to shop with you more often.
One of my favorite ways to incentivize customers is to offer added value. This is when you offer for them to add things of great perceived value where your costs are low. This is a great way to show your customers that you want them to save money and that you’re willing to give them a good deal. It also encourages them to buy more products or services from you.
Finally, another customer retention strategy is simply staying in touch with your customers and keeping them updated on what’s going on with your business. You can send them regular emails, updates, or even a customer newsletter. This helps to keep your business top of mind and shows your customers that you appreciate their business.
By staying in touch with your customers, you build trust and loyalty. Remember: happy customers mean repeat business!
So there you have it: some customer retention strategies that work for small businesses.
By providing excellent customer service, offering incentives and discounts, and staying in touch with your customers, you can show them that you appreciate their business and encourage them to come back again and again.
What are some customer retention strategies that have worked for your small business?
Share in the comments below.
Are you interested in learning more about customer retention strategies or other topics essential to growing your local business?
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I’m Doug Barra, and I’m passionate about helping small businesses succeed.
Thank you for watching. I’ll see you in our next video.