So much attention is placed upon bringing in new customers these days that strategies to retain current customers have fallen by the wayside.  Most small business owners would agree that loyal customers are what fuel their bottom line, so it goes without saying that developing relationships with potential long term customers can significantly impact your revenue.  Utilizing strategies to create customer loyalty and improve the image of your brand is a worthwhile venture that can provide your business with steady long term income.    While bringing in new customers should always be part of your plan, maintaining those that have already displayed a fondness for your wares is equally, if not more, important.  Repeat customers become evangelists for your brand thus providing you with invaluable word of mouth advertising.  A loyal customer base also brings about the perception of quality which can impact how potential customers view your brand.

Maximize Feedback

With so many avenues for customers to provide review and feedback these days there is no shortage of testimonials or complaints about almost every company.  Whether it’s good or bad feedback there are ways you can leverage these comments to improve your image.  If someone gives you a bad review you can take that as an opportunity to strengthen your company.  Advertising the negative while explaining the steps you’ve put in place to make things better will show your company’s willingness to listen to their customers.  Conversely, if you receive a good review you can take that opportunity to use it as a testimonial to your great products and services on your website and throughout your social channels.

Customer Support From Executives

So much of customer services has been automated these days and while this can increase response time and lower costs there is no substitute for a personal touch.  While many owners delegate customer service responsibilities to lower level employees, it’s important that your management team be involved.  Rather than an employee providing a cookie cutter response or an automated message, a response from an executive member will convey greater sincerity and authenticity.  This also eliminates the need for a customer to speak with multiple people before resolving their issue or question.  Proper training on how to manage customer questions or complaints is essential to retaining loyal customers.

Share Your Resolutions

If you’ve developed a one off piece of content to address a particular customer’s need, it may be valuable to other potential customers.  Taking the information and suggestions you’ve provided to a client and converting it into an Ebook or blog is a great way to diversify your content and develop a reputation as a thought leader and problem solver.  Educational content not only shows off these attributes, it can be used as a lead generator by placing a call to action within the content.

Customer Centric Business Model

As with any aspect of small business, retaining customers starts with a solid plan.  A customer centric business model where the wants and needs of your customers take top priority is becoming very popular in today’s business world.  Fair pricing, evolving product offerings and impeccable customer service are three main points you’ll want to focus on when developing your plan.  Getting to know the habit, likes and dislikes of your ideal customer will help you to mold your strategy.  This can be done through surveys and even interviews with current customers.  Customer rewards programs and coupons are also an integral part of a customer centric business plan.

Change For The Better

When it comes to small business change is inevitable.  If you’re finding that your customer base has a lot of turnover it may be time to take the steps improve your retention.  This may include implementing new policies, making improvements to your storefront or adding new/more staff.  While policy changes come at little to no cost, other necessary improvements can require a significant investment.  With cash flow always at a premium for small business owners, you may want to consider a merchant cash advance from Quikstone Capital Solutions to help your company increase its customer loyalty.