Marketing strategies for the majority of modern companies are aimed at attracting new clients and increasing brand awareness. Surprisingly, a significant number of business owners and marketing specialists forget that returning customers might cost five times less than new ones.
This is why online shopping sites, delivery services, essay writing services (such as the WMEO company), and other B2C companies offer a discount to first-timers, invest millions in advertising, and frequently care less about the quality of their product and customer service. Therefore, they lose lots of money.
For B2B businesses, customer retention is even more essential, as the cost of each new customer is much higher than in the B2C field. Thanks to the tools listed below, a business owner can bring more customers back.
1. Provide Hyper-Personalized Customer Support
When you offer your services to another business, you’re not a seller or a buyer — you’re partners. To build a long-term relationship, collect information about your customers the way you gather information about your friends.
You should know their full name, date of birth, interests, tastes, etc. All of these details will help you to give each client exactly what they want, and they will return to you.
2. Act on Customer Feedback
Asking for feedback and collecting it isn’t enough. You have to give your customers something back: thank them if the feedback is positive, and offer a solution if they complain about a problem. The majority of the clients won’t apply to you again if you ignore their comments.
3. Offer Special Discounts
We like being special for someone even if this “someone” is our business partner. Who says that personalized discounts work only in the B2C world? For example, if you’re a representative of an agency, why not offer a discount to the companies that celebrate their anniversary? It’s like a birthday party but on another scale.
4. Become an expert and trusted adviser.
Customers don’t like to worry about every detail and check each of your steps. They want to relax and do their business while you’re doing yours. To build a reputation as an expert and trusted adviser, you can do a few things
- Create a blog on your company’s site to share valuable content with your audience and inform potential and current customers about your products.
- Organize free consultations and webinars to earn the title of a qualified professional.
5. Improve The Quality of Your Product
This might seem obvious, but some companies ignore the fact that advertising is only enough to grab the attention of customers. But it’s not enough to persuade them that it’s good when, in fact, it is of poor quality. Invest in your product, and the number of returning customers will increase.
6. Organize Professional Events
Professional events might cost a lot, but they’ll help you to achieve a range of essential goals:
- Stay visible.
- Build a network.
- Promote your service in a non-intrusive way.
- Remind your customers about how cool you are.
7. Make Exclusive Offers
Your returning customers are more valuable for you than new ones. Therefore, they deserve special services. Offer them something that new customers can’t get: exclusive features, bonuses, and discounts. Make them feel special, and they won’t leave you!
8. Surprise Your Customers
We enjoy presents, especially when they are unexpected. Wow your clients without reason, and they’ll become the evangelists of your brand!
Customer retention is no small matter, and every business owner should take it seriously. Use some of the tools above, and the results won’t be long in coming!