There are a number of strategies to attract and retain customers. Building customer loyalty is the key to customer retention. If you are capable of attracting and retaining great loyal customers, you do not have to work as hard to find new customers. So how does one increase customer loyalty?
Develop Your Brand
How do you develop a brand? Branding is about your unique identity in the market. It is much more than a logo. It is related to the culture, philosophy, values, and personality of a business, product, or service. Branding is about what sets it apart and makes it unique. It answers the question: why should I buy from you when some other business offers something similar? It is better to be a specialist than a generalist. A specialist is focused on a handful of things, and does them well. A generalist tries to do almost everything. Focus your energies and your actions. Become the best at a small handful of things that very few others do.
Visibility is a key component to any successful business enterprise. You could have the best product or service, but if no one knows you exist, none of that matters. There are a number of ways to increase the visibility of your business, including: website, social media, business networking, advertising, and more.
Keep Your Customers Happy
Return customers are the key to any successful business. There are a number of strategies one can use to increase customer happiness, but at the end of the day, it is about solving the customer’s problem, and doing it well. Some fundamental strategies include: provide a product or service that people want, sell the product or service at fair market value, and provide reasonable help throughout the purchasing process. It is not about being the cheapest. It is about knowing what the customer wants, and fulfilling it. Some want great prices. Some want great value. Some want great customer service. Remember you cannot be all things to all people. Determine your underlying purpose and philosophy, and stick to it. Make sure a happy customer is part of the equation.
Be Aware of Trends
If you know what the future looks like, you can position your business to take advantages of changes in the market. Business is always changing. As things shift, you would rather be in front of rather than behind the wave of change. Do your homework. Be aware of trends. Be aware of laws and policy changes that might affect your business. Understand how and why public opinion shifts. Be aware of these changes, and pivot your business to be in the best position when things inevitably change.
Know and Target your Market
- Who is your audience?
- Who buys your product or service?
- Do your best to understand your clients.
- What do they want?
- What do they like?
- What are they willing to pay for it?
- Where do they hang out?
- What are their hobbies?
The better you understand your clients, the better you can target them with specific information regarding a product or service. Concentrate your sales and marketing efforts on those who are most likely to buy.
The Bottom Line is the Bottom Line
At the end of the day effective sales and marketing is about attracting and retaining customers. If you increase the number of people who buy regularly from you, sales increase. If sales increase, profits increase. This means you sell more stuff and make more money. Effective strategies are about results. They are about demonstrating that these actions improve the lives of many.
1040TaxBiz marketing classes can help you grow your business by teaching you how attract and retain clients. Ask for a Skype chat to learn more about all of 1040TaxBiz’s services here.