Customer loyalty is one of the cornerstones of any successful small business. The majority of revenue for almost any small business owner lies in in repeat business, and return customers spend on average 67% more than new customers. How can you ensure that your loyal customers stay that way?
The most effective way to keep people coming back is to offer an incentive for them to do so. Most customers also think that loyalty programs like online offers are the biggest difference-makers in terms of convincing them to come back. The best news for you is that retaining customers with online loyalty offers is far less costly than acquiring new customers. Communication is another key to creating loyal customers. Sending a friendly, personalized email to your customers is an easy and effective way to keep your business top of mind. Of course, engaging with your customers in a positive way both in person and online is one of the very best ways to keep them coming back. There are a ton of channels to do this with, and it’s extremely affordable thanks to sites like Twitter and Facebook!
Read the full article here: Customer Retention: 5 Best Strategies for Your Small Biz