Did you know that a successful business sees 80% of its profits come from 20% of already existing customers?
Many businesses are so caught up on acquiring new business, that they neglect their current, loyal customers/clients. Not to mention that the cost of attracting new customers/clients can be significantly higher that the cost of keeping current ones happy. So how can you keep your existing customers coming back?
Building brand loyalty can be done in many ways – by building a recognizable brand that stands apart from your competition, by providing exceptional customer service, and by marketing directly to that 20%. What are the products/services that these 20% buy most frequently? Where are these consumers located? How can you make their purchasing process a little bit easier? It is important to identify who your key 20% are and treat them extraordinarily well – with nice holiday gifts, providing an extra service at a discounted price, or by providing other 'loyalty benefits'. By collecting data on your customers through point-of-sale records, loyalty cards, etc., and by identifying their purchasing habits, how much they spend, and more, it becomes much easier for you to determine when and how to market to these precious few.
Need a refresh of your existing brand, including your logo, the tone of which you communicate to your target audience? Want help developing a strategy for retaining customers? Do you want to set up a customer loyalty system? We have the tools to help you.