One of the things all successful small business owners will tell you is that to generate more revenue; it’s either important to find more customers or keep existing customers happy enough to continue buying more. Since small businesses by their nature have a rather limited market reach, it’s more cost efficient and perhaps easier to build value by investing in existing customers. The key is creating and fostering an environment where customers continue to be loyal to your brand, and that’s a worthy investment in the future of your business.
We discuss four very simple and yet effective ways a business can build value for existing customers to help keep them loyal.
Personalize the experience
Everyone likes to do business with people they can see and speak to, that’s of course if you’re not a mega corporation like Tesla or Apple. So, you and the employees need to focus on building a strong relationship with the client or customer beyond just sales and making a transaction. Take for instance a small diner. The diner employs a few servers, but every one of whom can identify and refer to customers by name. So, simply asking “Mr. Adam would you like more honey with your waffles” is a lot more personal than saying “Sir would you like more honey with your waffles.”
By training your staff to personalize the experience you’re in fact investing in the customer.
Build value by delightfully surprising customers
Customers and clients alike respond to genuine feelings as opposed to turn-key promotions. The more genuine your surprise is, the better they will feel about your business as well as you. Computers make it easy to track how many times a customer has visited your establishment. So, after a certain number of visits the dinner, lunch or breakfast can be on the house. And it does not have to be a product or service you offer. If you’re running a diner, you could throw in a free customized keychain, diary or something else that your customer will use and value.
Thank customers for being loyal
Everyone likes to be thanked. So, it stands to reason that you should thank customers that frequent your establishment. That “Thank You” can add even more value if it’s via a small note like “Thank You, Mr. Adam, for Visiting Us Once Again. We Hope You Enjoy the Dinner.” You can also build value by throwing in a gift card. It does not have to be expensive yet should thank the customer for coming back and doing business with you.
Don’t lose sight of your brand
The most value is offered with quality. Build value by investing in providing a quality service then customize that service to each customer. The bigger your brand grows, the more customers you’ll be servicing, and the investment is keeping track of their needs, feedback, and desires. However, regardless of the promotions and courtesy if the quality of your food, product, or service is not good, you’ll lose business. So, the first rule of building value is to offer a valuable service, then top that off by reinforcing the fact that you care about customers and clients.