3 Steps to Creating Loyal Customers


How to ensure that your customers aren’t going anywhere.

Every business owner should know that the lifetime value of a returning customer is far greater than the value of a new customer. While acquiring new customers presents the opportunity for you to increase your lifetime customers, it’s important that you prioritize your energy appropriately. Of course you can pour resources into attracting new customers and working to make them happy, but you must not forget the customers that you have already won over.

Instead of focusing solely on new customer acquisition, take advantage of your current customers, who can be converted to lifetime customers in a few simple steps.

Justify Your Price

From the customer perspective, price is one of the most important variables in their purchasing decisions. If competitors all offer the same product, with no differentiating factor, their decision will come down to price, focusing their loyalty on whichever brand offers the best discount. Instead of relying on a price war to determine your customer’s loyalty, try justifying your price and differentiating your brand. Even if your price is higher than others, customers can be convinced to spend more on the right product.

Excel in Customer Service

The easiest way to drive a paying customer away is to treat them poorly when they are looking for help. Whether you are ignoring their requests, or avoiding their problems, you risk losing a customer if you aren’t available to solve their problems with your product. In order to keep your customers happy and coming back, it’s essential that you excel in your delivery of customer service.

Evolve With Your Customers

Having faithful product following is great, but what happens when your product becomes a thing of the past? Instead of giving up and letting your customers find the latest product, try evolving with your customers’ needs. If you know that your product has had its moment and customers are searching for the next great product, keep their business by offering a new product extension, or repackaging your product to encourage a new excitement.

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