The best way to increase your business on the web is to have a solid internet marketing plan. You can draw an enormous number of new customers to your website by choosing and optimizing for the right SEO keywords, creating engaging content, and forming well-structured ad campaigns. OrangeSoda is one of the best companies to help SMBs find new customers via the web… but, how can you ensure that these newfound customers keep coming back?
Know your customers
The scary thing is that there is no magic answer. The solution is unique for every business. That is why it is vitally important to be in constant contact with your customers.
What are you doing right now to discover what your customers love about you? What do they expect from you next time they visit your store? Are they satisfied with your customer service, your website structure, and your product selection? What do they wish you’d change or improve?
Retention is always cheaper
Spending your marketing dollars solely on obtaining new customers is foolishness. Acquiring a new customer can cost 6-7 times more than retaining an existing customer. Creating loyal customers from your existing clientele will not only cut costs and provide recurring revenue, but it will increase profitability and improve word of mouth.
If you don’t have a plan in place to listen to your customers, there’s no better time to start than now. Your plan should include the ability to collect relevant data from various sources (web surveys, phone surveys, social media, home page feedback, etc.), the means to analyze the data effectively, and the capacity to report it to the people who can take action in a timely manner.
Take a proactive role in customer feedback
If you’re not proactively listening to and responding to customers, you run the risk of permanently losing their business. A simple issue, gone unresolved long enough, can drive away significant business.
Often times, all it takes is an apology to save a customer, but if you don’t recognize there is a need for an apology, or if you wait too long, the opportunity (along with the customer) is lost.
A small effort in customer retention can go a long way. For example, Bain & Co. reported that businesses who boosted customer retention rates by as little as 5% saw increases in their profits ranging from 5% to a whopping 95%.*
Reach out to your customers at every opportunity. Using a Customer Feedback platform like Mindshare can help you do this. Ask them meaningful questions, follow up with any complaints, and use positive customer feedback to make giving props to employees a part of your culture!
Marketing to new customers is valuable for any business. Listening to your customers to keep them coming back for more is what makes a good business great.