Let’s start this with an understanding of how business works. It’s not enough to have a great product or service, and there’s no one to buy it from you. You have to make sure your customers are in love with your business or brand.
Making consistent sales goes beyond having a marketing strategy. The challenge is how effective your marketing efforts are building your business into one that customers cannot do without. Making consistent sales is beyond having juggernauts like Seth Godin, Neil Patel, and Brian Dean as part of your sales and marketing team, or even employing their foolproof and proven marketing ideas. According to Neil Patel, for every customer relationship lost, you lose $289 on average. That’s an insane amount of money as you start to scale up your business.
Why do we think so?
Customer experience determines, to a great length, customer loyalty and retention.
This won’t be another blog post about what you are not doing right. Let’s channel the positive energy into three things that can be focused on right now. When done the right way, your business will not only be loved by your customers; they’ll make others fall in love with your business too.
Yes, that’s just how powerful these three areas can be. Before we get into it, have these numbers and statistics at the back of your mind;
- If it costs you $10 to retain an existing customer, you’ll spend $60 to $70 to acquire a new one.
- 59% of loyal customers are willing to tell family and friends about your brand.
- Customer service is considered by 65% of customers when trying to make a purchase.
Those figures should make you sit up and take notice of how much customers love your business.
1. Tapping Into The Magic of Word of Mouth Marketing
Word of mouth marketing is so valuable that numerous marketing books have been written on the subject.
Despite how valuable this is, many brands are not looking into this untapped goldmine. Or rather, many brands think marketing has moved away from what they termed as “archaic.”
Don’t be part of those who are not using this robust marketing strategy.
Interestingly, it’s quite easy to employ word of mouth marketing today. Influencer marketing has made it more straightforward to achieve this strategy. Just put together a strong storyline that will be shared by your influencers, one that aligns with your brand values and philosophies, let your influencer put out the world, and see how it goes viral.
That’s if it’s done correctly.
Don’t doubt this; word of mouth marketing is more effective than any known marketing tactics.
Consumers will trust the words of family, friends, schoolmates, colleagues, or even neighbours over what they see on TV or social media. This happens no less than 84% of the time.
Now to the magic of word of mouth marketing;
It does not just bring in new customers, but these customers are likely to become regulars right from their first patronage.
How do you now create this magic?
It’s actually very simple.
Ensure that no customer goes unsatisfied. When they are satisfied, they will not be able to resist the urge to praise you in the presence of people that matters to them. Try to really find that ‘wow’ factor to blow your customers minds.
Incentivise your customer to share how much they love your business, product or service with their friends and family by giving small discounts or rewards.
That’s how you create a spiral effect of loyal advocates of your business.
2. Build a Relationship With Prospects
Being a business loved by customers isn’t a one-time or seasonal promo thing. It starts right from the point when they are yet to spend a single penny.
Of course, every business has customers. What unsuccessful companies lack are loyal customers. To be a successful brand, you have to give ample attention to both prospects and existing customers
While you are tending to existing customers, have a thought as to what future customers are likely to lack.
To make sure you can focus on this, you need to have a strong sense of who your ideal customer is. Knowing who is most likely to buy from your business will enable you to create a strong target audience so that you can mould your efforts towards them. Consider questions like;
- What problems is that customer-facing that my product or service solves?
- Why is would that potential customer choose my business over a competitor?
- What extra value does my business add to that customer’s life?
The next step in building a relationship is to go ahead and convert them from being leads to customers. There is much sifting that occurs during this period; not all your ideal customers will end up converting – and that’s ok. We talk about ‘ideal customers’ but of course, we aren’t all clones. Every customer’s needs are different, and the reasons for them choosing you will vary too.
To get a positive result from your engagement with your prospect, provide a fantastic customer journey and experience. It should be seamless, laser-focused and straightforward to make sure they can commit without giving them a headache.
We are talking about one that they will find irresistible, and be left with no doubt in their mind.
3. Show Genuine Interest and Build Trust.
Let’s paraphrase the words of Bob Burg and John David Mann; you’ll command consistent patronage of customers that know YOU, can trust YOU, and like YOU.
Did you notice that the “you” are in capitals?
This is where the YOU effect comes into the mix. People buy from people; not in every case but even with large businesses such as Amazon, the company has it’s own ‘feel’, when you buy from Amazon you know the level of service and quality you are going to get. It’s almost instinctual.
When buying from smaller businesses we rely more on forming a connection to the brand or the people behind the brand. Too many single business owners hide behind a ‘brand’ or company name in their early days. To win the hearts of your prospective customers, you need to let them know about the human that is behind the business. The way you present yourself will reinforce either reassuring prospects and customers or fueling their scepticism.
Customers can smell bullshit a mile away, just because you have yourself convinced, doesn’t mean that you will persuade them, and that isn’t how you want to appear. Make sure you are genuine; people respect that far more.
Never let customers feel played, betrayed, or fooled. That will be the end of your business relationship; you’ll lose them.
Throughout the customer journey process, stay original and let your unique voice be heard and felt. Yes, that seems obvious, but you need to be more courteous to customers. Regardless of how frustrated you may be, stay responsive and warm. A word of note, however, don’t feed the trolls.
Engage your customers in a two-way communication as often as you can. Creating a dialogue with them is essential in building a lasting relationship.
While you are showing how friendly and helpful your brand could be, bring in a twist by showing them your human nature. The times you have failed and how you dusted up yourself and tried again. People relate well to seeing other peoples failures and importantly, how they recovered from them; none of us is perfect no matter how they portray themselves.
There are thousands of ways every business owner will suggest as to how they built customer retention and loyalty.
This means that there’s no one size fits all approach to customer loyalty. Take a cue from these approaches and develop one that suits and works for your business.
Copying other brands without personalising it for your business could be a recipe for losing what you have.
Ensure you use your own personality to relate to your customers. If you are passionate about your business, then it’s likely that those willing to pay for it will be passionate too. Instantly you both have common ground and have laid the groundworks for that customer to fall in love with your business.