Your customers are key to maintaining and growing your business. In order to thrive and bridge any dips you need to consistently attract new customers as well as look after existing ones. In fact a successful business will find 80% of its business comes from 20% of its customers. While you may experience peaks and troughs in their numbers as a result of an evolving consumer landscape, expanding and retaining your customer-base and their loyalty should be the core to your business and marketing strategy – safeguarding the future profitability of your company.
To help your brand prosper and increase its customer-base, we’ve put together our top five tips:
- Be transparent. Consumers’ are increasingly concerned about where their products or services come from. Ensure product information is readily available on all your channels and labelling is clear and precise, so your customers can make an informed decision about purchasing your product or service. Even highlighting your businesses’ heritage, how your product or service is sourced and emphasising your sustainability methods can all help to inspire trust in your business. At B.Fresh, we’ve found explaining that we grow our own leafy greens and vegetables for our juices highlights they’re fresh and nutritious while giving us an extra edge over our competitors.
- Examine your customer service. Outstanding customer service is not as commonplace as it should be, despite being the crux to attracting and maintaining customers. In this digital age, consumers increasingly expect almost instant responses to their queries, so make sure you have all bases covered as well as a clear and accessible means for your customer’s to contact you. You should also evaluate your customer service strategy to identify any improvements and ensure customer queries are being resolved quickly and in a tone reflective of your brand.
- Maintain customer loyalty. Earning your customer’s respect is crucial for the future growth of your business. Getting to know them is one of the simplest methods to gain this. Keep them updated on your business plans and any upcoming developments – if they understand your brand story and ethos they are potentially more likely to choose you over a competitor. Even sending Christmas and birthday cards can help to show that your business appreciates its customers and is committed to them.
- Consider charity work. More and more consumers are influenced to buy from brands that care about their social responsibility. Therefore consider putting in place various initiatives to promote your business’ commitment to its social and environmental impact, for example volunteering, giving profits to charity or using recyclable materials. This way your consumer’s feel good about purchasing your product or service, while helping to potentially increase your company’s profitability.
- Refresh your brand. As your brand evolves it may be worth looking at how your business is perceived and whether it reflects the next chapter of its growth. This doesn’t mean totally rebranding, but giving your business a makeover. Whether updating certain areas or creating a new tone to add value, this can project a vibrant, innovative and modern image as well as showing your existing customer-base that your business is evolving to meet their growing needs. It’s also an effective means to encourage new consumers to try your brand.
The success of your company all depends on the happiness of your customers. Therefore you need to give them a reason to choose you to ensure your business’ longevity and profitability. Putting in place a combination of initiatives and evolving your business through changing landscapes can all help to strengthen brand loyalty along with encouraging word of mouth. By doing so your business can continue to appeal to your existing customers as well as attract new ones.
By Philip Maddocks, Managing Director of B.Fresh