The Story of Steve
Let’s be frank, at the end of the day your business has TWO types of customers.
On the one hand, you’ll find the repeat customer. The one who would take no shame in switching brands after finding a better deal elsewhere; on the other hand, you’ll find the brand loyal customer. This individual, this ever prized customer, (we’ll call him “Steve”) consistently returns to purchase your product without fail and is fully engaged in everything your business has to offer.
Steve loves the quality of your product. He likes the way you operate and your company values align with his. He appreciates the customer experience he’s been given. And he definitely approves of the robust and dependable construction of your product. Steve appreciates your excellent customer service and the values and beliefs of your business. All’s well and good with Steve, and he’ll be sticking around for the long haul, regardless of availability elsewhere. But he’s not in the majority.
According to Forbes Steve and his brand loyal customer compatriots make up around 40% of your customer base. They’re the foundation of your business, and this minority pulls in the majority of your revenue.
That said, how do we retain the other 60% of repeat customers AND also keep Steve coming back for more?
1. Offer them a transparent experience through Social Media
Organic content is appealing and interesting. Promote your beliefs and values; playfully illustrate what you have to offer by limiting advertisements. Focus on the benefits and special features of your product, and create social media posts that creatively showcases them.
It’s also vital that you take the time to respond thoughtfully and with tact to customer feedback or questions on these platforms. After all, the more you know about the customer, the better you can serve them. No one likes to be deceived; so be honest, interact with them regularly, be friendly, courteous, and most importantly… be open. Our loyal customer Steve gravitated to your company because of your openness, your transparency, and your powerful underlying message. The more you showcase these traits on social media the more reliable your brand will become, and the more trustworthy and dependable you’ll appear to customers.
2. Utilize monthly newsletters and offer rewards
Consider a monthly email or newsletter that showcases your product and provides a substantial discount to loyal customers. This could even mean offering a segregated loyalty program with special offers and rewards. Nothing breeds loyalty faster than the opportunity to save some money on a quality product; once you’ve shown customers a quality experience once, offer them plenty of incentive to return.
3. Own up to mistakes
Customer feedback is incredibly useful; it provides you with a direct critique of what you did well and what you can improve on. The former is always pleasant, but when facing negative reviews or bad publicity it’s far better to acknowledge mistakes, remain transparent, and openly take steps to remedy the situation. This positive attention will get noticed, regardless of how uncomfortable it may be, and customers will feel appreciated and prioritized.
4. Offer a personalized experience without automation
In a world of automated messages and emails, be different. Take pride in your customer service; provide the option to interact with a real person. It’s important to note that while automation may save you money, well-trained customer service representatives build brand loyalty. These individuals connect with customers to provide a personalized experience that is memorable and in-depth. Spend a little extra here, and reap the rewards later.
5. HONESTY! Always remain transparent
I eluded to this one earlier, but its importance cannot be understated. How is your product produced? Is it ethical? Do you make sustainable decisions? Customers will take these factors into consideration when deciding between brands. If you show this information readily, you show just how open and honest your company really is. Your audience will appreciate this and realize the reliability of your brand.
Setsail offers in-depth consulting, marketing, design, and social media campaigning for any business or personal venture. Take a look at our work, and the services we offer here.