Are your customers rabid fans? Why not? Some startling new research put out by the U.S. Small Business Administration should leave you rather sober if not downright shocked. While the SBA found that just 14% of customers have left a company because they were unhappy with the product, a whopping 68% left a business or company because they felt that they were not properly appreciated. While that may startle you, it really shouldn’t.
- This year is the year to stop the attrition. You can’t afford to lose customers for any reason. If you just have a volume minded, wham-bam attitude, then you will not be in business for long because your rivals will easily step in and welcome your disaffected customers with open arms. Loyal customers are the key to your growth and longevity. Treat them right from the very first sale and they will keep coming back. And, they will bring their friends and social network with them.
- More current research has revealed why it is so important to turn those customers into rabid fans who continue to come back. The research states that your loyal fan base will buy from you 90% more often than any new customers will and they will spend an average of 60% more each time they buy from you.
- Again, loyal customers will give you word of mouth advertising that you simply can’t buy. They become raving fans and instant influencers for you whether it is in casual conversation with friends or spreading the word via their social media networks. In addition, when you do screw up, and you will, your rabid fans will be more inclined to let it slide because they know that you treat them well and will realize that the occasional slip up does happen even to the best of companies.
- Plan ways to remind them that they are special. Hold events that are only for them. Everyone likes to feel special and appreciated. Start some manner of loyalty program be it gifts, discounts or special products and services that only they can get. There are so many inventive ways to ensure that your customers feel appreciated. Start doing it today and you will soon see how having rabid fans is so much better, and so much more profitable, than just having regular old customers.
-Written by Kevin Sawyer