Repeat customers are your most valuable assets. They know your product, enjoy your services, and represent your most reliable source of revenue. In this article, we’ll examine why building loyal customers is critical to your success and we’ll look at concrete guidance to help you build a loyal customer base.
Loyal customers are the lowest cost contributor to your revenue. Loyal customers create profit predictability by creating a baseline of income over time which give you dependable month-to-month sales. By keeping customers coming back, you also cut the costs associated with winning new customers. In fact, research shows that retaining existing customers is anywhere from 4 to 25 times cheaper than acquiring new customers*.
According to Dan Allison, president of the consulting firm Feedback Marketing Group, “Nothing can be more cost-effective than referral-based business.” People are much more likely to take a chance on your business if a friend or coworker will vouch for the quality of your products and services. Thus, investing in current customers is a cost-effect way of attracting new customers.
After direct referrals, online reviews are the best source of attracting new customers. Impress your current customers and they’ll be more likely to leave a favorable reviews–building your reputation and reach.
Your loyal customers trust and like you. They want to see your business thrive. This means that they’re more willing to give you honest feedback, helping you grow and mature as a business.
Grow a loyal customer base by providing every customer with a positive experience. Every interaction a customer has with your business should be upbeat and memorable. No tool can do this for you. It has to be in your DNA–in the way you greet customers, take orders, and interact with employees.
Cultivate loyalty by building relationships with customers. Ask them about their lives. Learn their favorite products. Share business new and keep customers in the loop regarding new products and discounts. Familiarity goes a long ways to making customers feel known and valued.
You have a great restaurant and great customers. Use Vernaca’s proven marketing tools to share product news, announce events, and reach customers with visually compelling promotions. With our help, you can generate dependable revenue, attract new customers, and create the best possible version of your business.