Ryan: Is it cheaper to sign a new customer? Or to keep an existing customer?
Dwight: Keep an existing…
Michael: [to Dwight] Shut, it. Can I… can I just do it please? [to Ryan] Uh, it’s equal.
Ryan: It is ten times more expensive to sign a new customer.
Michael: Okay. Yes! It was a trick question.
In this classic exchange from The Office, Michael was wrong (as usual). And the figure, according to the Harvard Business Review, is that can even be up to 25 times more expensive to sign a new customer. It’s always in your best interest to earn your customers’ loyalty rather than to focus too much on getting new customers.
And it makes perfect sense – when customers come back at a high rate, you don’t need to spend nearly as much on marketing costs. Also, happy customers are more likely to tell their friends or family about your goods or services.
It’s quite simple – happy, loyal customers are better for your business. So how do you keep your customers coming back? Well, the first step to retaining your customers is to give them a great first impression. This starts with buying a domain name. Next, follow our 4 tips to keep your customers coming back.
1. Make it easy to work with you
A great way to bring customers back again and again is to give them a positive impression the first chance you get. Think of it like a first date – if your first date goes poorly, you probably won’t get a second one, right? First impressions are the same in business.
When you first interact with your customers, do everything you can to ensure it’s a positive experience. If it is, they’re much more likely to return. The first experience should be personal, interactive, and most of all easy. People tend to take the path of least resistance – not only in physical spaces such as walking paths but also when navigating user interfaces. If interacting with your brand provides a lot of points of “resistance,” your customers will be much less likely to return.
If you conduct business online, your website will likely be your customers’ first experience with your brand. To give your customers a good experience on your website, remember these key considerations:
2. Listen to your customers
Another great way to retain customers is to get feedback on what your customers like and dislike about your business. Then, you can do more of the things they like and less of the things they don’t like (duh).
There are many customer survey products out there, but you really don’t need to get that fancy. The key is to simply give the customer an easy opportunity to share their feedback with you (whether by email, phone call, or app notification). Making this message personal shows the customer that you care about their feedback and are sincere in using it to improve your products or services.
Gathering feedback from customers can also be a good way to keep a touchpoint on your customers by thanking them for their business or informing them of other products, services, or even promotions you’re offering. This leads to number 3.
3. Stay in communications with your customers
Look at your existing customers as a major group to focus your marketing efforts. In today’s world, we are constantly bombarded with hundreds to thousands of options for where to spend our money. Keeping your brand top of mind for your customers is essential.
The best way to do this is through email marketing campaigns, promotions, contests, social media engagement. Another way to stay in your customers’ minds is to produce high-quality content in your industry. This one is overlooked by many companies – but it shouldn’t be! It is a real added value to your customers’ lives (and it’s completely free for them!) Doing these things might not lead directly to sales, but it will keep your customers engaged with your brand, and going to your website to potentially find out about new products or services being offered (or to remember why they purchased from you in the first place).
With this tip and every other tip, always remember number 1 – make it easy! Every interaction you have with your customers should be smooth and as easy as pie.
4. Reward your most loyal customers
Customers love to feel special, so make them feel special! Make them feel like they’re part of a club, and they’ll keep coming back.
Some simple things you can do to reward loyalty:
All of these make your customers feel special – like they’re getting a great deal. And they’ll remember you gave them that feeling.
Make Saw.com a Part of Your Customer Retention Plan
As discussed above, the first step to retaining your customers is to give them a great first impression. And the best way to do that is to start off with a high-quality, memorable domain name. Get started on your way to keeping your customers happy by making that first step and buying a domain name.
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