How to Attract Customers. Flickr image by Sue Ming Lee
I read this article recently that analyzed why Friendster died…
"So if a big fraction of people on a network have only two friends, it is highly vulnerable to collapse. That’s because when a single person exits, it leaves somebody with only one friend. This person is then likely exit leaving another with only one friend and so on. The result is a cascade of exists that sweeps through the network."
And I thought to myself, that this is a problem that every business faces – increasing customers or at least retaining those you have.
These are the only 3 ways to increase sales:
- more customers
- higher purchase frequency
- high purchase amount per transaction
- charge higher price
These are issues every business experiences from the moment they open.
So I was surprised that another article highlighted that one of the biggest challenges in 2013 for B2B businesses is…
"Retaining customers. Fostering customer loyalty. Then, turning those customers into advocates. Rinse. Repeat. Instantly fabulous. Wait—it’s not always that easy?"
Isn’t this a perennial issue and not just for 2013?
So, how do you actually retain customers and make them advocates?
It all boils down to building an awesome reputation that is derived from a fabulous customer experience.
If you really want to create a better product, service or company create a better experience and wrap it around what you actually sell.
So don’t fuss about the product, focus on the customer’s experience. Build loyalty and they will tell their friends who will flock to your business.
This guy has hit the nail on the head by repeating what I’m been saying, that your reputation is your brand - 4 Lessons On How Customer Service Is Your Brand.
And loyal customers don’t need discounts and sales to return according to this article - Loyalty Drives Consumers More Than Discounts, Deals, Content.
Nothing surprising here.
Loyal customers return to buy from you, because they enjoy how you make them feel before, during and after the purchase.
They can sense through your customer service, how you value them.You don’t need to bribe them with low prices.
In fact when you have loyal customers, you can actually raise your prices, because your reputation will support the higher prices.
One of the best ways I know of increasing customer loyalty is to actually ask them. I believe very much in surveying your customers regularly.
Natalie Brandweiner writing in My Customer says...
"As more businesses are joining the trend to redefine themselves as customer-experience driven, understanding customers and what satisfies them has become crucial for success. Customer feedback surveys, thought to retain customers and drive revenue, continue to be used as the main tool to measure experience."
Everybody loves to be asked to give feedback about their experiences. Use this to mine their mind.
So make building your business reputation the No. 1 aim of your organization and the customers and money will flow. Think of this as you go about your day…
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