A customer is central to the survival of any business entity. The make or mar a business. Hence, they deserve to be treated like a king if truly you want your company to stand the test of time. Working with existing customers is easier. And loyal customers will help in marketing your brand, most importantly for emerging market business owners by way of referral or online reviews.
Assessing Mood Of Customers
A customer relations expert, Caroline Entonu says, “Such brand must notice that its newsletter and marketing email open rates must have dropped significantly. The growth in the brand’s number of online or social network followers has slowed to a crawl. The click-rate for their digital ads has dropped off. All of these are signs that customers are disengaging from your brand.”
Retaining Your Customers
While proffering solutions to such challenge, she points out that, “Brand handlers should ask their customers what’s going on. They should be gathering customer feedback on every step of the customer journey, from marketing to post-sales support – so if they are not, they should start now. Then make sure to include survey questions that gauge where their customers are at the moment. Try to find out if they have stopped using a particular social media platform. Is their business growing so quickly they no longer have time to open marketing emails?”
According to her, “It’s a common (and smart) practice to offer new customers some kind of incentive to buy from your company. But go too far with this and you risk annoying your existing customers – and existing customers are by far the most valuable to your bottom line. Acquiring new customers costs five times more than satisfying and retaining current customers.”
To her, “Selling to existing customers is a smart business, but do so thoughtfully. Blindly throwing your products and services at them won’t get you very far. Survey your customers regularly and frequently to get a real-time understanding of their needs so you can make targeted offers to them. Gathering customer feedback and incorporating the results into your decision-making will help promote satisfaction, engagement and loyalty over time.”
While charging entrepreneurs to engage their customer service team to make sure customers’ needs are promptly met and with a positive attitude, she urges them to gather employees feedback as well as find out where there may be gaps in the processes.
On his part, marketing strategist, Paul Amodu suggests finding out what drives one’s customers. If one is touting low prices, but customers are primarily concerned with service, they are not meeting customers needs.