Customer retention is extremely important to a small business, because it keeps your customers coming back to buy more of your products or services, rather than forcing you to go out and find new customers. As almost any small business owner can attest, the cost of acquiring new customers is extremely high, so that makes retention a much more appealing option. Here are some things you can do to retain your customers, rather than allowing them to go to a competitor.

Strategies for retaining customers

Studies have shown that the longer customers stay loyal to your company, the more your profitability will increase with each of those loyal customers. That being so, here are some things you can do to enhance customer retention:

  • Provide extra value – if you give the customer more than they expect, and provide them with what they truly need and desire while doing so, they will be very appreciative
  • Become an authority in the field – if you establish yourself as a trusted authority in your marketplace, customers will develop great confidence in you
  • Provide proactive customer service – if you can anticipate customer needs before they even make a request, you’ll be way ahead of the game
  • Use the social media – making connections with your customers through the social media can be priceless, because it attaches a person or a face to your company rather than having it be a faceless corporation
  • Personalize your service – you can strengthen your customers’ attachment to your brand by personalizing service at every opportunity
  • Manage customer expectations – it’s best to set customer expectations somewhere in the middle to start with, so that you can rise above that level and provide superior service that will really be appreciated
  • Build trust at every opportunity – whenever an opportunity occurs, build trust with your customers so they know you can be relied upon. Some good ways to do this are by being active in the community, promoting popular local trends or movements, and by providing discounts on items that your customers find most appealing and necessary for daily life.

Let GrowthCC help you with customer retention

If you need the funding to enhance your customer retention program, let us work with you to make that become a reality. Contact GrowthCC at your earliest convenience, to learn about ways we can work together on retaining your customers.