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Retaining Existing Customers Add to toolbox

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The way to retain your customers is to make them loyal, which means they will always think of your business first when wanting to buy a product/service such as the one you offer.

You want to do this as a small business because:

  • These customers will always come back to buy again (they are your consistent revenue)
  • They help to spread positive recommendations about your business
  • Keeping customers is around 10% of the cost of acquiring a new one

Keeping hold of your customers is a different to acquiring new ones. Here are a few techniques you can use:

  • Ensure when your returning customers contact you have all their relevant purchase history and details by hand, as it can be a very frustrating experience for customers to contact a company in case of an issue or to make a return purchase and have to provide the same information again.
  • Find out about your customers buying habits so that you can target them at the most effective time, when they are about to make a purchase again.
  • Ask customers for feedback, which can help you tailor different products/services you may want to offer them.
  • Ensure you or the team you create are fully trained/skilled in dealing customer complaints and queries. 71% of consumers have ended their relationship with a company due to poor customer service.
  • Try to make your customers’ lives easier for example by making your product/service even easier for them to reach, for example offering your service/product online if it was not available there before.
  • Always keep your promises, or under promise and over deliver, this will please them and make them appreciate your business more
  • Provide useful information your customers may need, for example if you’re selling cameras you may want to put together a guide on how to take high quality professional images and offer it on your website
  • Try to personalise your product/service – “Remember that a man’s name is to him the sweetest and most important sound in the English language”. – Dale Carnegie
  • Provide added value, through discounts or Loyalty cards
  • Provide rewards to most valued customers
  • Refer a friend for vouchers/money etc schemes
  • Create similar or complementary products/services to encourage customers to buy more from you, especially if your product/service is seasonal

 

 

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