Most businesses put all of their focus on acquiring new customers. Social media posts, marketing campaigns, ads and all the funnels that a business has are built around the first contact and purchase by a customer.
While driving more customers to your business is a good idea, it shouldn’t be the only effort that you make.
But the real profit your business can make isn’t just in the first transaction; it can be in the ones that follow after.
If you want your business to be sustainable, then you need a smart strategy that turns one-time buyers into a long-term and loyal customer base. Retention increases lifetime value, lowers customer acquisition costs and can help you to build predictable revenue. Customers will spend more money over time, refer you to others, trust your premium offers and provide positive reviews. It doesn’t have to be your whole budget, but a balance of focus between acquiring new customers and keeping your old ones is key.
To help you on your journey, here are some top tips to help you make it happen.
Deliver an excellent first experience
The first experience a customer has with you has to be unforgettable, as first impressions are going to shape the basis for long-term loyalty. What happens right after they make their first purchase from you will determine whether they come back or not. Your business shouldn’t relax or stop after the sale. Instead, consider how you can be proactive. Can you check in after the delivery, send a thoughtful thank you message, offer proactive support or provide clear instructions for onboarding? Consider how you make them feel after the sale.
Create a clear journey
Make sure the path beyond the first purchase is clear and easy to follow. If they don’t know what to do next, then they won’t do anything at all. You want to design a path that will naturally lead them to another purchase. Anticipate their next need before they know it themselves. When it flows well and feels logical and helpful, you will easily win them over. For example, if they have completed a service, can you offer ongoing maintenance? If they purchase a product, are there complementary items or deals you can offer them?
Personalize the experience
Personalizing the customer experience will go a long way. Leveraging artificial intelligence (AI) and technology can help you to analyze buying behaviors, segment customers based on interests, trigger follow-ups and recommend relevant products.
However, when using tools like AI, it is important that you find the right balance. Too much AI, and not enough of the human touch, can have the opposite impact. Vida’s insights on balancing AI and human service in CX can help you to create a good, balanced strategy to support your customer growth and retention. It should be used to enhance relationships, not replace them.
Turning one-time customers into a long-term, loyal customer base can go a long way, but it doesn’t happen by accident. Follow these top tips to help you get started.
