Customers are the driving force in your business. Without them, you wouldn’t be able to survive. However, there is an increasing focus on attracting new customers, while it is more important to ensure you keep your existing ones. It is these loyal customers that can help your business grow by offering incentives, engaging with your customers, and getting to know them.
As attracting new customers can be quite a costly affair, let us take a look at some of the ways you can grow your business using only your current customers.
Offering More Products
Your company will likely use a supply chain to provide materials or products for you. Ask these vendors if they have anything you have not seen before.
If they have, there is a good chance that it will appeal to your existing customers. Especially if it can be used on or with an existing product.
Popular products can also be used to expand your brand into new areas. If you know your customers then you may know of an untapped area of the market that they will also like.
Engage With Your Customers
One way to ensure customer loyalty and retention is to find out what your customers like and engage with them more.
You can use various methods to achieve this such as social media and surveys. However, of these two, social media is the best avenue.
Your loyal customers will have good reasons for staying with your brand. Find out what these reasons are and ensure that they are maintained.
As an example, if you see that one of the biggest reasons customers stay is because of your outstanding customer service, then you want to make sure it maintains a high standard.
Reward Your Existing Customers
Many times you may see a company offering a special deal to new customers, but not their existing ones.
While you want to attract new customers, you shouldn’t ignore those that have helped you to this point. This is where rewarding loyalty can go a long way to retaining and improving customer loyalty.
Although loyalty programs are still used, they are not as popular as they once were. Customers are now looking for new ways for companies to reward them. Some large companies have taken the loyalty rewards and made them something their customers want.
Encourage Brand Ambassadors
If you have existing customers that are also influencers on social media, then recruiting them as brand ambassadors can be a great way to grow your business, but also use your existing customers to boost sales.
This will encourage existing customers who follow them to also buy more.
Brand ambassadors are also a good way to showcase new products and get feedback from your loyal customers.
Growing your business using only your existing customers is a real possibility if you approach it from the right angle. By knowing who your loyal customers are and why they follow your brand, you can not only build their loyalty further but also get an insight into how to attract new customers in the future.