Can you think of business to which you are regular, repeat customer? Why? What does that business do for you to make you loyal? Is it extraordinary customer service, quality product, personalized service, all of the above? For me it’s Dick Ponds, my local running shoe store. They understand my needs, have a great staff, extend special offers and keep me well informed on the latest trends and information on running. For small businesses, building customer loyalty translates to big business.
One of the keys to building customer loyalty is through consistent communication. In my case, the running store keeps me informed through frequent, yet well-timed communications through both direct mail and email. Regular communication with your clients and potential clients is an opportunity to position yourself as an expert in your field which helps people feel more comfortable spending money with you. A recent study from Experian showed that email campaigns targeted to current loyalty program members have 40% higher open rates compared to bulk campaigns. No matter if you have an online business or a regular brick and mortar store, staying connecting with your existing and potential customers is a good approach to grow your business and develop loyalty.
For more information on building customer loyalty in your small business, download Experian’s white paper, “The Loyalist: Leverage relationships with existing customers to increase return on investment.”
