In the world of today, it is becoming increasingly hard to retain customers because the marketplace is extremely crowded. Back in the days, brands could boast of doing nothing all year round to retain their customers yet have their profits shoot off the roof. That trend has drastically reduced these days. Now, brands work around the clock designing and implementing strategies to make customers stick with them.  

As a business owner who wants to build a profitable brand, you must also work hard like the big brands to ensure you do all you can to make your customers stick with you.

When I started my brand 5 years ago, one of the metrics I focused on was and is still my churn rate. Churn rate is defined as the percentage of your customers or subscribers who cancel or do not renew their subscriptions during a given time period. This is a critically important metric for companies whose customers pay on a recurring basis. Regardless of your monthly revenue, if your typical customer does not stick around long enough for you to at least recoup your average customer acquisition cost, you are in trouble.

[Read: Here are the Top 3 Reasons Why You Don’t Have Repeat Customers

Making Customers Stick with You

Many business owners I have interacted with erroneously think it is an uphill battle when it comes to making customers stick with them. While that might be true to a certain extent, I can also ascertain that making customers stick with your business is not as hard as it sounds.

[Read: New to Blogging? Here are 10 Steps to Launching a Successful Blog]

 In order to make your customers stick with your brand, you must:

  • Ensure that you exceed the level of excellence you started with or at least maintain it: If you start on a good note and over time you begin to “water down” the quality of your goods or services, be sure that your customers will find the next available brand to do business with.
  • Care greatly about your customers: The one thing many of your customers are looking for is your care and genuine interest in them. Whether it’s helping them save money, offering them quality advice that can help them advance their lives or even getting to know them personally, you will go a long way to earning their trust and ultimately loyalty.
  • Admit it when you are wrong: This is one of the hardest things to do ever yet when you humble yourself and not only admit it when you are wrong but also take it a step further to apologize, you will find out that most of your customers will stick with you for a long period.
  • Grow with the trend: It is important as a business owner not to lag behind when it comes to trends and updates in your industry. If your customers know they can get firsthand information about your industry from you, they will be willing to stick with you for a long time.
  • Communicate effectively: One of the things that your customers wish you could do more of is communicating effectively. Each time you need to make changes in your business or you have new updates, be sure to communicate it promptly and watch your customers stick with you.

[Read: Practical Ways of Reducing Your Overhead Costs and Increasing Your Profit Margins]

Making your customers stick with you is not rocket science. It only requires that you are intentional about it. Implementing these steps one day at a time will lead you closer to your dream of making your customers stick with you despite a crowded a marketplace.

Thank you for reading. What other strategies can a business owner adopt to allow customers stick with them? Your opinion matters. Leave a comment or ask a question below.

If you run your business in the 21st century, you already know how hard it is to earn loyalty from your customers let alone turn them into raving fans. However, as a business owner who wants to succeed in business and prosper in life, you must come up with ways to earn your customers’ loyalty and turn them into raving fans.

In order to earn loyalty from your customers, you need to understand the core of who a customer truly is. Every customer is first a human before they bear the title of a “customer” and that’s where I feel a lot of business owners miss it.

If you treat your customer like a robot, you’ll definitely get a robotic relationship.

Robotic relationships in business mean that other than the transaction, there’s nothing more, nothing less. Most corporations have robotic relationships with their customers and although corporations are starting to realize that robotic relationships with customers no longer work in this day and age and are trying hard to build more humane relationships, they are still no match when it comes to how small business owners can build humane relationships with their customers, earn their loyalty and turn them into raving fans.

[Read: How to Reach Your Target Audience on a Shoestring Marketing Budget]

 

Why Should You Care About Turning Customers into Raving Fans?

 Back in the days, many brands didn’t have to do much to earn customer loyalty because there weren’t many options. When I was growing up, there were very few soap brands. In fact, we only had two options. If you didn’t use soap A, you had to be using soap B. The manufacturers didn’t have to worry about working hard to earn the consumer’s loyalty. However, all these changed as the internet became more popular and lowered the barrier of entry of being an entrepreneur. Entrepreneurs can now with very little capital start their business and provide a world-class service straight from their computers. This has led to fierce competition in the marketplace and flipped the power from the business to the customers.

[Read: How to Retain Customers in 5 Easy Steps]

With this in mind, a diligent business owner should care about turning customers into raving fans. What’s the difference, you may ask?

Customers are generally people who buy from you because they need your products. Raving fans are people who not only buy from you but are extremely satisfied with your brand and are willing to go the extra mile to blow the horn of your brand without any coercion. When you have lots of raving fans, the rewards are boundless. Your marketing budget reduces (in most cases), loyal customers will increase and so also will your sales increase. Can you beat that?

 

Earning Loyalty and Turning Customers into Raving Fans

Loyalty simply means allegiance. This does not mean that customers have no other option. It simply means despite having other options, they decide to choose you. That’s a pretty hard spot to land on especially if there are millions of people who offer the same services as you. The good news, however, is no matter how hard it is to land on such spots as a business owner, it is doable.

The first thing to understand when it comes to earning loyalty from customers is to understand that loyalty is earned not bought, coerced or demanded. You cannot demand loyalty from anyone, you’d need to work hard to get it. In order to earn loyalty, you must understand that business is beyond a transaction – it is the relationship. Start earning loyalty from your customers that giving them undivided attention, making them feel special and care about them. Every human in the world responds to attention. If you start treating every customer like the most important person in your world rather than someone from whom you get money, you are on your way to building a loyalty base.

[Read: How to Write an Effective Ad Copy]

The second thing is to be innovative. Innovation fuels excitement and loyalty. No one likes to be with someone who is not committed to constant improvement unless they have no choice. Innovation does not always mean discarding old ways of doing things, it simply means constant improvement over time. Work on your branding, come up with new ways of accepting your orders, invent new ways of delivery and just keep improving. When your customers know that you are constantly researching and coming up with novel ideas, you will earn their loyalty.

[Read: How to Remain Relevant in a Rapidly Changing World]

In addition to being innovative, you should learn how to reward your customers. Rewarding them drives loyalty and it makes them feel special. No one likes to feel used and unappreciated so go ahead and start earning your customers’ loyalty by rewarding and appreciating them.

Once you start earning the loyalty of your customers, it’s time to turn them into raving fans. Turning your loyal customers into raving fans means that you are willing to go the extra mile. Extra mile means that you will start doing things other businesses don’t do. For example, you can go the extra mile providing exclusive access to your loyal customers for troubleshooting, knowing their birthdays and even that of their family members, providing resources beyond the basic to help them advance their personal gains etc.

Going the extra mile come rain or shine will win over even a heart of stone and in doing so, you can turn customers into raving fans.

 

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Question: How do you earn customer loyalty and turn them into raving fans? Leave a comment below.