5 Ways to Improve Customer Retention

Attracting new customers should be part of your everyday strategy as a small business owner, but are you doing everything you can to make sure those new customers turn into repeat customers? Here are five things you can do to retain your customers and turn them into brand advocates, according to MasterCard.

1. Focus on your existing customers. MasterCard says the marketing funnel has been flipped, which means bringing in new customers is no longer the focus for marketing. Instead, focusing on your existing customers can be more effective and provide you the most value. These existing customers are more likely to talk up your business and become brand advocates. This can result in more customers and higher profits.

2. Do email marketing the right way. Proper email marketing can be extremely beneficial for small businesses, and low-cost email campaigns can provide a great way for you to maintain connections with customers. However, not using it the right way can do real harm to your customer base. Be sure your customers are interested in what you have to say and avoid spam as much as possible.

3. Utilize social media. Social media is here for the long run, so take advantage of the free marketing space and provide your customers with interactive content. You don’t need to be all over every social media channel – pick and choose the ones that will maximize benefits for your business.

4. Being mobile is critical. The number of mobile devices used surpassed the number of people on the earth in 2015, according to MasterCard. If your website isn’t compatible with any mobile devices, you will have a hard time retaining your customers.

5. Impress with your customer service. Providing great customer service is one of the best ways to guarantee your customers will return. Make your customers feel important and, if something goes awry, make sure they feel heard and quickly fix their issue. Great customer service helps build a strong relationship between your business and your customers, and in the end creates customer loyalty to you and your business.