Currently, SMEs are the foundation of a country’s economy, generating employment and moving the productive system; and when you bet on growth, your premise has to be that of “Conquer and retain”.
Why would a satisfied customer choose your business again on their next purchase? Planning strategies to retain customers must be a priority for the business, or it will be captured by the competition.
The need to retain customers
An investigation by Marketeros LATAM showed that 51% of customers would never buy again after having a negative experience with the company. So when planning a business, you need to consider the cost of attracting customers. The chances of selling a product or service to a loyal user again is 70%; while only 1 in 5 prospects will buy for the first time. The cost of attracting new customers is much higher for the SME than satisfying the experiences of those already loyal.
The efforts and strategies must be focused on providing the best experience that the client can have, to generate an impact that affects all areas of the business. You only get one chance to make a good impression, and where budget and resources are limited, you have less chance to compete with big companies, so your focus should be on customer service, your approach to anticipate your needs. That is the differential by which they will continue to choose you.
To become stronger, SMEs need to devise strategies focused on retaining customers and thus exponentially increase their profitability rates.
How to retain customers?
Strategies to retain customers can vary depending on the type of business, although no matter the category, they all have a common denominator: customer satisfaction to gain their trust and make them want to return. That is why it is necessary to think based on the following topics:
1. Segment and personalize your customers
Segmentation allows you to interact more effectively with them and make them the center of all decisions. It’s not just about sending messages, it’s about sending the right message, to the right group. That the client feels that they speak directly with him and not with a group will make him feel special; that the offer, for example, is tailor-made for him, so the chances that he will react positively will be greater.
2. Surprise your customers
Taking customers by surprise with positive actions and “wow” effects cause an impact on their subconscious that will make them remember their experience for a longer time. Planning events, virtual or face-to-face, is a way to make them feel unique, cared for. Special offers, meetings, webinars, contests with the promise of being “exclusive” is a good way to surprise customers. Give more than they expect generating the famous “wow” effect since they did not expect it. Now, in case of carrying out this type of action, it is important to plan them and validate that the promise is carried out.
3. Encourage participation
That the client is not a simple spectator will change their experience within the equation. Inviting him to actively interact also serves as a gauge and a way to add new ideas to strategies to retain customers. Make him feel part of it and listen to him to improve the service, the product and his own satisfaction.
Social networks are perfect for encouraging customer participation, even as a bridge to attract other users. Generating community on digital platforms is a common practice today.
4. Be proactive in customer service
Being one step ahead of the needs and requirements of the client is not an easy task, but it is possible. It is important to know the public that follows the brand or business. Knowing him, you can anticipate his behavior.
Not reacting, but acting is the premise of this point. Was a mistake made? You don’t have to wait for the customer to point it out to fix it. Identifying the weak points in the production processes of the SME and turning them into strengths multiplies the chances of business success.
5. Measure the performance of the service you provide
What is not measured can not be improved. The SME is offering a product or service to satisfy the needs of a consumer. But not only the consumer has the task of assessing the performance of the business, evaluation processes must be carried out internally to establish suitable standards for the provision of services. Measure to improve.
There are many instruments for performance measurement, including audits. The present of the SME can be evaluated so that strategies can be generated that make the business model successful, or more so, in the future.
Conclusions
To finish, I want to make it clear that all SMEs aim to improve their profitability, to be successful. But you won’t hit the mark if you don’t deliver satisfying experiences to your customers that keep them coming back and drive more revenue for your business.
Adding new clients is a good sign that the processes in the SME are being executed well, but retaining those clients is what will truly impact the profitability of the business. With tools such as Video Mystery Shopping, it is possible to know the experience that customers have in the different points of sale, implementing an experience in situ, without external influences, 100% objective, with the firm objective of improving and thus generating more income.
Once what the customer wants, needs and their experience with the brand is known, it is necessary to plan strategies to retain them, which are effectively measurable so that there is the possibility of adjusting them, if necessary.
Founder – CEO at Gett. Founder and president of BE THERE and of Gett Latam. Marketing specialist and pioneer in the development and implementation of Video Mystery Shopping in Argentina, its own App and hidden cameras. More than 15 years of experience in the sector, collaborating in the client / company ecosystem.
Source: Ambito
