In the marketing world, we focus a lot on helping local businesses find innovative ways to connect with new customers. And while every business wants to attract new business, let’s not gloss over the importance of retaining existing customers—finding ways to drive loyalty and repeat business.
Did you know that it can cost five times more to attract a new customer than retain an existing one, or that increasing retention by 5% can increase your revenue by 25-95%? Let’s focus on a few strategies you can implement to drive loyalty and increase retention!
High-Quality, Custom Content
According to Key Difference Media, 78% of consumers believe that businesses providing custom content are interested in building good relationships. Why is that? You’re taking the time to offer them useful, informative content. For example, you may share tips on how to best utilize a product or insights into different solutions that can help the consumer make an informed decision. And the more quality content you provide, the more customers will come to rely on you as their go-to resource for industry-related information. Which in turn increases the likelihood they’ll come to you when they need those products and services. The more you can do to stay relevant and top of mind, the more you’ll drive loyalty and repeat business.
Reviews, Reviews, Reviews
91% of consumers trust online reviews as much as personal recommendations. Trust is key when it comes to both acquiring and retaining customers. When consumers find a business they can trust, they’re more likely to come back again. Getting reviews online is easier than it may seem. Just ask! In fact, 68% of consumers would leave a review of a local business if asked.
Take advantage of tools like Vivial’s Marketing Platform to help you easily generate, monitor , and respond to reviews. Nothing shows your commitment to your customers more than a prompt response to an online review. Whether it’s positive or negative, a quick “thank you for your feedback” and a personal follow-up after that will work wonders for increasing loyalty.
Believe it or not, text message marketing can do great things when trying to drive repeat business. Consumers want to hear from you via text. In fact, 53% of consumers say they feel more positive toward a brand that uses mobile messaging to communicate. Using text messaging to engage with existing customers—whether by updating them on your business hours or sending appointment reminders—offers a utility that will drive loyalty. Consider sending special offers and coupons via text as well, as according to Digital Marketing Magazine, 77% of consumers will spend more when redeeming a mobile offer.
The bottom line is it’s important to ensure your digital marketing strategy encompasses tactics designed to attract new customers and to engage and retain existing ones. A smart local business will employ a marketing platform that leverages tools aimed at both.
If you’d like to learn more about how Vivial’s Marketing Platform attracts and retains new and existing customers for your business, contact us today!