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5 Proven strategies to Maintain Customer Loyalty

While most of a firm’s resources are spent on acquiring new customers, it is important to realize that creating brand loyalty is a very inexpensive way to increase sales while maintaining a relatively low cost structure. 

Every business owner knows that you can never have enough paying customers. Customer acquisition is ranked very high among entrepreneurs across different industries.


While most of a firm’s resources are spent on acquiring new customers, it is important to realize that creating brand loyalty is a very inexpensive way to increase sales while maintaining a relatively low cost structure.

 

There are several things you can do to reduce attrition among customers. 


Here are just 5 ways you can keep the customers you already have, happy.


1. Create Loyalty programs

This is pretty self-explanatory. Build some kind of loyalty program that rewards customers who shop regularly or have been with your company for a while. This could be in the form of discounts or free stuff.



2. Host Flash Sales

This is very effective. Occasionally send out invitations to customer-only sales events on your website. This lets customers know they are appreciated and encourages them to shop more often with you.



3. Create curated content

Although this strategy might be a bit time-consuming, it is well worth it if executed properly. Create a customer only section on your site where you publish video tutorials, guides, etc. Specifically for certain segments of customers. An example would be, creating DIY videos for folks who buy hardware and construction items.



4. Resolve issues quickly

Great customer service is hard to find these days, as we all move to self-serve experiences. This phenomenon presents the perfect opportunity for you to stand out. Add a human touch to addressing your customer concerns.



5. Be active on social media

Social media is an awesome way to interact with your customers in a natural way. Engage with customers on your various social media platforms.  Answer questions and address concerns this way.

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