Winning Customer Loyalty | NetSuite Blog

Every company tries to win the trust of its customers with its products and services. The constant practice of new ways such as promotions, discounts, loyalty bonuses, etc. helps companies or business owners in keeping their customers attached to their services. It is said that retaining the existing customer base is easier than acquiring a new one and this is quite true many times. Due to tough competition between different outlets, stores, and shops, the need for creating significance becomes very important.

Since the influence of global brands is increasing, the SME retailers need to use the below strategies to increase their business profitability along with the probable possibility for the expansion of their businesses:

Seasonal/Periodic Sale Program: It’s a basic human tendency that a customer gets attracted to the brands which offer a good sale deal within their affordability. For the new establishments, arranging ‘Sale Events’ on a regular basis can help them in acquiring new customers. The primary motive behind arranging the Sale Events is usually to penetrate the market and not to go behind the profitability. For the market leaders, the Sale Events help in retaining their existing customer base and adding more value to their sales.

Referral Bounty: In the traditional processes, retailers used to spend a heavy amount on marketing campaigns and advertisements. Such promotional activities did well in the earlier years, but nowadays word-of-mouth publicity is considered the best way to reach people, and the chances of getting attraction are quite high through this method. Rewarding the existing customers for the referrals in terms of discounts, and percentage commissions not only retain the old customers but also help in getting new ones for our stores and outlets.

Communication with the customers: The feeling of ‘Being valued’ always excites the customers in adding a particular store/shop to their favorite lists. The store owners may keep the customers engaged with the custom greetings, emails, and messages. Sometimes, a simple call may also encourage the buyers in visiting the store and probably with a new transaction. The constant communication endeavors a good relationship between business owners and customers leading to a loyal engagement.

Understanding Market Trends: The B2C segment is a constantly changing market and rapid improvements keep happening. The small stores converted into giant malls, general stores converted into flagship outlets and the offline traditional stores came on the online portals. As every retailer is keen on providing the best products, giving the finest service and good experience may help modern consumers in getting attracted to the stores.

Since the current generation is having plenty of options, creating awareness about our business offerings along with providing them the right experience not only in terms of products but also about the services helps us in entering into the ‘favorite destination’ list of the customers. Utilization of the right resources along with the technology can help us in winning the trust of the people.

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Website:  https://billmade.com

Email ID: marketing@saturotech.com

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