Top Ways Small Businesses Can Retain Their Customers In 2023 By Imaginaire

Marketing a small business comes with its challenges, and in a world with so much competition, being creative in your marketing strategy is paramount. Arguably the most important aspect of a business is the customer, and companies are now putting just as much focus on existing customers as new ones. Retaining customers is not only cheaper but is also a sign of loyalty and reliability, supporting your company in future growth and success. Having a selection of regular customers is beneficial for small businesses as it offers a stable income, positive company reviews and future customer recommendations. 

What does it mean to retain customers?

Retaining customers is all about customers’ sticking by your company for a given period of time. For many small businesses, customer retention is fundamental in both the short term and long term and is a key marketing tool included in all business plans. This process is typically cheaper than constantly creating new marketing materials and acquiring new customers but also increases customer loyalty and profitability, supporting product satisfaction and future referrals. 

Top customer retention strategies 

Company values and principles 

Customers today have many opinions, choices and preferences when it comes to who they want to work with or buy from. Customers are beginning to look deeper into brands and now look for qualities and values which fit in line with their own. For instance, economical values are now a huge aspect of all business marketing strategies and including these values will not only differentiate your brand from competitors but can also put smaller businesses ahead of larger, less eco-friendly corporations. 

Customer calendars 

Customer calendars make sure you’re contacting your customers at the right time and when it suits them. Small businesses benefit greatly from this strategy as they can adapt their working hours and approach consumers depending on their preferences. These calendars also include personalisation such as birthdays or seasonal news. As small businesses have fewer customers, it’s much easier to keep track of those who keep coming back and take a more personal approach. 

Customer service 

Customer service is one of the most important parts of any business as these are the people keeping the clocks turning and money coming in. It is especially important for small businesses to master their customer service as, unlike larger corporations, they don’t already own that respectable title that everyone recognises. Improving and delivering excellent customer service makes it more likely for customers to return and also ensures reviews and feedback are positive. There is, however, the chance that customer feedback includes complaints or an unhappy customer. This happens to every business but the important thing is how to deal with it. As most reviews are posted publicly, making sure to address these complaints and deliver solutions is crucial for both customer satisfaction and company reputation. This also shows future customers that you have addressed and corrected any mistakes. 

Loyalty schemes 

Just like many large businesses, small businesses are now utilising the power of loyalty schemes and benefits. Once customers begin to see rewards for spending money, they’re far more likely to return rather than shop with a competitor. These schemes not only improve customer retention but also offers a greater insight into shopping habits and preferences. These schemes can include one-off discounts, offers, shipping deals or exclusive content.