Maintaining Customer Retention and Loyalty
By James Pruitt, Senior Staff Writer
(1) Know how your clientele thinks:
Veteran Business Owners should understand the habits, needs, and proclivities of their target consumers. The best services in the world may fall flat if the delivery fails the customer. Consider the everyday habits of their clientele, and which practices most conveniently serve each party’s economic base.
For example, the geographic location of a physical business may provide access to a busy, out-of-way community, or may place it out-of-the-way from the ideal markets. The best fertilizer in the world may rot unsold in a downtown Manhattan warehouse, away from the farmers who might benefit. Similarly, imagine the hottest nightclub with the coolest DJs, open only weekdays from 7 AM to 6 PM. In both examples, employees and resources would idle, and waste away your resources as well.
Idle hands are the devil’s work. But these are extreme, comical examples. In the everyday sphere, businesses should stay integrated with the surrounding community in order to keep establishments profitable, at full capacity, and catering to the needs of all concerned parties.
(2) Also know the distinct needs of different segments of your clientele:
Understanding the larger habits of the greater community does not suffice for a company seeking to maximize its profit margin. Veteran Business Owners need to consider the diverse needs of each constituent of that community. Directed marketing efforts may sort these constituents according to demographic or interest groups.
Family-oriented clients may seek different offerings from your company than singles looking for thrills. Additionally, as discussed in previous blog posts, often a certain customer base shares unique interests and hobbies. Marketing efforts that break into these sometimes isolated (and often online) communities can benefit all concerned parties.
(3) Keep a well-trained staff:
All good bosses should invest in effective hiring and training programs. Remember, every business is different, and workers always face unique challenges adapting to their niche.
Good staff should know how to address various customer demands, and these demands may vary based on the services the company provides, as well as intangible factors such as the surrounding community and the company’s resources and economic fortunes. Hence, the employees, as well as the managers, should have the knowledge to face these demands in order to maintain positive word-of-mouth end a healthy reputation.
(4) Give deals, free items, or services when possible:
As the purveyor of fungible goods and services, at times every business owner finds themselves stuck with a surplus. Companies should try to see these opportunities not just to unload merchandise or services. These opportunities can spread positive word-of-mouth, as well as memorable experiences for the patrons or their families.
Free stuff always tastes/feels better. Giveaways and freebies give an opportunity for that positive initial interaction with customers. Remember, business owners should get their customers hooked early.
(5) Whenever reasonable, consider the customer is always right.
Consider “yes” the default answer to customer requests. This philosophy ensures the good karma necessary to recycle positive word of mouth, maintaining a healthy reputation. When possible, honoring special requests, including for children, friends, and other family members can ensconce your establishment in someone’s imagination as their favorite go-to institution. Such an overarching philosophy can do wonders in your ongoing project of maintaining the network of well-wishers and happy customers necessary to keep your business prospering.
VAMBOA, the Veterans and Military Business Owners Association hope that this article has not only been valuable but provided some unique perspective. We work hard to bring you important, positive, helpful, and timely information and are the “go-to” online venue for Veteran and Military Business Owners. VAMBOA is a non-profit trade association. We do not charge members any dues or fees and members can also use our seal on their collateral and website. If you are not yet a member, you can register here: https://vamboa.org/member-registration/
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