How to strengthen customer loyalty – even when your budget is tight
When the economy slows down, many businesses reduce – or completely eliminate – spending on marketing and advertising. That makes customer relationship building even more important. To help you increase your referral network and generate sales, follow these three tips from Karen Saunders, owner of the design firm MacGraphics Services (macgraphics.net):
- Consistency counts. Send emails and newsletters to your most loyal customers – and be sure to call them often, too. Studies show that a 5 percent increase in customer loyalty can add 20-80 percent to your bottom line.
- Display your caring side. A personal, handwritten card can make a big difference to one of your customers, especially if they’re having a bad day. Send customers a personalized postcard once a month, or develop a system for remembering special occasions such as birthdays and anniversaries (include a gift card, if your budget allows). Consider using an online service that manages contacts and prints and mails postcards and greeting cards for you.
- Grow your network. If you know 250 people, there’s a good chance they each know at least 250 people, and so on. When you build a strong network and nurture meaningful relationships with the people you serve, you’ll be poised to grow your referral business to the max – and, you’ll also shore up your business to weather tougher times. Relationship marketing should be a part of your job every day.
For even more advice, download a free report on customer relationship marketing.
