“It costs up to 7x more to acquire a new customer than to retain an old one” (Markinblog.com, 2021)

Building customer retention is more important than ever in this fast-changing world. Customers are spoilt for choice, so what is it that makes them back to your business over and over again?

At ActionCoach, we call them Critical Non-Essentials, the little things that begin building relationships with your customers. It could be as simple as knowing their favorite footy team and celebrating the teams wins when your customer comes into the store.

Building strong, lasting and authentic relationships helps your customers feel valued and not only do they keep coming back, but they rave about you to others. They become advocates for your brand and build your referrals, creating even more business opportunities.

You don’t need to have a huge budget to build these relationships, it can be as simple as getting to know them a little. Get creative and think of small gestures you can perform to achieve great results. Things like handwritten notes, sending birthday cards or congratulating them on their own wins.

Don’t forget to keep it personal. This will make even the smallest gesture unforgettable.

Thankfully, the modern world also has ways of creating these critical non-essentials with little budget through automations. You can easily store things like customers birthdays in your database, then get your email software to send them a note each year. Find a system to capture and manage any relevant information you feel would help in this endeavor.

Of course, if you have the budget, you may find that a bit of an investment in a large repeat customer will pay massively in the long run. Just remember that even though you may be spending a bit more, it is the personalization that makes the difference. For example, if they have a family, make sure it is something the kids will enjoy too.

Think about the customers experience. It is more than just purchasing from you, make them feel valued and watch them come back, hopefully, with their friends.

Remember that relationships are two-way. Let your customers get to know you, keep them updated on the business as well as letting them see the humanity in your business. Share your story and your own personality.

Don’t forget about your team as well. Show them how much you value them and their loyalty. This will then show in their dealings with customers and referrals.

Leaving a good impression at every point before, during and after purchase leaves customers happy and leaving positive reviews for you every where they can. An existing customer is 60-70% more likely to purchase from you again. So make them feel like you want them to come back and let your business grow a loyal fan base.