Sustaining a loyal client base is one of the biggest challenges that small businesses face each day. You may have hundreds of competitors, so how can you market your product to obtain consumer loyalty? Consumer loyalty comes from attaching a certain perceived value to your product in the mind of your consumer. In order to create this perceived value you have to establish relationships and trust with your clients.
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Here are some useful tips to help small-business owners maintain and generate loyal customers:
Tip #1: Know the real value of your product or service.
Loyal consumers will continue to come back to your business because they believe that there is some value to it. A customer will hear about your product or service, try it once, and if they are happy with it, they red sox #19 dark blue mlb jersey will come back time and time again. There is a sense of reward or value that they associate with your product. When you are trying to attract your ideal client, you have to know the unique value of your product or service that will create loyalty in your consumers, and tell them
Tip #2: Know the lifetime value of your customer.
Not every customer is worth the same amount to your business. Someone who spends $50 a month is not worth the same as a customer who spends $500 a month. Look at your database and see which of your clients are most profitable to your business. These people are your ideal clients, the ones you need to target for consumer loyalty.
Tip #3: Create a reward program for ideal clients.
The 80/20 rule applies here. This means that you need to identify the 20 percent of your consumers who are generating 80 percent of your revenue. These people should be given the most benefits, privileges and perks. Typically it is best to reward these consumers with something that is in sync with the product that they attracted to. For example, if you have a customer who spent $5,000 on your designer jewelry, you could give them a $100 off coupon for their next purchase. This not only shows your appreciation for their return business, but it is also an investment to get them to come back again.
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