Post summary:
- The key to business growth and profits
- How retention rates improve customer value
- Five simple ways to increase your customer base
Do you find yourself thinking about how to increase your customer base?
One of key drivers in your company’s value is the value of your customers. Analyzing customer profitability and maximizing a customer’s lifetime value are highly important and essential to any business.
To increase your customer base, it is necessary to stay in constant contact with potential and existing customers and the more value your business can offer, the more likely they will remain loyal.
Did you know that a mere 5% increase in customer retention can boost a company’s profits by 25% to 95%, and that almost 65% of a company’s business comes from repeat customers?
So how can you increase your customer retention rates even more?
Below are 5 simple ways to bring in more customers and increase your customer base.
1. Offer a free newsletter
Free is something that everyone can afford, from small businesses to global corporations. When you offer a free newsletter, you are informing your potential customers that you are willing to provide free information from the start. If you provide good content, customers will know more about your business.
2. Increase your customer base by asking for opinions
Before a web visitor leaves your website, request that they complete a short survey related to your business. People are happy to express themselves and often enjoy telling you about their online and offline experiences. You can use a survey to conduct industry research, customer experience or measure customer satisfaction.
3. Keep up and maintain excellent customer support and service
A customer who contacts customer support about their first order is just as important as a customer who contacts customer service about their tenth order. Treat each customer with respect and take appropriate action. A happy customer is likely to tell at least three friends about a positive experience and great customer service leads to increased sales.
Best of all, you can keep track of previous customer communication through tools such as CRM software.
4. Keep your website content fresh
Fresh and informative content is one of the main elements that pull in new visitors and potential customers. Keep your content fresh by publishing a blog that reports the latest business news, key-takeaways from whitepapers and hot topics within your industry. Fresh content will also help your website be found in search engines.
5. Promote your business on social media networks
Facebook users have an average of 338 friends. When you create new content, launch a new product or run a new campaign, be sure you share this across the social media channels you are active in. There is no easier way to grow your customer base than providing value and then having your customers promote your brand for you.
Building a solid customer base
Marketing is the art of attracting and keeping customers. If building a solid customer base for your product or service is what you are looking to achieve in 2022, implementing the five steps above will greatly increase your customer database in a short period of time.
Do you have any tips on how to increase your customer base?
Let me know below.
P.S. If you're looking for more tips on how to increase your customer base, download the free "Sales KPI" white paper.
