There’s a balance between looking out for your current customers, while also trying to attract new clientele as well. Sometimes there can be a push from an employer standpoint to bring in new leads, and that can overtake maintaining existing clients. Finding new business is crucial to the success of your company, but the last thing you want is to lose the people who keep coming back.
Even if it might not seem like it, the success of your company is largely dependent on your existing clients. Visual Retail Plus understands this demanding balance, and as a premier leader in retail POS software, we are here to help your business maintain and grow the client base you have. Read on to find some easy ways to keep your existing customers, and contact us to talk about investing in retail POS software!
Existing Customers vs. New Clients
Reminiscent of the “which came first: the chicken or the egg?” debate, some of the circular thinking comes into play when thinking about existing vs. new clients. Granted, we know that new clients came first, but figuring out where to invest our energy can bring us right back to this notion of which form of customer should come first.
The tricky part is that it never is a simple black-and-white matter. We know, for example, that keeping a long-term customer is more important than a one-time customer, but it’s not like both customers are in the same room and you are forced to choose one. Rather, it’s a build-up of our smaller, everyday actions that make a huge difference—a gradual shift that happens over time.
The studies and reports from major financial and employer-based leaders all have the same message and findings about existing clients. As one headline from Forbes states, “Acquiring new customers is important, but retaining them accelerates profitable growth.”
Business social networking giant LinkedIn takes it a step further, and talks about how it’s not only better for growth to keep existing customers, but it’s actually cheaper to do so. In an article about customer acquisition cost, LinkedIn reports that “it costs between 4 and 10 times more to acquire a new customer than it does to keep an existing one. Some sources say cost of acquiring a new customer is over 30 times that of keeping an existing one.” Much of this can depend on the services or products offered by your business, but the truth is clear: keep your existing clients happy, and keep them coming back.
So how exactly can you keep them coming around time and again? Take a look at some easy tips to ensure customer satisfaction below!
Offer Deals For Customer Loyalty
Many businesses provide coupons and discounts to draw in new customers, which is a good way to try to bridge leads into becoming regular clients. Yet by comparison, so few deals are provided for existing customers. Some companies do this very well—Macy’s, for example, is a department store that frequently mails deals to its customers, and has a highly attractive rewards program that has helped the company stay in business for over 150 years.
By no means feel like you can’t offer deals to new clients, but remember to keep clients feeling like they matter. Email coupons to your loyal client base from time to time, and make sure you emphasize how much their business means to you. Even something as simple as a punch card is a great starting point! Make it as attractive as possible for clients to keep coming back. Not only do existing clients save you money, but mutual loyalty between company and client is a great way for the word to spread about your enterprise and for new leads to generate.
Get to Know Your Clients
In the aforementioned Forbes article, they mention a study about customer satisfaction in which “60-80% of customers who describe themselves as satisfied do not go back to do more business with the company that initially satisfied them.” The article goes on to state that this happens due to a lack of interpersonal connection.
This is a staggering and sobering statistic, because even if your business is doing a great job, the majority of the time, a great job is not enough. It goes to show that we can look at data and profit margins all we want, but in order to see the results we want, everything points right back to our client relationships.
Luckily, there are so many things you can do to show your clients you care. Know their interests, and converse with them, as a very basic step. While this is a relatively simple idea, it makes a huge difference! If you walked into a coffeeshop for the first time, would you be more likely to return if you were only served coffee, or if the barista asked your name and had a conversation with you? This mentality stays relevant for any business and service.
Is your business solely eCommerce? Not a problem. Create a birthday list, and send out a coupon to celebrate along with your clients (this is still a great idea for a local enterprise as well). Visual Retail Plus offers retail POS software that is built for eCommerce, which makes gift cards and birthday email lists easy for companies to maintain—check out our products today!
Invest in POS Software
The benefits to having an engaging and intelligent retail POS software are seemingly endless. As a business owner, you already have a ton on your plate. It’s likely that some of your responsibilities can be delegated to a software system, and being able to lessen some of these responsibilities is something you deserve.
By having an amazing retail POS software, you are better able to serve your customers, both current and potential. When you divert some of your attention away from tasks and management that software can handle, you can reappropriate that energy towards your customers. Not to mention, POS software is helpful for clients as well!
Visual Retail Plus offers retail POS software and multi-store management solutions that your company will thrive from using. Check out some the advantages below!
- Server/Cloud Based: Access tools and even reports from multiple devices, including smartphones and more. This allows you to save time, and can even provide more opportunities to engage with customers.
- Multi-store Management: This is super advantageous for businesses with more than one location, as you will be able to easily manage multiple locations and share data.
- Multiple Venues: With the right retail POS software, you can easily sell both in your store and online.
- Tech Support: If something goes amiss, you’ll have someone you can call with Visual Retail Plus. We offer service and customer help for our customers 365 days a year!
Investing in software can seem like a big step, but it is a necessary one in the modern age of the business owner. The right software eases the process not just for you, the business owner, but creates a better avenue for you to interact with your existing clients. Things don’t always go smoothly in business, but retail POS software is one thing you can count on. Contact Visual Retail Plus to find the perfect management software for you and your company!