Did you know, 65% of a company’s business comes from existing customers? The probability of selling to an existing customer sits at 60–70% while the probability of selling to a new customer ranges between 5–20% (Source: Altfeld).
With so much resting on existing customers, it is essential for small to mid-size businesses to have customer loyalty at the forefront. Customer loyalty is not only key for maintaining trust, but it is also essential in keeping your business profitable and sustainable.
- How can your small business put an emphasis on customer loyalty?
- How can Sunsett.io help your small business?
“Customer loyalty is key in keeping your small business profitable and sustainable.”
How can your small business increase customer loyalty?
With customer loyalty being such a crucial component of business success, it is vital that businesses have a plan in place to foster that loyalty. Below, let’s explore proven ways to accomplish this task.
Customer Loyalty Program: Customer loyalty programs are a memorable way to show a business’s appreciation for customer patronage. By attaching this gratitude to a reward-based system, you are encouraging the customer to return and they are more likely to do so because of the feeling of value. These loyalty programs can range from coupons and discounts after so many visits, to reduced subscription costs, and so on.
Customer Referrals: Loyal customers are more likely to recommend the business to friends and family. Encouraging this referral and creating a referral reward system will help draw in more customers.
Customer/Business Trust: One huge benefit to being a small business is the unique ability it presents to be more customer-focused and get to know your customers on a more personal level. This can be done through social media engagement as well as in-person interactions. When a small business takes on an active role in its customer’s experience with its product/services, it goes a long way in building trust and creating a loyal customer base.
Small businesses have a special ability when it comes to customers as they get to be much closer to them than larger corporations. Small businesses must hone this and take advantage of it to truly form strong bonds with their customers and create a sense of community and loyalty.
“Building customer loyalty will not only help a small business grow and see profits, but it also acts as a way to give thanks to customers that support your small business day in and day out.”
How can Sunsett.io help your small business?
Small businesses have a unique opportunity of building close relationships with their customers and seeing customer loyalty trends in real time. Applications, like Sunsett.io, can help small businesses see these customer trends and gather more data on their customer base to ensure they are taking full advantage of the opportunities presented to them.
Making the most of your resources and turning insights into growth is no small task, unless you have a simple and easy tool, like Sunsett.io. Sunsett.io offers small businesses a simple and easy to use dashboard platform. Sunsett.io will work with you and your project management to ensure your business is staying on track and meeting goals.
With Sunsett.io, we want to work with you to grow your business by taking advantage of data driven decisions. The Sunsett.io app is a great way to grow your business while engaging your team in data driven decisions. We know how to grow businesses with data. We built Sunsett.io with simplicity in mind, and want to make data reporting accessible to every business. Sunsett.io is an easy tool for every business owner, providing a simple solution to business growth.
Transform your business and see the full potential. Sunsett.io will help you create goals and measure success, create team projects and optimize team collaboration. With Sunsett.io, you and your team will receive detailed performance reports and get personalized insights keeping you aware and on track for data driven success. So, transform your business and see it’s full potential with Sunsett.io. Create goals, projects and measure success — all with data-backed user friendly analytics.
Join us today! With a range of plan options, there’s sure to be one that fit’s your unique business needs!