I've heard countless stories of people spending money they don't have on expensive tech, software or marketing techniques to attract new customers to their business, prioritising new growth at the expense of consolidating and serving the needs of your core customer base. This is a risky strategy to follow.
I think it’s crucial to focus on your existing and loyal customers first before you start trying to recruit new clients or mass promotion; getting new followers can be pretty meaningless if your current followers aren't happy or satisfied.
I outlined a few quick and tactical tips for how to strengthen your core base in my video above, but what about wider ways in which to keep your fans loyal?
As this is the last in my series of Business Coach tips, it’s worth reflecting on some of the tips previously shared and how these can join together and, when put into practice, can really help to continually engage your core audience.
A key way to build loyalty amongst your core base is by showing that you have personality. Demonstrating a human face to your business can work wonders in building trust and transparency with your customers. If you are an online business, try and reflect this on your website or on social media. If your business has a physical base, think about how you and your employees interact with your customers. It sounds cheesy, but a smile and simply asking how your customer’s day is going really goes a long way in helping to build a rapport with them. If they feel like they matter to you, they’ll continue to come back for more! Simple really.
Be honest. Whether this is responding to bad reviews with an apology or if you (or any external factor) messed up a customer’s order or experience, be upfront and show empathy with them. In a world where there are thousands of brands, demonstrating that you are honest and trustworthy really does help to develop trust and loyalty. There is nothing more frustrating than a company not admitting they messed up.
Finally, know what you stand for. I spoke before about how having a vision and cause for your business can really set you apart, but when your core customer base is fully aware of this and really engaged with it, it’s much more likely that they will come to you first over a competitor who doesn’t embody these values.
This marks my final piece in my series with American Express, but remember to make sure you’re following @AmexBusinessUK on Twitter for regular updates and advice. Thanks for following along!