You may have the greatest business in the world, but it will not be able to thrive without customers. Because it is a lot easier and less expensive to keep your old customers than it is to attract new ones, it is important for you to do all that you can to keep your customers returning to your business. Below are some tips that will help increase your customer retention rate:

Consistently Offer Great Service

This is one of the most important things that you can do to keep your customers coming back to you. Not only should you try your best to provide excellent service, but you should also encourage your customers to give you feedback. If your customers suggest changes that are reasonable, then you should try your best to implement them.

Resolve Complaints Promptly

You may occasionally have a customer that is unhappy with his or her business. Complaints can be frustrating, but you should try your best to resolve the complaint within a timely manner. Even if the customer was unhappy with his service, he or she may return to your business if you try your best to resolve the complaint.

Give Your Customer An Incentive To Come Back To Your Business

Many businesses today have started customer loyalty programs. These are programs where people get discounts and other rewards for shopping at the business on a regular basis. Customer loyalty programs have been shown to be very effective for increasing customer retention.

That is why you may want to consider starting one of these programs. For example, you can start a program where a customer gets a 10 percent discount on select items if he or she shops at your business ten times. You should also give your customers rewards for referring their family members and friends to your business. This is a way that you can increase your customer retention rate and attract new customers at the same time. Also make sure you promote your loyalty programs online and offline with the use of flyers and social media to spread the words.

Show Your Customers That You Appreciate Them

Everybody likes to feel appreciated. Your customers will be more likely to come back if they know that their business is appreciated. You should give your customers a courtesy call to let them know that you appreciate your business. You can also send them coupons in the mail or via email.

Retaining customers is one of the most important things that you will need to do to stay in business. You can retain customers by consistently delivering great service and resolving complaints promptly. You may also want to implement a customer loyalty program. Furthermore, showing your customers that you appreciate them is another way that you can keep them returning.

Kim is a marketing consultant for a national retail chain. Kim looks after online and offline marketing, as well as designing promo products that are in line with the corporate brand.