Ideas to show your customers they’re valued

When was the last time your offered value to your existing customer base? While every business needs new customers, using your existing customers is one of the best ways to make your business more profitable. By nurturing these relationships, you can increase sales, boost brand awareness and reputation, and even generate new business through positive word of mouth.

Did you know, businesses that improve their customer retention rate by just 5 per cent can increase profits by between 25 per cent to 95 per cent. Additionally, it’s more expensive and time consuming for your business to find new customers, than it is to invest in customers who have already bought from you. Bringing a new customer up to the same level of profitability as an existing customer can cost up to 16 times more.

As consumers grow more discerning, however, winning customer loyalty can be challenging. Factors that impact whether or not customers return to purchase from you include price, quality, convenience and customer service.

While these elements may not always be within your control, there are ways you can work to increase customer retention and generate trust, respect and loyalty.

Boost Customer Loyalty

Download our infographic to discover the true value of your existing customers and how you can earn their repeat business.

Officeworks

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