Repeat customers - an end goal of nearly every small business. As a small business owner, can you think of anything more precious to your business than your customers? Got something? Probably not. A business’ customers is its lifeline. Businesses live and die all dependent on their customers. That’s why it’s no surprise many small business owners are always so worried and obsessed over achieving a loyal, recurring customer base.
It makes complete sense. Many small business owners know all about how generating repeat customers cost 6-7x less than acquiring new ones and that repeat customers typically spend 67% more than those who are new to your business.
Is worrying over losing customers keeping you up at night? Don’t worry, you’re not alone. Here are the most common fears that haunt all small business owners when it comes to losing customers.
1. The Local Competition Stole My Customers!
You’ve set up shop in town, created your own little niche’ market, developed some strong customer relationships, and the profits have been pouring in. Life couldn’t be going better for you. Then, on one fateful day the unspeakable happens… a competitor moves into the neighborhood! It’s a red alert, your worst nightmare. They offer similar services, the same products, and at a slightly cheaper price. It started with one, then a few more, and before you know it in dribs and drabs your customers are cheating on your business with the competitor next door. Not cool. How do you get out of this awful situation and get your customers back!?
2. My Small Businesses Offers Great Deals! Hello? Can They Not Hear Me?
You’ve put in a lot of time crafting exciting, enticing promotions at your business. You always have fantastic daily offers, tons of fresh seasonal specials, and even a long lasting loyalty program. The promotions you’ve got going on at your business are great. I know it, you know it, yet for some mystifying reason your customers don’t seem to. No one seems to know. You’ve spent a ton of time making your small business inviting to customers; however you haven't noticed a change in the frequency of your customers. Why aren’t they coming back for your amazing deals? Panics setting in. Is there something you’re forgetting here… ?
3. I’m Not Looking for a One-Night-Stand… Please Don’t Forget About Me!
The hard part is done. You’ve got a new customer through your doors. Success! So, they came, you’ve made your sale, they were happy, and then they left… and never came back. What happened? They seemed really pleased with your services. You and your staff were extremely welcoming. Was your breath really that rank? Why are new customers forgetting about you?
It’s not easy to stay top-of-mind. Think about it: you’re competing with a lot. Your customers have a lot on their mind like - what’s due for work tomorrow, what they’re doing this weekend, if they’ll have enough time to squeeze in their favorite T.V. show tonight, you name it. That’s why, as a small business, staying relevant and in the forefront of your customer’s mind can feel like a nightmare. So, how do you get customers to remember your business’ name amongst all the white noise?
Stay tuned next week as we work conquer all your biggest fears!
Do these nightmare scenarios sound all too familiar? Did we miss any that you have? Be sure to leave us a comment below!