More and more businesses are faced with the complex challenge of retaining customers as so many market segments are all competing for the same type 0f customer. Traditionally, it was believed that to ensure customer retention a business had to make sure that its customers were satisfied with the products they bought or the services they received. But in today’s world that is no longer 100% the truth. Yes, customers might be satisfied with the product or service they bought from your business, but that does not necessarily stop them from buying that same product or service from another business in the future.
Over time customers have evolved. They’ve became more educated, curious, fussy and extremely demanding. So what can you do to retain your customers and ensure that they keep coming back? The answer is actually very easy…you need to invest your time, effort and budget on building and maintaining strong relationships with your customers.
It all starts with the story your business tells. A business’ story can be a great way to differentiate itself from its competitors – make it stand out and get noticed. Telling a story is about building something that customers will care about and want to be a part of. You can portray your heritage, scarcity and also dictate your values to customers. Telling the story of who you are and what your business stands for is thinking beyond the utility and functionality of the products and services it sells, but rather striving on creating customer loyalty and meaningful, long lasting relationships with customers. You should use your unique story as a foundation and as a strategy to grow your business.
Moral of the story: customers nowadays don’t buy products and services for the just of it, but rather because they want to feel like they are a part of something bigger and better. Customers are just after the relations, stories and magic that a business offers…