New products are entering the market constantly, it’s more important than ever for brands to know how to keep hold of their customers. Live Innovations, a London based sales and marketing firm offer businesses advice on how to keep customers loyal.
It’s a well-known fact in the marketing industry that it costs far more to attract a new customer than it does to look after an existing one, despite this many businesses are failing to retain their customers and are in trouble of losing out to the competition. Live Innovations believe that by making small changes to their customer service strategies, businesses can improve their customer relationships and see an increase in customer retention.
Live Innovations managing director Tom Harris says, “Having a strong base of loyal customers is integral to any businesses success. Businesses are far more likely to turn a profit through returning customers than repeatedly selling to new ones.”
Loyal customers provide the opportunity for businesses to up sell based on their knowledge of that customer’s needs, whereas new customers are more likely to purchase products from a lower price range. For many businesses loyal customers are vital in their attempts to boost brand awareness, if a customer experiences exceptional customer service which has encouraged them to stay loyal to that brand there is a good chance that customer is going to recommend their services to others.
“Live Innovations specialise in raising brand awareness and improving customer retention for their clients. We understand the impact loyal customers can have on a business, the constant influx of new revenue can be a game changer for any business” said Tom Harris, when asked about Live Innovations role in acquisition and retention for their clients.
Through face to face direct marketing techniques, Live Innovations provide their clients with the means to create honest and lasting customer relationships. Live Innovations build a link between their clients and their customers through face to face interactions, which allow services to be personalised to each individual customer’s needs. Direct marketing also provides customers with an opportunity to give quality feedback to a brand, feedback from loyal customers allows businesses to identify any issues quickly and adjust their practices to best suit the demands of the consumer.
To help other businesses to improve their customer retention rates, Live Innovations have suggested two important factors that businesses should consider in order to keep customers loyal.
- Most businesses rate this highly on their list of attributes, however if this isn’t conveyed accurately to customers then businesses are at risk of losing out. Businesses should ensure that all team members share the same belief in the brands message and are passionate about the products they are selling.
- See the experience from the consumers point of view
- Many customers when considering a purchase will look at the WIIFM (What’s in it for me?) All customers want to know what benefits there are to choosing a brands services. If a brands team can’t see the benefits of the product they’re selling, customers are not going to have any faith in the product or the brand and will look to competitors for a better deal.
Live Innovations suggest the best way to keep customers loyal is to consider them in all business processes. If the customer is not at constantly at the forefront of a business’s mind, chances are their needs are not being met and they ultimately won’t stay loyal. Managing director Tom Harris stresses the importance of this philosophy, “As we expand into new markets, one key issue is to ensure that those new operations carry on the Live Innovations philosophy, “Take care of the customer, and they take care of you”.”
Press release distributed by Pressat on behalf of Live Innovations, on Tuesday 22 July, 2014. For more information subscribe and follow http://www.pressat.co.uk/