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Actionable Ways Every Startup Can Use to Retain Customers

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Customers are the backbone of every business, including startups. That being said, most startups often focus on attracting new customers and converting leads by launching different types of marketing strategies. That strategy applies to online media like LinkedIn too. Therefore read EarthWeb’s Meet Alfred review and see all the growth service features here.

While it’s crucial to keep up the lead number day by day, retaining old customers moreover using customer onboarding videos is, in fact, beneficial in the long term. The existing customers, especially, are vital in making 55-70% of sales compared to new clients. What’s more, over 68% of startup sales come from existing customers.

Those staggering numbers perfectly show how past customers are paramount for a startup to build a large, reliable customer base.

However, a study cites that companies lost around 20% of customers each year due to a lack of brand-client relationship. This results in wasted marketing resources used to convert them. In the long term, this lead acquiring strategy won’t be that effective when you simultaneously lose customers right away.

Why do customers leave?

So, what makes existing customers leave your business? To answer this question, let’s take a look at some factors that initiate them to choose other brands.

Brands don’t care anymore

This is one of the reasons why people run away from your brand. Customers are used to getting ‘some treatment’ when they purchase your product or leave a great review about you. They are willing to promote your product to their closest one because simply they find it valuable and satisfying.

If you pay attention to these customers, they will feel more appreciated. Eventually, your customers become loyal and will go back to you when they need your service.

At the same time, customers may file a complaint about your product that they find upsetting. When you ignore this feedback, customers will see you as ignorant and not care about them anymore.

Dissatisfied with your customer service

Customer service is the heart of your business. The old adage which says that ‘customers is king’ is still relevant and should be deliberately met to increase their business experience with you.

Making sure to serve the best for every customer is vital to improve your startups in the future. When customers don’t find your customer service helpful, they can be easily upset and leave you for your competitors.

Five methods startups can retain customers effectively

Getting new leads and conversions is essential for the business’ sustainability. However, make sure to take care of your past customers before they move on to your competitors. The following are the top five methods you can try to retain customers.

1. Listen to your customers

Customer reviews and feedback are a great source to know whether a business needs improvement. Their voices are often honest and constructive to take into account.

Listening to their feedback will help you understand how well your marketing strategies are performing. You can learn many things to elevate your business from your customers’ perspective, especially for a startup that requires extra room for improvement.

You will learn more from your customers than anyone else. Their reviews allow you to notice what areas that need improvements and what areas you just nailed them right.

Suppose many customers complain about ruined packaging. In that case, it’s time for you to check the supply chain and packaging department whether there’s something wrong with the delivery or the materials.

2. Deliver their complaints faster

Listening to customers’ complaints is actually a powerful way to gather enough business-important information. It allows you to understand how your customers really feel about the product or service you deliver.

However, what matters the most is the action right after you receive that feedback. It’ll be better if you can reach out to them directly using a call center, not via social media comments.

Realizing the issue is critical for you to increase credibility. When you solve an issue faster, customers will trust your brand as they can easily ask you whenever they run into problems.

3. Personalize your messages

One way to strengthen your relationship with customers is by making a personal approach in a business sense. For example, you can send personalized marketing emails using your customers’ first names instead of a plain, overused ‘Sir/Madam’ template.

 

Using the personalized message on your site or social media can significantly improve your bond with the customers. You can also include engaging content like explainer videos or even GIFs and memes to hook their attention.

When you succeed in attracting customers, sending promotional information becomes seamless. You don’t need to worry about driving away customers when you have a friendly relationship with them.

4. Offer incentives

Another way to retain customers is by offering incentives for a period of time. Well, who doesn’t love discounts or even free items? Create a specific sales page on your website and direct your customers to it.

You can manage a huge offer when it comes to big events, like Valentines and Halloween. You can also incorporate a particular strategy to attract past customers as well as potential customers with interesting offers. That way, even old customers can’t resist joining your incentives programs.

If you have an offline store, you can use things like QR code and ask your customers to scan it, so they can see your special offers.

5. Use email automation to re-engage customers

When customers are inactive for some time, you need to build communication with them. Surely, you don’t want to lose past customers because of a lack of brand interaction.

To make sure they don’t go to other competitors, send them email automation to attract them into your brand. You can send an email that says ‘you miss them on your platform’ and give them an invitation code that leads to a discounted product.

With email automation, you can also increase your relationship with your customers effectively. Promotional emails and newsletters are some of the most effective ways to engage with customers.

Takeaway

Lead conversion is essential for every business, especially in a startup where customers are the biggest assets. However, many have failed to care about existing customers as they focus on acquiring new ones instead.

Loyal customers have made up over half of the business sales. When you lose these clients, you practically lose the majority of your sales and waste so much money in converting new customers. Therefore, it’s essential to retain old customers for your startup sustainability.

Author

Andre

Andre Oentoro is the founder of Breadnbeyond, an award-winning explainer video company. He helps businesses increase conversion rates, close more sales, and get positive ROI from explainer videos (in that order).

Twitter: @breadnbeyond

Email: [email protected]

LinkedIn: https://www.linkedin.com/in/andreoentoro/

 

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EFFECTIVE BUSINESS SIGNAGE STRATEGIES FOR SUCCESS

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EFFECTIVE BUSINESS SIGNAGE STRATEGIES FOR SUCCESS

In a world filled with constant distractions and competition, effective business signage can be a game-changer. It serves as your silent salesperson, drawing potential customers’ attention and guiding them to your doorstep. To harness the power of signage for success, consider these strategies.

  1. Clarity is Key – The primary purpose of a business sign is to convey a message. Ensure that your signage is clear, concise, and easy to understand. Use legible fonts and avoid clutter. Remember, a confused customer is less likely to become a paying one.
  2. Location – The placement of your business signage is crucial. Analyse your target audience’s habits and choose a location that maximizes visibility. This might mean near busy intersections, in high foot traffic areas, or strategically placed along highways. Consider the visibility from different angles and distances.
  3. Size Matters – The size of your signage should be proportional to its distance from the viewer. A sign on a building’s façade can be larger than a sidewalk sign. Bigger signs are easier to spot from a distance, but don’t go overboard – an overly large sign can appear obnoxious.
  4. Colors and Contrast – Use colors that align with your brand but also provide sufficient contrast for readability. High contrast between text and background is essential. For example, dark text on a light background or vice versa. Red and yellow are often associated with urgency, while blue can convey trust and professionalism.
  5. Material Selection – Choose durable materials suitable for your environment. Outdoor signs should withstand weather conditions, while indoor signs might focus more on aesthetics. Material selection impacts the longevity of your signage, so invest wisely.
  6. Consistency in Branding – Your signage should be an extension of your brand identity. Use consistent colors, fonts, and imagery that align with your other marketing materials. This builds brand recognition and trust among your customers.
  7. Visibility at Night – Don’t underestimate the importance of nighttime visibility. Use illuminated signs or proper lighting to ensure your message is clear even after the sun sets. This is especially crucial for businesses open in the evening.
  8. Message Rotation – If applicable, consider rotating messages on electronic signs to keep your content fresh and engaging. This can be particularly effective for businesses with changing promotions or events.
  9. Call to Action – Encourage action with a clear call to action (CTA) on your signage. Whether it’s “Visit Us Today,” “Call Now,” or “Learn More,” a well-placed CTA motivates potential customers to take the next step.
  10. Monitor and Adapt – The effectiveness of your signage isn’t static. Monitor its impact and be ready to adapt. If a certain sign isn’t generating the desired results, try a new design or location. Continuously analyse customer feedback and data to refine your strategy.

Conclusion – Effective business signage is not just about aesthetics; it’s a strategic tool that can drive foot traffic and boost your brand’s visibility. By following these strategies, you can create signage that not only attracts attention but also converts viewers into loyal customers. Remember that signage is an investment, and when done right, it can yield significant returns for your business.

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The Power of Custom Trade Show Booths

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The Power of Custom Trade Show Booths

Businesses get a lot out of exhibiting at trade shows. They get to display their products, discuss their services, and make lasting impressions, all through a limited space on a big floor.

And to make the most out of this limited space, that is, to stand out from numerous competitors, brands use custom trade show exhibits.

Think of a custom booth as your temporary headquarters at the event.

While your physical showroom remains stationary, this booth is mobile, bringing your brand directly to the attendees.

Think of it as more than a space of specific dimensions, it’s rather a dynamic representation of your brand, serving as a pop-up shop that encapsulates your brand’s essence.

Supporting your sales team is another crucial aspect of these booths.

A well-designed booth amplifies your product presentations, making key messages and offers more compelling.

It’s a space that promotes interaction, allowing your team to engage effectively with attendees and leave a good impression.

But perhaps the most significant advantage of exhibit rentals is their ability to make your brand stand out.

With countless exhibitors competing for attention, a custom booth, whether grand or modest, creates a visual impact that differentiates you from the crowd.

Moreover, a custom booth tells your brand’s story. Every element in it is tailored to your brand, with a design and layout that resonates with your values, history, and philosophy, and amplifies brand awareness. It’s a statement declaring your brand’s presence and significance in the market.

Contact TrueBlue Exhibits

The benefits of custom trade show exhibits are manifold. It’s more than just a space. It’s a strategic tool that can raise your brand’s presence and influence at any trade show. And if you’re considering one for your next event, TrueBlue Exhibits is here to bring your vision to life.

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Tips for Opening a Bar

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Tips for Opening a Bar

You have a vision of a bustling bar, with patrons enjoying crafted cocktails, good food, and great company, but you’re unsure of where to start. Establishing a bar can be an exciting venture, but it’s also a significant undertaking that involves careful planning, a solid business model, and an understanding of legalities. In this article, we will explore some crucial considerations when opening a bar to help make your entrepreneurial dream come true. Below are four essential aspects to take into account.

Fundamentals of Starting a Bar

Opening a bar starts with a solid business plan outlining your vision, target market, competition analysis, and financial projections. The plan should highlight your unique selling proposition. For instance, you might envision a sports bar geared towards a younger demographic or a cocktail lounge targeting upscale clients. A business plan acts as a roadmap directing your activities and is a crucial tool for securing investors or loans.

The capital required to start a bar is hefty. You’ll need funds for leasing space, renovations, purchasing commercial freezers for sale, liquor licenses, inventory, and employees’ salaries. It’s essential to ensure that you have a budget that caters to all of these needs. Sometimes, startup costs can spiral out of control, so ensure a contingency fund is in place.

Legal requirements are another vital consideration. Ensure you understand the laws governing the sale of alcohol in your state. For instance, what insurance is required? When can you serve alcohol? What permits do you need? Addressing all legal areas ensures you avoid costly fines or business closure.

Crafting Your Bar’s Atmosphere

The atmosphere plays a significant role in drawing patrons to your bar. The interior should be both functional and aesthetically pleasing, reflecting the bar’s concept and appealing to your target audience. Consider aspects such as furniture, arrangement, lighting, and music—all these work together to create an enticing ambiance.

A bar’s atmosphere extends beyond its physical aspects—it also incorporates customer service. Ensuring your staff delivers top-notch service is critical. Keep in mind that your staff is the frontline of your business, interacting directly with customers. Hiring experience, friendly staff, and investing in training can make all the difference in providing an excellent customer experience.

All good bar experiences revolve around quality liquor. Investing in a vast wine and spirits selection can make your bar stand out from competitors. Opt for a blend of local and international brands and consider hiring a sommelier or mixologist to enhance your bar’s credibility.

Marketing Your Bar

To draw patrons, you need a strong marketing plan. Create a unique brand identity and loyal customer base through social media marketing, events, or loyalty programs. Special promotions during slow nights can draw in crowds, and themed nights can also make your bar stand out. Look for partnerships with local businesses or participate in community events.

Nothing beats word of mouth when it comes to bar marketing. Deliver excellent customer experiences and encourage customers to leave positive reviews online. It’s also essential to manage any negative feedback promptly and professionally—this shows potential patrons that you’re committed to providing superior service.

Do not underestimate the power of search engine optimization (SEO). Create a user-friendly website with all the necessary information like your location, hours of operation, menu, and events—optimize the site to appear in local search results. This online presence broadens your visibility and draws in new customers.

Maintaining Success

Maintaining Success

The hard work doesn’t stop once you’ve successfully launched your bar. Monitoring your bar’s performance and making adjustments is crucial for long-term success. Regularly review financial reports, manage your inventory correctly, and adapt your menu to changing consumer trends.

Creating a safe, relaxing environment where patrons can unwind is essential. This means ensuring safety measures are in place and keeping your bar clean—cleanliness isn’t negotiable in the food and beverage industry. Regular inspections of your commercial equipment, furniture, and premises ensure your space stays in top-notch condition.

Keep an open line of communication with your employees. They interact directly with your customers, making them a vital source of feedback. Pay attention to their suggestions and address any concerns—they are instrumental in improving your operations and enhancing customer experiences.

Overall, opening a bar is a sizable endeavor, but one filled with opportunity. With careful planning, strategic decision-making, and a commitment to excellence, your bar can become a vibrant, profitable business. Just remember: quality drinks, excellent service, and a great atmosphere is the cocktail of success in this industry.

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