Introduction
👉 Do you want to retain your existing customers and create new customers for a lifetime? .
Read this complete article to know ideas/low-cost tips to create loyal customers. These ideas will help you retain your existing customers and create new customers for a lifetime.
Tip #1. Customer's Name is the Sweetest Desert to Him
Customers love to hear their names from others.
if you are a small shop owner, you should give a personalized touch to your customers by greeting them with their names. Apply this little tip, you will get big results.
it is psychologically proven that every individual loves to listen his name.
In a survey of 100 people it was found that waiter's tip increased by 14% when gives good-quality mint along with the bill at the time of clearing.
When there were children along with the customers, waiters bring candy for kids instead of mint and this increase their tip to 27%.
Though it won't cost much, if you give your customers some specialized, personalized and customized service, they will come to you again and again, which will help you increase your brand value, brand equity, and sales.
Tp #2 Co Creation of Innovation with your Customer
Whatever changes you are planning to bring in your products or services, you should take extensive feedback from your customers, Your customer should feel that he/she is also the part of the innovation. This model is called the ABCDE model.
A-Analyze the needs of the customer.
B-Brainstorm the actual requirement of the customer.
C-Co-creste; involve your customer In the product's creation.
D-Deliver
E-Evaluate
This is one of the reasons for Subway's success, as the customer creates its own customized meal. Co-creation empowers the customer and If the sandwich does not taste good, then also the customer doesn't mind as he himself, was involved in creation.
| Caution |
Don't Innovate on your own; involve your customers In the process.
There are two ways of innovation - ‘Manufacturer Led Innovation’ and ‘User-Led Innovation’. Let us understand these two types of innovation with the help of an example of 3M Company (a multinational company).
"Manufacturer Led User-Led Innovation
User Led Innovation"
When 3M Here, the company
innovates without company innovates
taking much from participation/feedback
the customers. feedback from the customers
3M brings anew 3M brings another
product using product using User-Led
Manufacturing —_— innovation and Its sale
Led innovation, its crosses $150 million. a
sale was $19 million
👉
When you co-create with the customer the acceptability success of the product increases many folds, as seen in the above example.
Tip #3: Customers Love loyalty program if you make it Easy for them
👉 A customer is ready to take your service again if you give them the right reason to come back.
👉 You can give two types of benefits, ether financial benefit or emotional/psychological benefit
👉 Suppose you have three categories of cards, namely, Ruby Emerald, and Diamond. A customer will get ready to take Diamond card if you make him feel that Ruby end Emerald card holders are Inferior to him. You should make hun feel like a king
Tip 4 Frugal Wow and a Delightful Surprise
Actually, there is not much cost involved in this, you just need to delight the customer You don't need financial wow, you i frequent wow.
if you are on a call with a customer for a. very long time and you know it will further ‘take long to wrap-up the call. You know that the customer is hungry, so while on call, you order a pizza for him, and when pizza will come, tell him the reason for your gesture However, it just cost you rupees 200 but the customer will remember it forever.
Tip 5 Don't see your Product as a Product see it as a Project
Don't sell your product as a product, sell tt as project management. Remember there are three pillars of Project Management - Scope, Time and Cost.
Scope includes deliverables, specifications, objectives, exclusion, constraints, and characteristics. Here, you need to see whether you can under-commit or overdeliver your customers.
In case of Time, you need to see whether you can deliver your commitments before the given timeline
You must know, India is # very cost sensitive or price sensitive market, so if you tan give some discount or scheme to your customers they will keep on coming to you.
Emotional Story
f the = Neuro-Lingusstic Programming (NLP), humans forget the
deta, fects, and figures but remembers a story
ta there any powerful story in your sales Pitch of can you create it?
Our Prime Minister, Mr Narendra Modi often connects his audience with powertul,
visionary and compelling stories, which has done wonders for him
A story helps your customer to connect with
you and your product, which will help to increase sales.
Tip 7 Sell Exprience over Money
You need to sell an experience to customers, not product Experience creates brand recall value.
Below are some examples of populer Ad-Campaigns who are selling experience instead of product, which is helping them to gain recall value
There are many brands that do not sell the features of thew product but sell the experience attached to them.
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