Promise and Over-Performance
When trying to attract new customers to your brand, it can be tempting to present your brand in a state that is better than it is. Always be careful not to exaggerate your products’ key differentiators to increase your packaging and marketing effectiveness. If you can’t keep a promise, don’t even make that promise. Also, if you are well-executed, you are sure to grab your customers’ attention if you do it right. Always underestimate your services, manage their expectations well, and then exceed them. By this, you will be capable of exceeding your client’s expectations and getting great reviews and maybe even referrals. However, it would be best if you did not underestimate your abilities to the point where you lose your customers. There is a difference between reducing your power and managing expectations.
Don’t bend Corners
In 2011, Blackberry’s entire network suffered due to the company’s refusal to invest in a new system upgrade to avoid incurring additional costs. This wrong decision cost Blackberry 10% of its market share that same year. It shows that trying to cut corners in your business can cost you your good name, market share, and customers.
Keep your Brand simple
In today’s world, where attention intervals are shrinking and the virtue of patience diminishes by the second, anything that isn’t so simple hardly attracts attention. Products and services need extensive learning curves or that require a lot of effort to figure out how their work will be disappointed by customers. Always try to keep any product or service as simple as possible.
Customer Service is everything
For customer service, you should always provide the most popular services. Even if your competitors copy your business, they will rarely be able to copy your customer service. Business customer care should not be just a foreign speaker who cares less about their problems, as it is well irritating your client.
Use Social media to your Advantage
Social media has become an essential tool that every business owner should take advantage of to grow their business and brand. From Instagram to Facebook to Twitter, Pinterest, and up to Google Plus, there are plenty of opportunities for any entrepreneur who takes the time to launch a carefully managed social media campaign. 82% of small business owners already use one social networking site to help grow their business. Having a command social media presence can help grow your business tremendously but to get to that level, you first need to develop a large following and learn how to prepare the content they will strive for. To properly use the power of social media, you must include specific components such as listening to your audience, sharing messages that your audience will appreciate, and getting others to share your message. Having engaged and related content will allow people to share such content and, as such, will expand your audience to many followers, potential fans, and customers.
The list of strategies to use to retain existing customers and build brand loyalty is nice to note that constantly lowering the price is not a good idea.
If you can use price cuts as a competitive advantage in your business, you will be in a position where you will be accountable to other business owners who can charge a lower price than you. If your customers trust your brand or the quality of the service you offer, they are more likely to spend more money on your product. While constantly discounting your products and services will ensure your business proliferates, you will later find that once you get into price wars, it will be tough to back down and demand at the total price. Trying to “bribe” your customers to hold with your brand is not the right move to build brand loyalty because they might take the bribe you offer, but they still won’t feel attached to your brand. A brand to make them want to come back later. The key to brand loyalty is not to cut prices but to know what your customers want and offer them something that will add value to their lives.
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