To become a successful business, there are many parts of the jigsaw puzzle that you have to piece together. Having an idea is obviously the first step but implementing that and creating a plan of action is the stage that determines whether your idea will be a successful one or one that gets tossed onto the rubbish heap. Repeat business is a term associated with any successful business owner. The simple logic dictates, that if a client keeps coming back to you for work and the services you provide, then you are probably doing something right. This is true for every industry and line of business. Winning the customer is the first battle but retaining their interest and business is what furthers your business reputation. But how can this be done? What factors do you need to look out for? What does the customer expect?
It would be an easy world if there were just one or two boxes to tick to become a successful business but on the customer service side of things, there are a few essentials that can be practiced to maintain positive relationships and keep business on the rise. Communication is paramount in life itself and it is what everyday activities are based on. And the need for communication in the business setting is just as important. Communication can come in different forms; emails, telephone calls, newsletters, post or social media but regardless of what form something is communicated in, there is always a message to be given. And it is this message that will stick with the customer. The way the cycle is completed is if the customer not just acknowledges this message but shows further interest in it.
Communication is also fundamental for the establishing of trust between two parties. The more communication there is, the more the relationship grows and the end result of this is a mutual trust between the two parties. It is important to note that communication doesn’t always equate to trust. All customers should be treated uniquely and a product you are selling won’t necessarily suit everybody. Therefore, it can be a useful weapon in your arsenal to keep an eye on what your customers are consuming and tailor your messages towards that. The reason that the last few sentences are deliberately vague is that the idea of consumption applies to all industries, regardless of whether it is online gambling, a DIY store, selling Christmas trees or working in the Stock Exchange. The communication part is generic to all industries, but the tailoring is what can promote you above the rest. By monitoring your consumers (in a legal way), you can play to their interests and adjust what you are saying to them to play to their interests, which in turn, can help in building greater trust between company and consumer. A bond is created and can be furthered with further communication about related topics to their interest.
There is also more sentiment attached to this ‘targeted messaging’, as you are showing the other party that they are your focus and that you’re not just appealing to the masses. It’s a simple touch but people just want to feel loved. The customer doesn’t necessarily expect this treatment, but such attention will act as a bonus to them and this can only work in a company’s favour. There is however a fine line to tread in terms of regularity of ‘targeted messaging’. Customers like to feel loved but the one thing most people despise is being spammed. If content is being sent to customers too regularly, they might get the feeling they are being harassed.
A good example for all this is with Forex companies. In this industry, there is not just a fine line to toe with the regularity of contact with customers, but there is also a balance to find with regards to ethics. Although Forex companies may advertise, they also have an obligation to ensure that individuals are made aware that their capital is at risk prior to any investments being made. Therefore, picking the moment to interact with the clientele is key. Incentives come in the form of standard welcome bonuses, no deposit welcome bonuses, trading contests, Forex draw bonuses, rebate bonuses, forecast bonuses, as well as many others. There are often country restrctions, as well as terms and conditions, so it’s becoming evermore important to analyse what bonuses are available on the market, and select one which fits best for what the trader is looking to achieve.
Another tactic deployed by many companies are rewards for loyalty. In the travel industry, companies like booking.com are known for rewarding long-standing customer relations with discounts, that they call their “Genius” scheme. This allows customers who regularly use booking.com to book their hotels to receive a further 10% discount on their stay. Another simple, yet very effective way to build solid, killer relationships with customers. Seasonal rewards are also very popular amongst the majority of companies. If we take sports as an example, there always times in the year when there are less or more sports televised. Therefore, finding the right time to treat your customers is also important.
Whatever strategy you implement to engage with your customers, the main thing is communication. People in life talk to their friends, family and sometimes pets everyday so it shouldn’t be any different when conducting business. The trust you build and maintain with the customer is a building block for repeat business. Nowadays there are so many platforms that companies can reach out to people on so there is no excuse not to engage directly with your customer.