Covid19 has shaken the world economy. Businesses are facing huge losses, and small ones have been adversely affected. Some of them have even cleaned out completely as they failed to cope up with the current situation. If you own a small business and you could see it not running well, then you need help!
The biggest challenge for businesses at this time is to retain its existing customers as building new customer line is nearly impossible in this risky situation. Study shows that the existing customers of your business tend to spend 33% more than the new customers. It is five times easier to retain an old customer than acquiring a new customer in terms of cost. So, it would not be wrong to mention that retaining existing customers will be helpful for reducing the COVID effect on your business.
COVID has affected not only the businesses but also the consumers. They are finding difficulty in shopping, paying high costs and also compromising on certain aspects. So, COVID has created a middle ground for both buyers and sellers. It’s the right time for small business people to act wisely and do something get them as well as their consumers out of this COVID trouble. Let’s check out some suggestions or proven strategies to retain your existing customers and recover from this tough time.
7 Proven Strategies For Small Businesses
- Stay in touch with your existing customers through social media platforms, WhatsApp, or email.
- Interact with your existing customer regularly and in this manner, meet new customers.
- Get your business online and showcase your products/services online.
- Offer different payment methods like online payment, COD, Paytm, GPay, etc. so that they can enjoy cashback and special offers.
- Create audio and video manuals of your important products so that customers can understand your product range in detail and know their usage well.
- Make the best use of delivery methods like home delivery, workplace delivery, etc. or make an alliance with any good delivery service provider.
- Follow all these suggestions immediately or hire an experienced agency that can help you in doing this for your business.
Do you need help in retaining your existing customers and bring your business online? Get in touch with us today!
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