Kitply Industries - February 2020


Boosting customer retention by any amount can have a huge impact on your revenue. A study conducted by Bain & Company and reported by the Harvard Business Review found that even a 5% increase in retention can boost revenue by 25%–95%. In short, your ability to retain the right customers can make or break your business. Businesses are constantly searching for ways to achieve customer loyalty. After all, it’s far more cost-effective to keep the same customers coming back to you than it is to constantly go after new ones. Marketing to new customers can cost up to 25 times more than simply catering to your existing customer base. Loyal customers who love your business are an incredibly powerful asset. They can do a lot of your marketing for you through social media and other word-of-mouth channels, convincing others that your business exists and has value. But how do you get to that point? How do you develop a strong bond with your customers that is hard to break and will keep them coming back time and time again? It really starts with stellar customer service. Poor customer service is the No. 1 cause of customer loss. Upward of 71% of people say they cut ties with businesses over poor customer service. Customer service includes your employee-customer interactions, your response to problems, your response time , and your approachability on social media. Look to businesses that have figured out how to do customer service right, like Apple, LEGO, and other beloved businesses in your community. Consider what you can incorporate into your own customer service experience or become a customer yourself and see just how far other businesses are willing to go for you. TURN AMAZING CUSTOMER SERVICE INTO A MAJOR REVENUE SOURCE GIVE LOVE, GET LOVE Another way you can win loyal customers is just by being present. One way to do that is by answering phone calls, emails, and online inquiries immediately . The more time you put between the initial customer contact and your response, the worse it looks for you. When people visit your business in person, be there to offer a hello, answer questions, and engage in casual conversation. When you’re there for your customers, your customers want to be there for you.

When you hop on social media, what do you see? A few status updates from your friends, a family member who just shared a video of a cute animal, and here and there across your feed, ads from businesses. Social media, or rather an online presence, is immensely important for businesses. In our industry, woodworkers adept at creating and managing social media accounts, websites, and blogs are significantly more likely to increase sales than those who don’t. Online presence increases recognition, strengthens customer loyalty, and ensures company credibility. Why Is It Important? Today, businesses without a website are virtually nonexistent. Years ago, many companies considered having an online presence as an unnecessary and avoidable step. As we move further into the 21st century, however, it is becoming mandatory. But the thought of getting online can be overwhelming. So, where do you start? First Things First The most basic first step is to create a website for your business. A business website gives consumers a chance to learn more about who you are and what you offer. If you choose to, you can build your own website using online tools that are easy to manage such as Doodlekit, Wix, and Weebly. If you can afford it, hiring a developer is an excellent investment too. We have an in-house web development team because our website is a fully functional online store. It allows our customers to not only browse products and make purchases but also manage their account by getting order status and printing invoices. Turn to Social Media As two of the most popular social media websites, with over 2 billion users — Facebook and Instagram are a good starting point. Additionally, Facebook/Instagram advertising is completely integrated and easy to set up. Facebook profiles encourage users to share, like, and discuss their interests through online tags, making it easier for you

to target your ideal clients. Tools for Maintenance

In addition to creating a website and social media profiles, you should set up accounts for websites built explicitly for building your woodworking business. Two of these sites are:

Houzz, which gets 5.4 million visits per month, is an ideal place for customers to look for remodels or help with their home projects.

Home Advisor, which gets 2.7 million visits per month, is for customers who are looking for local contractors/woodworkers. They can search by region to find their best fit. At Kitply Industries, I work tirelessly to improve our online presence through our website, blog, Facebook, Instagram, Twitter, LinkedIn, and Google. Each boosts our outreach and credibility. Don’t neglect your online presence any longer; give your company what it needs by using the tools the web provides (often for free!).

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