By Olusegun Akande, founder of Samis & S&T Enterprises
As the UK’s recession worsens and consumers continue to feel the pinch caused by the cost-of-living crisis, many stores (online and in-person) are under pressure to retain existing customers and win over new customers to keep their businesses going in 2023.
Whilst smaller shops and ecommerce businesses might not have the reputation and accessibility of some of the larger supermarkets, there are benefits to being small and nimble, which means a leg up over the bigger players too. Here’s how small commerce businesses can continue to build relationships with customers and increase their loyalty, even in a recession.
Keep things personal
Whether it’s in-store, online or through social media, customers still respond well to a personalised service. Whether that’s the cashier notifying them that their favourite product is back in stock, or a response to a comment they left on your social media pages, small personal gestures can increase your relationship with your customers and in turn, can keep them loyal to your services.
Ask your customers what they want
This builds on my point about personalisation, but if you have a group of customers that regularly buy products from you, or come to your store, ask them what it is they enjoy about the experience, why they come to you and what they would like to see more of.
This doesn’t just tell your customers that they’re a valued customer and that you value their opinion, it also offers you free insight into how to build your business in a way that customers will respond well to, and increase your profitability. It can also work the opposite way – asking your customers what they don’t like. Showing you which products, services or aspects of your business that might not be generating value, or stopping the sales pipeline. Customer pet peeves might include long queues (if in person), not having a search function on your website or a complicated checkout process.
Introduce a customer rewards scheme
Introducing a rewards scheme is a great way to keep customers coming back to your store. Sometimes, the software programmes that your loyalty rewards scheme is built through enable you to track what products your customers buy the most, the money they’ve spent and how frequently they shop, so this can also be a way to see what products are most popular.
Show customer’s the value in shopping with you
The tactics mentioned above are great ways to drive customer loyalty, but ultimately it comes down to whether you can save customers’ money. It’s important that you do offer products at a cheaper rate than competitors; highlight it on your website or showcase it on social media. Customers will pay attention and it will help to drive new customers to your store.
You could even go a step further and get customers who have saved money to appear as case studies on your social media or website. Nothing is more persuasive than a real world example!
As you can see, there are a multitude of ways you can engage customers to keep them loyal during a recession, it’s just a case of getting creative.
