According to entrepreneur Alexei Orlov of MTM, “once a company has identified a consumer base that is loyal to the company‘s products or services, it needs to make sure that those customers stick around and keep coming back. To find its loyal, or repeat buyers, a company should look at the current best buyers, which are those who are repeatedly making purchases and are speaking highly of the business.
These are a group of buyers who have some common traits for every company, and getting their feedback is one of the best ways in finding out what they value, offering those things to other buyers, and retaining more customers.”
Companies can conduct interviews on a regular basis with the relevant repeat customers, and see how well they’re performing. It’s especially important to do this during times of change, or whenever a company is growing, as during these periods businesses need the most insights into what is working.
If there is any method that’s extremely effective, it can then be leveraged even further, while any strategies that aren’t working, can be avoided in the future. To get the best possible information out of each interview, which then gets to be reviewed by the company, communication should be open and transparent. Additionally, the company should be using KPIs wherever possible, in order to see the exact points when things start improving.