Data from the American Marketing Association (AMA)'s "Customer Satisfaction Handbook" shows that:
Out of 100 satisfied customers, 25 new customers will be brought to a business.
For every one customer complaint received, it means there are 200 other customers who feel the same way.
The cost of attracting one new customer is 5-6 times higher than retaining an existing customer.
A 20% improvement in customer service levels can lead to a 40% increase in sales revenue.
From this, we can see that retaining old customers is the best way to reduce sales costs and increase profits. Home textiles terminals should establish a consumer-led mechanism, shifting from a seller's market to a buyer's market. Customer relationships have characteristics of being non-replicable and non-substitutable, making customers feel a strong sense of identity and belonging with the company. Retail outlets are non-renewable resources, so they need to quickly expand their network.
The best way to retain old customers is to become friends with them or at least build an emotional bond, making them like your store’s environment, you personally, and your product style. Here, we introduce the concept of emotional marketing. People are emotional beings. Treat your customers as sincerely as you would treat a friend. Place some tea sets in your store, set aside a certain amount of space for drinking tea and exchanging ideas with customers. Don't talk about sales, just chat casually. Guide customers to analyze and study products; you may take them on tours, let them give opinions, and make them participate.
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