Customer trust and loyalty are essential for building a successful business. And while this may sound obvious, it’s hard to overstate the value of establishing a solid base of long-term customers.
That’s because customer retention is much more cost-effective than constant acquisition. In fact, it costs five times more to earn a new customer than it does to keep an existing one1.
And beyond retention, 83% of customers say they’d recommend a business they trust to others. This means that earning customer trust can not only help you keep your existing customers, but can also help you passively earn new leads and sales through word of mouth2.
It’s clear, then, that building customer loyalty and trust is a worthy goal for any business. That’s why in this post, we’ll go over six strategies you can use to build long-term relationships with each of your customers.