Attracting your ideal customer is important, but retaining that customer is far more valuable. Customer retention will powerfully and consistently increase your food business bottom line.
“A 5% increase in customer retention can increase company revenue by 25-95%.”(Harvard Business Review)
We know that it's far more cost-effective to keep an existing customer than to acquire a new one, so how can you maintain food brand loyalty so your customers keep choosing your food business over all the others?
It's 5-25X more expensive to acquire a new customer than it is to retain an existing customer. (Harvard Business Review).
5 Important Ways to Earn and Maintain Food Brand Loyalty
- Create a quality product that always exceeds customer expectations: Delight the customer every time with product quality that is consistently higher than expected. Keep informed about food production trends. Use professional quality ingredients and equipment to achieve professional quality results.
- Be available and responsive to prospect and customer inquiries: Make it easy for customers to follow you on social media and contact you by email, chat, or phone. Always respond to inquiries and comments in a timely manner.
- Be transparent with ingredient and nutritional information:To better inform your food business customer, include more details than the bare minimum on product labels. In addition to the basic ingredients list, provide nutritional information and detailed descriptions of ingredients and where they were sourced. Provide a link to more detailed data if there is not enough room on the packaging itself.
- Align yourself with similar businesses: Instead of viewing similar businesses as competition, try viewing them as partners. When you work together you open yourself up to their customers and you also reap the benefits of collaboration. Practice mindfulness in your food business. Look for opportunities to work with other local food business brands at the farmer's market, grocery, or specialty store.
- Provide real value to your customers: Beyond the healthy food and low prices they already expect, provide customers with extra value for their dollar, through a membership/loyalty program. Use a simple, cost-effective and environmentally-friendly punch card that customers can use at your local farmer’s market. You’ll get people excited and keep them coming back to maintain food brand loyalty to your brand.
OAFVC Helps Optimize Your Food Business to Maintain Food Brand Loyalty
With OAFVC’s facilities, you can process and fill orders faster, ensure ingredient freshness, and produce consistent quality. Download this infographic to learn more.