In business, there’s always talk surrounding how to land new clients – and that’s obviously important. After all, you can’t expect to be successful unless you’re bringing in a steady stream of new customers. But more important than generating new business is actually finding a way to keep your existing clientele happy. In fact, the cost of retaining existing customers is actually 5-25 times lower than acquiring new ones, which means you’ll achieve a much higher ROI in the process.

Let’s take a look at a few proven strategies for keeping those loyal customers coming back again and again.

Make it convenient.

The easier it is to do business with you, the more likely your customers will be to stick around. People tend to take the path of least resistance, and they appreciate when brands do things to make their lives easier. Play on this by leveraging the convenience factor, whether it’s offering 24/7 support via online chat or providing the option to transact via a mobile app. Listen to what your customers want and then use that feedback to create a level of service that exceeds their expectations.

Add a personal touch.

In a world that is increasingly digital, personalization has never been more important. People want to feel like they’re more than just a number. They want to feel connected to the brands with which they do business. This can be challenging, particularly as your company grows, but there are still ways to establish this personal touch, even for larger organizations. Identify your target audience’s preferred channel of communication and give them what they want. And don’t forget to inject a little personality into your interactions. This adds a level of humanity that can do wonders for relationship-building.

Solicit feedback.

There’s no better way to deliver exceptional service to your existing customers than to ask them what that type of exceptional service means to them. Solicit feedback from your clientele every chance you get. Ask them to complete surveys to let you know how they feel about doing business with you. Invite them to share their experience on social media and other review sites. Most importantly, listen. Use the information you gather to improve your product or service, and you will be repaid with customer loyalty.

Incentivize.

While it’s true you can’t necessarily buy someone’s business, you can persuade people to stick with your brand by making it worth their while. There are a number of ways you can do this. For instance, you could offer a rewards program through which customers can receive discounts or other offers by doing repeat business with you. Or, you could invest in gamification, where customers can earn things like digital badges, the more they engage with you. As an added bonus, incentives that include referral rewards will help you generate new business while also solidifying the bond with your existing customers.

Prove your worth.

Perhaps the best way to keep your customers coming back is by serving them better than anyone else. Don’t just call yourself the best. Aim to prove it to your clientele with each and every transaction. When people begin to recognize what sets you apart from the competition, they’ll naturally gravitate toward your brand. And when you go above and beyond to over-deliver, your customers will further your impact by leaving positive reviews and providing you with powerful social proof.

With the value of an existing customer far greater than that of a new one, it’s clear that retention must be a priority for business owners. The five simple, yet highly-effective strategies above should help you generate loyalty that will sustain your success for many years to come.