Customers are crucial to any business and these days, with high levels of competition you cannot rely on an attitude of 'they need me too'. They will simply go elsewhere, even if your competitor is charging more. A happy customer is a loyal customer, so if you want to retain that customer's loyalty these are five simple steps worth implementing.

Firstly every customer is important, not just the bigger ones. Every customer has the right and the potential to grow financially in the future, which means they will generate extra work and profit for your business as well – as long as you treat them fairly! That means if you take the time to offer special services such as bespoke tailoring to meet your bigger customer's needs, you can do the same for your smaller customers. You only need charge either one a nominal amount to cover your incidental costs. Remember, if they are also in business they need the tailoring to meet their own business needs. This effectively means, by tweaking your product or service for them, you are helping them to grow as well. No job or alteration should be too small.

Secondly you might find that your customers, like most businesses, have cash flow problems from time to time. You, as a good business entrepreneur should know the difference between a good and valuable customer that is willing to pay and one that is simply trying it on at your expense. Sometimes it does not hurt to cut a good customer a little slack if they are having problems with their own customers. It is a vicious circle of credit and cash shortage that can spiral good businesses quickly into bankruptcy. If they are a long-term customer with a history of regular and full account settlement, consider extending their credit terms temporarily. If you insist on full and immediate payment you may push them into the abyss, which means you lose a customer and they will never be able to pay the sum owed. Patience can often pay, just be wary.

Thirdly consider offering a financial sweetener to customers. You can do this on a scaled basis according to volume of business or on a goodwill basis according to customer history or simply for all customers. Expensive accountants are not essential either. There are plenty of accessible workbook style aids available through the internet. All you need to do is decide where they are appropriate to apply, such as for early settlement or bulk purchase or customer loyalty. If you plan well discounts will reward you, not penalise you because: one, your customer is happy and two, you have already allowed, at least partially, for the discount in the non-discounted price.

Fourthly let your customer know they are valued. If it is your business' anniversary consider sending celebratory e-mails to your clients to make them feel part of the family - after all, they are. There are internet programmes available to help with any of this type of circular.

Finally after clients have been dealing with you for a year you might consider a birthday style e-mail to mark the occasion and thank them. Remember: a happy customer is a loyal customer.