The work of a true businessman
The goal is to entice a returning customer,
Give them an incentive to return
Profits you’ll never run out of,
If you’re willing to offer what loyal customers want.
Research has found it’s seven to ten times more affordable to keep customers than to find another one. One of the largest expenses of running a business is getting someone to purchase from you for the first time.
One way you can pay the cost of that expense is to make your customers return to you… over and over again. This is where the biggest profit is hidden. The more customers you repeat with, the more you achieve, and the more long-term prosperity you’ll have. The lifeblood of a business is repeat customers for any company that is able to stand over time.
If a business doesn’t follow the fundamentals of attracting repeat customers puts itself under strain (and the cost) to find new customers constantly. This isn’t just costly and stressful, but it also lowers the chances for long-term growth.
Which is one of the more effective strategies that business owners could employ to ensure success? Create strategies to attract new customers “before” they make a single investment in their business. In the event that they don’t take that initial step amounts to rolling in the lottery.
Here are some powerful suggestions for increasing your repeat customers:
1. Select a product or service That encourages repeat business.
The choice of the best product or service plays the biggest part in determining the amount of return business you’ll earn. One of the best ways to create a culture of customers to return is by choosing the product or service that has these built-in qualities. For instance, products that are disposable or only used only once before being thrown away.
It is also possible to offer a maintenance service that helps the customer conserve or maintain the items they have. In an economy that is tight, people are more likely to keep or protect the things they already have rather than buy new equipment.
Customers are much more committed to services than they would be to products. For instance, you may frequent your mechanic the same way, barbershop, beauty therapist, doctor, dentist or dentist, etc. You likely have the same pool or gardener man, too, right?
2. The Give Fanatical Extra Mile service.
In today’s uncertain business climate, there is a sense that every business is cutting costs or shrinking. At the same time, the rest of us are only able to scrape by. One of the most difficult issues for consumers is ensuring that they’re getting their money’s worth.
Consumer protection organizations, such as The Better Business Bureau, have files filled with complaints from consumers who did not make the most of their investment.
One of the most effective ways to differentiate yourself from your competitors is to discover ways to “over meet expectations.” This is the new norm if you’re looking to make a mark and encourage customers to return for more.
Offering your customer more than they’d like. This is one of the most effective ways I’ve seen to convince customers to come back to you over and over. With more companies doing enough to survive, it’s an easy method to keep you in mind.
3. Keep in touch with your customers.
It doesn’t mean you have to bombard your customers with offers to buy every day. It’s about providing them with gratis information to help improve the items they’ve purchased from you.
Cost-saving strategies and upcoming seminars or customer surveys are just a couple of examples. Don’t stop there; make use of your imagination. If you bought your item or service, what would you buy?
All of this contributes to creating a positive environment that encourages customers to continue doing business with you over and over again. This shows that you value them rather than just trying to offer them something different.
Words to John Maxwell said, “People don’t care about how much you’re aware of until they realize that you truly care.” Giving away “free” details that can improve your customer’s past purchases from you is a great method to show that you care.
People who do not adhere to this method are frequently required to become “pushy salespeople” in order to make it through. This is not a great look.
The key is keeping the “ongoing program” to implement actions that help build and encourage customers to remain loyal.
With today’s sophisticated, knowledgeable, and often skeptical consumers, it takes time and effort as well as go that extra mile. These are the things that most fast-paced, high-pressure marketers aren’t going to take.