Are you making your customers feel left out?
Have you ever gotten excited over an advertised offer only to read the fine print that says something like “offer available to new customers only”? Many businesses focus their marketing efforts on generating new customers while forgetting the golden opportunity that repeat customers provide.
Nearly every sale has a repeat potential. It is not only easier, but also more cost-effective to market to an audience who has already done business with you (hopefully their experience was positive). Not only are they familiar with you and your business, but they have already shown interest in your products or services.
In addition to repeat product sales, up-selling is a great way to target current customers. For example, “if you like XX product, you will love QQ.” Customers who are educated about their purchases feel more confident making informed decisions and will view you as the expert. Avoid being pushy, or you will drive away your current customer base. Instead, offer a lucrative discount that will do the selling for you.
In addition to increasing sales volume, current customers are also a potential goldmine when it comes to referrals. Customer referrals will not only help you build stronger relationships with your current customers, but will also help you expand your customer base through increased awareness to prime prospects.
There are many ways to generate customer referrals, but one of the easiest occurs throughout day-to-day conversations. If a loyal customer compliments your business in casual conversation, ask if you can use that statement as a customer quote.
Repeat customers offer stability and predictability — a must for any successful business. After all, happy customers can sell your business just as well as your sales team.
I’ve always wondered how fancy coffee shops could charge so much for a product that is worth pennies on the dollar. But I recently had an eye-opening experience that caused my opinion to sway. While feeling slightly impatient waiting for a cup of joe, my attitude was shockingly transformed by the laid-back atmosphere, the enchanting aroma, and the unique boutique-style tables and chairs at my favorite coffee shop. For a moment, I forgot why I was in such a hurry. Time stood still, as I was engrossed in a coffeehouse state of mind.
As an entrepreneur and small businessperson, I enjoy stories of other entrepreneurs who overcame obstacles to realize their dreams. One such story involves Bette Nesmith Graham, a secretary in the early 1950s, struggling to support herself and a son. Frustrated with having to retype entire documents because of simple typing errors, Graham invented a white liquid paint that would cover those mistakes, dry quickly, and allow her to type over the affected area once it had dried.
Appearances are critical in business… especially online. Your potential customers want to know if your website looks trustworthy. We’ve all heard the phrase “the appearance of impropriety.” The last thing any of us wants is to have that phrase linked to our companies and their websites.