What’s More Important than Getting New Customers? (Spoiler: Keeping Them!)
Over the last few years, there has been a dramatic shift in attention. The efforts that used to go into acquiring new customers is now going into retaining the ones you already have… and the reward is so much bigger.
It makes sense when you think about it, and shouldn’t need much explanation. So if you’ve been chasing that same objective but aren’t too sure how to achieve regular, repeat sales within your business model, here are some examples:
The ultimate source of recurring income, subscriptions can be a creative way to offer your goods or services in an ongoing way. Getting creative may sound like a bigger challenge than it actually is. Subscription options are available for everything from software licensing to cosmetic samples, so the biggest challenge is selling the value (benefits) and providing the opportunity for customers to conveniently subscribe, rather than set their own purchasing schedule.
Loyalty programs are everywhere… and luckily customers won’t really need another card or key tag to take advantage of a digital loyalty program. (If you are primarily a brick and mortar business, offer an app!)
While it can be expensive to set up and maintain a loyalty program, it is well worth the cost because it motivates customers to return. Most loyalty programs offer a points system. For every dollar you spend, you get so many points… and points can be redeemed to earn different rewards. Whether it is a free product/service, discount, or even something else entirely… rewards are a big incentive for customers to patronize you… regularly… and to spend more money!
In general, when you invest in conversions you will find that the effort it takes to maintain regular, repeat conversions is a far better investment than marketing to new audiences. Let the happy customers take care of that for you instead.