The aim of every business is to maximize profit making and this is achieved by luring a lot of customers and striving to keep them.
Keeping customers is more important than getting new ones as it’s been shown it’s far cheaper to sell new products and services to existing customers than getting new customers.
It’s also easier to sell a product or service to an existing customer than one who you are still trying to make your customer.
Focusing on existing customers help to generate recurring revenue instead of spending a lot on acquiring new customers.
Most business owners report that one – third to half of their business and revenue comes from existing customers.
The best business model you can employ is to first work and spend on acquiring customers then afterward lower spending on acquiring customers and put it into keeping existing ones.
Focusing on existing customers carries an amazing ROI.
Therefore, we’ll be addressing how you can keep your customers after getting them and also using them to get more customers.
The first step to achieving this to create a record of your customers and sort them based on the volume of products they purchase and also the type of products they purchase.
After doing this you can easily contact each customer via calls or emails based on what they frequently purchase to let them know how you can attend to their needs better.
Keeping and sorting of records especially help to identify big clients that purchase large volumes with whom you then strive to establish a personal relationship so as to keep them coming.
Asides helping you to identify big clients that purchase large volumes, you also take note of recurrent customers who don’t necessarily purchase in large volumes but come often.
These recurrent customers are a good source of recurrent revenue and you can run promos targeted at their group so as to let them know you appreciate them and also encourage them to buy more.
Another good benefit of sorting customers is that it arms you with lists you can upload to Facebook. Why Facebook?
Facebook helps to find other potential customers who are people with a similar profile and similar needs as your customers thereby helping you target your Facebook ads towards these group of people.
After already establishing someone as a customer, do not shy away from showing them other products related to the one(s) they purchase.
This is easy because purchasing from you means they trust you and it pays to leverage on that trust by showing them other related products which they will most likely purchase because they already trust you.
You can easily do this by sending them emails showing items related to the one they purchase that they might have missed the first time.
For instance, it’s a good idea to tell a customer who purchases a certain genre of a book about other books in the genre that you think they’d like.
Another good way of utilizing your existing customers is by implementing a referral program.
This involves rewarding customers who bring you new customers depending on the number of customers they bring.
You can also do decide to give rewards to both the existing customer and the referral.
Rewards can include discounts, gift cards, coupons or any other good reward you can think of that’ll bring a win-win.
Give out gifts and discounts from time to time to existing customers.
There are a couple of situations for this. One is just sending out discounts to all existing customers as this will immediately boost sales.
Another way is by offering discounts and special offers during festivities.
A targeted one is by offering customers who you haven’t seen in a while some discount so as to lure them back.
This is very commonly used and it works well.
The most beautiful about discounts is that customers tend to buy more and even buy items that are actually expensive.
The feeling of having a discount makes customers feel they have an extra purchasing power which then tends to make them buy highly priced items and also purchase more items than they would on a regular day.
You should be careful about discounts though so as to avoid over discounting which would be detrimental to your business.
Discounts when well planned are supposed to boost sales and revenue not bring loss.
Putting all these techniques into methodical practice from time to time would unbelievably boost your business. It works like magic. Bonne chance!