In any economy–especially a tough economy, there are plenty of ways to increase business. One of the easiest and most effective ways is to increase the number of repeat customers and sales.
Why is it so easy? Because all it takes to start is 3 simple steps, and you can build a loyal customer base that steadily grows and grows, with increased repeat customers and sales.
Here’s how to pull this off:
- Identify Who Your Current Repeat Customers Are
- Find Out Exactly Why Your Key Customer Profile Buys From You
- Make A Strong Offer Geared Toward Your Key Customers
Go through your past sales and transaction data. Find out which customers have given you, or currently giving you, the most repeat sales. Look for patterns in their profile. Do most repeat customers come from a specific zip code? Did most of them order one your products/services early on? Did most of them come from a specific referral? What do they have in common? This is your key customer profile.
Contact 15 to 20 customers in your key customer profile above. Get them to tell you why exactly they buy from you. Find out what motivates them to go to you instead of your competitors. Do whatever it takes to get them to answer honestly, and the more specific, the better. The most common response they give you will be the key benefit your business offers to them. Don’t forget to ask how they found you (if you don’t already know). That’s an extremely important bit of information that will help guide your future advertising and marketing initiatives.
With the key customer profile, the key benefit that drew them, and knowing how most of them found you, you can now make them an offer they can’t refuse. This offer should include the key benefit that drew them. It should be addressed to their general profile. Use this offer in marketing or sales campaigns that target new prospects that fit your key customer profile. This is where that previous bit of information comes in handy–invest in campaigns where most of your key customers heard about you or came from.
Here’s an example. Suppose you run an auto shop, and you found out most of your best repeat customers come to you for fixing flat tires. Your past sales data shows that most of them live in the next city over, and drive toyotas. You contact 15-20 of these customers and find out most of them are older males, and the reason they come back to you over and over is for the fast, friendly service. Most of them found you through your PennySaver ad.
Your next, and best step is to place an ad in the PennySaver. Advertise “fix flat tires in under 30 minutes or your service is free!”, include a 10% or more discount, place it in the PennySaver for the next city over and try to specifically draw attention from Toyota owners (if possible). See if these ads attract more key customers and increase repeat sales. Keep tracking and monitoring the results.
Doesn’t sound too hard right? It’s not, yet few businesses do it. You can take advantage of their inertia, and your customers and your pocketbook will love you for it!
When you find something that works, do more of it.
What are your tips for creating customer loyalty and repeat sales?