Recognising and rewarding loyal customers can hugely mutually beneficial
As business owners, we tend to spend a great deal of time and money chasing new customers, and often forget that the shortest way to increased sales and profits is through our existing customers.
Our existing customers not only know us and like our products or services, but they are the most likely to buy from us a second or third time etc.
Here are 5 quick tips on generating more sales from your existing customers;
1. Let them know they’re important
Don’t send your existing customers standard marketing messages. Take the time to send them a personalized email, or maybe even a handwritten card. Let them see that you have taken the time to actually think about them on an individual level. This will have a huge impact in terms of building stronger relationships.
2. Give them the best deals
Rewarding loyalty is not a new thing, but often gets overlooked by smaller businesses. You don’t need to have an expensive or complex loyalty scheme in place, you can just reach out to your existing customers acknowledging and thanking them for their purchase and offer them a special ‘existing customer’ reward.
3. Let them help you
Your existing customers are a great resource and asset to your business and can really help you develop new products, or refine your messaging. After all, they know what it’s like to be a customer and make a purchase from you and therefore they are in the best position to tell you what really works and what doesn’t. You just need to be prepared to ask and be open to their responses.
4. Be honest and open
With your existing customers, it’s important that your messages and communications with them are open and honest. Your existing customers don’t need to hear your marketing messages – they’ve already made that initial investment in buying from you, so now it’s time to build on that relationship with more direct and personal communications, which will build greater trust and more sales.
5. Be open to their feedback
If you want a shortcut to getting new customers, then the best place to start is with your existing customers. Take the time to invest in some simple market research, or survey your existing customers and discover what was important to them in their decision-making process? If you ask the right questions, your existing customers will provide you with the best marketing messages to attract more customers, just like them.
So, invest some time and money on your existing customers and see your sales and profits grow almost immediately.
If you’d like to learn some more business growth ideas and strategies, then come along to one of our weekly Bizmosis® events.