The more the merrier. The fact goes along with the saying that it is always good to bring in new people into your shop. But that nowhere cancels out the importance of your regulars, who indeed are your bread and butter. In fact, a recent study by Bain & Company found that when customers come back in, they spend roughly 67 percent more than first-time customers. Which is a very big fact to work in order to increase your repeat customers. Over their lifetime, loyal customers are worth 10 times as much as their first purchase, according to the White House Office of Consumer Affairs. Thus, spending your time trying to figure out a way to increase and maintain your regular customer count is totally worth it.
1. STUDY YOUR DATA WELL
Data is knowledge, knowledge is power. So there is no second thought on the fact that it is definitely very beneficial and crucial to study your data well. Starting from identifying your regular, casual or lapsed customers you can keep digging further to spot customer trends, spending capacity, buying capacity and what they actually buy. All this data can help you make the most important decisions about your business and bring more people in.
2. IMPORTANCE OF EMAIL MARKETING
So the data we talked about earlier including your insights and customer lists is something that you need to put into use and make the most of email marketing. Beautifully designed email marketing (read: increase your repeat customers) templates should be used to send out messages to your customers. You can whip up and send email to promote an event, promotion, or announcement. And you can exactly target your messages to the customer group (loyal, casual, or lapsed) that you think would be the most engaged with it. What’s more, you can track what’s working and what’s not.
3. OPTIMIZING YOUR CUSTOMER FEEDBACK
When it comes to a business there is no end to improvement. But in order to successfully do so you need to know how you’re doing. There are things like Yelp, but what is actually needed is a more private forum. That’s where your Customer Feedback comes into play. Customers can leave you accolades or suggestions as feedback but you need to optimize that in the right way. Being a closed dialogue between you and your customer, the conversation feels more personal. You can respond with messages or discounts, so you can keep what’s working and turn any dissatisfied customers into loyal ones. Thereby pursuing your goal of retaining your customers.
4. USING LOYALTY PROGRAMS
Lastly, among the bundle of great ideas to increase your repeat customers, the loyalty programs are a boon. Rolling out a rewards program is a very simple way to do this. Offering a rewards program is a simple way to do this. In order to make the most out of these programs you can track and reward your customers based on the number of visits they’ve made to buy something from your store. You can select how often you want to reward your customers and how much they’ll get as a reward.
Maintaining and increasing your regular customers is not only an important factor to the success of your business but also something that helps you make strong relationships and a name for your business.