Do you know about 75% of the daily business sales are done by the repeat customers?
Yes, that’s true because according to a study made by the author of “The Human Brand” on “Zappos”, (one of the biggest online retailers today), 75% of its daily sales are mainly done through the repeat customers.
In fact, your existing and previous customers can be your “salespersons” contributing significantly to the growth of your business. This method, in simple words, is referred to as the “word of mouth” marketing.
In order to get the most from the existing customers, it is necessary to understand the role and contribution of existing customers to your business as repeat customers.
Repeat customers are like brand ambassadors for your business and therefore, offering them the quality products or services will enhance the likelihood of their repeated visits to your physical store.
Not just that once your regular customers are satisfied with your services or business products, you can be sure to get more new customers because of their strong recommendations for your products or services.
Now, you may not require a sales team to generate revenues rather you may just have to strengthen your customer base that could maximize repeat purchases.
Building Repeat customer base means increasing your customers’ “repeat purchases”. The customers are likely to repeat their purchases because of the following reasons:
- High quality of the products/services.
Quality speaks volumes once a product is used by customers. You don’t have to do much if you convince the customers with the utility of your products or services based on their functionality and quality.
All you need to do is to just educate your customers about your products/services.
Customers’ satisfaction is the key for repeat purchases.
- Convenience to visit the physical store or shop.
This certainly means that if the store is in the vicinity of customers, they are likely to visit the store easily and build a relationship on a long term basis.
Customers’ convenience is important for repeat purchases.
- Good, cooperative behavior and soft skills of the business owners and employees help in building long term relationship. This is because everyone has a tendency to visit such places where they are respected or given nice treatment. This motivates the customers for frequent visits to your shop.
- Certain discounts, offers, gifts or coupons on the purchase of a set of products are crucial in increasing the customer “repeat purchase” rate.
This is so because today every customer is very smart and wants to buy the product at discounted rate, thereby, making a significant savings in the long run.
It’s less expensive to bring existing customers back to your store as compared to attracting the new ones because existing customers are more likely to become satisfied and loyal to your business/ services easily
It should also be understood that getting the new customers’ attention often depends on the timing besides multiple marketing methods.
If the customers are preoccupied with other activities, they may not be able to pay attention to the television/radio ads or poster ads or any other form of advertising.
However, if you happen to be a small business owner, affordable advertising methods can be useful in making customers initially.
Once you have enough customers, you can establish a good relationship with them. You can also rely on them for word of mouth marketing.
In order to get more repeat customers, the following methods are certainly useful.
Building a community of customers:
Social media can be used for creating a group of customers for constant communication. The platform can then be used for
- Getting the feedback of the customers on different products/services.
Feedback helps improve the quality of business products/services which goes a long way in improving the customer base over a longer period of time.
- Keeping the customers updated with the upcoming business products or services.
Regular business updates keep your customers connected with your business, thereby, improving your communication with the customers on a sustained basis over a period of time.
Offering incentives to your repeat customers:
- The regular customers must be seen as valuable assets for your business. Therefore, all efforts should be made to track repeat customers for better business prospects.
In order to increase the rate of repeats by your customers, offering them incentives can be a great way out.
Incentives can be in the form of coupons, loyalty discounts, privilege memberships etc offering attractive offers or discounts to the repeat customers.
Building personal relationship:
Building good reputation and relationship with the customers is essential to enhance the rate of repeat purchases.
Certain tips can certainly help:
- Say hello and start the talk by calling your customers’ name.
Using the customer’s name while conversing simply makes your customers feel connected more easily.
Customers enjoy polite and frank conversation that is meant to guide them just like their own relatives or friends.
This helps build a good relationship and reputation with your customers over a longer period of time.
So, remember your customers name and talk to them politely.
This can help you increase the number of repeat customers easily and successfully.
- Make the most enthusiastic employee the in-charge of talking to customers:
Making a presentable, well behaved and a highly enthusiastic person responsible to talk to the customers will ensure greater customers’ satisfaction.
Customers always expect right guidance by a person who could talk politely and guide them enthusiastically while purchasing the products.
This will strengthen the confidence and sentiment of customers to visit your shop again and again for repeat purchases.
It’s time you get ready to use the right methods to convert the old and existing customers into repeat customers because it is not just easier but also inexpensive to motivate them for repeat purchases.
So, be smart to realize the great potential of repeat customers for greater business revenues. This is the way to your success!
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