A consumer survey conducted by nVision Research found that 80% of respondents will only repurchase products they like while 70% of consumers make a repeat purchase on brands they like says Saivian. So, what makes your customers keep on coming back for more? Here are five tips to help you find out:
5 Tips to Keep Customers Coming Back To Your Business
Business owners commonly complain that they lose customers because their competitors have better deals. However, this happens not just because you have more competitive prices but also of the quality of your service and product, as well as the whole customer buying experience.
Tip 1: Up-sell or Cross-sell Your Products
Once a consumer buys from you, it’s your duty to make sure that they’ll come back and not ever look at other retailers who might offer the same products for a lower price. The easiest way to do this is to upsell or cross-sell (and not just by adding them on their bill).
Upselling and cross-selling are actually two different things:
Upselling is an “upgrade” but not a replacement. In other words, it’s offering a more expensive product for the same group of consumers without removing or replacing their initial purchase.
Cross-selling is selling related products to the same target market. This may include offering accessories, complementary items and even downgrading to lower-priced options.
For example, if a consumer buys a digital video recorder (DVR), you might upsell them with cable boxes or better DVR models. Saivian explains if they buy sneakers, you might cross-sell their athletic socks and other apparel items.
Tip 2: Keep Your Promotions Relevant to What You Sell
Successful promotion is one that offers your target market something meaningful and relevant to what you sell. Marketing experts say the promotion should offer a “reason to buy.”
This means that when you plan promotions; make sure that it is linked with the top buying seasons of your products (the seasons when there is a need for them), times of high demand, or other influences such as political events, natural disasters, and even social media.
Tip 3: Don’t Keep Promotions Secret
Marketing experts say you should never keep your promotions a secret. This is because if other retailers find out about them, they might use the information against you by copying what you did and offering it to their customers for a lower price.
When you design your promotions, make sure to create an exclusive offer just for your business to reward returning consumers or loyal customers.
Tip 4: Make Your Product Easily Available
People are mostly motivated by convenience and ease of access. This is why if you’re selling products that are common in demand (such as appliances), it’s best to place them where they’re most visible to your target markets.
For products that are less common, you can distribute them through special offers or by offering them as a bonus with other purchases says Saivian. Make sure that the offer is simple and easy for consumers to claim at any time of day or night.
Tip 5: Keep Your Promo Materials Current
Promos are mostly designed to get your target market to buy immediately. However, this is not to say that they are one-time offers only. Keep in mind that after the promo period ends, you may still be able to honor it depending on what you’ve put in place for consumer protections.
When designing your offer materials, make sure that they are consistent with the brand image of your company. Also, take into consideration that you may need to update them from time to time because of changing market conditions or consumer preferences.
Here are some FAQs recently asked by consumers during the Manila Promo Festival – The BIGGEST PROMO FESTIVAL in the Philippines!
Can I avail of the promo even though I’m not residing in Manila?
No, promos are discounted offers available only to consumers residing or having a business address within Metro Manila.
Can I avail of one promo per day/per transaction?
All promos are one-time offers per consumer, per day. However, certain promos may be availed by the same person more than once as long as it falls within the validity of the promo period.
Can I avail of different promos in one transaction?
Yes, you can single transaction as long as they fall within the validity period. Just make sure that you will pay for all items in full before proceeding to checkout.
What if I missed a promo?
Promos are available on a first-come, first-serve basis. If your chosen promo has already been claimed by combining several discounts and deals during a single transaction.
As you can see from above, there are many ways to keep customers coming back to your business says Saivian. These tips will definitely help you reach your financial goals. Be sure to follow The Burke Media Company on Facebook and Twitter for the latest marketing & advertising advice.