5 Marketing Strategies You Can Use to Capitalize on Repeat Business

 

In most cases, it costs about 6 – 8 times as much for you to acquire new customers, than it would to sell to an existing one.

 

It’s exactly because of this that we at PRmediaonline.com take the time to nurture, and build a solid relationship with our existing customers.

 

The fact is, if you want more mileage from the efforts and resources that you spent in acquiring new customers, then there’s no better way to do it than to get as much repeat business from every single customer that you’ve acquired, right? Right.

 

So you might be wondering, how exactly do you do just that? In today’s age where the internet has made it so much easier for us to connect with our existing customers, there’s surely a better way to get as much repeat business from them.

 

True enough; the answer is a resounding “yes”! And that’s what we’ll talk about right now.

1) Include your customers in your social tribe

The benefits to be had in inviting your customers in your social tribe are astounding.

 

If you want an almost instant way of getting their feedback on a product that you’re thinking twice of producing, then your social tribe can help you with that.

 

If you’re looking for people to share your product without having to pay them anything, you’re social tribe is the best place for that as well.

 

The benefits are endless, really. Because the people in your tribe believe in you as a company and in the services that you offer, they’ll be more than willing to help spread the word about your company.

 

Related article: PRMediaOnline.com | Market Yourself on Social Networks

2) Add them in your email list

When your customers are in your email list, you can easily nurture your relationship with them.

 

You can send them regular emails sharing suggestions and solutions on a problem that they are currently facing. Or, you can flat out send encouraging messages to them.

 

This marketing tool is so versatile you can even use it to get referrals and grow your customer base even more.

Of course, one of the best ways you can use your email list is to continuously pitch your services to your existing customers. Since you’ve been growing your relationship with them through your regular emails, it makes it easier for them to purchase from you again.

 

Related article: Smallbusiness.chron.com | The Advantages of Email Marketing

3) Offer free trials on your existing products

Instead of sharing your new products to people who haven’t even tried your existing products to begin with, why not share it to those who have experienced your product already? I’m referring to your existing customers of course.

 

The idea is, if you have new products that you’d like to share to the market, you can contact your existing customers first then send them your free trial.

Considering that fact that, a) your existing customers ALREADY trust you, and b) the new product that you shared is on a free trial, it’s hard to imagine them not taking you up on the free trial AND not purchasing your product in the future if they’ll like it.

No matter where you look at it, it’s a win-win situation for both you and your existing customers. The chances are also good that they’ll help spread your product via word of mouth if they’ll REALLY like your new product.

 

Related article: Forbes.com | Should You Offer A Free Trial?

4) Provide phenomenal support to your existing customers

It goes without saying, that if you provide phenomenal support to your customers, they won’t think twice about buying from you again, AND sharing your product to their network.

 

Sadly, a lot of businesses focus TOO MUCH in acquiring new customers that they forget to make sure that their existing customers are happy.

As you can probably imagine, the latter is quite important, because if you can’t even take care of your existing customers, then there is not much longevity to your business. Your business is doomed to fail.

 

Related article: MarketingDonut.co.uk | Keeping customers — The Importance of Loyalty

5) Loyalty Programs

Loyalty programs are a goldmine when it comes to getting more orders from you existing customers. And because we’re doing this online, there’s SO MUCH you can do.

 

Instead of the traditional, “you get additional points if you buy our products”, you can do other things like, awarding points to people who sign-up on your email list, or, perhaps awarding those who constantly engage in your social media pages.

You can use these “triggers” to take your existing customers to the first step of your sales funnel until they end-up buying from you again.

 

Related article: PRMediaOnline.com | Getting the Most from a Client

Conclusion

 

While not many businesses put too much emphasis on it, capitalizing on repeat business is without a doubt an effective tool to growing your revenue. That said, if you are truly serious about growing your business, be sure to give your existing customers their much needed attention.

RECOMMENDED