How to Turn Existing Customers Into Repeat Business
It’s 6 to 7 times more expensive to attract a new customer than retain an existing one. Investing a little time in creative marketing could bring them back and pay off big time for your small business.
Finding, attracting, and converting people into paying customers can be costly and time consuming. Thus, it would make sense that you’d want to keep a client once you earn their business. So, are you doing a good job of staying in contact with your customers?
It’s important to stay in touch with customers no matter the business model or industry. However, service-based business models are highly dependent on repeat business and it’s worth your time and money to focus on staying in touch and reengaging existing customers.
Here are four tips and techniques that may do the trick:
Send Out Regular Communication
Nothing replaces regular, relevant communication between you and your customers. While it can seem fruitless at times, this steady contact will help you retain a relationship, even when they don’t necessarily need the services you’re offering.
The thought of staying in touch with all of your past and current clients might seem overwhelming, but it doesn’t have to be. Thanks to tools like Smilebox, you can easily create compelling flyers and emails with simple and attractive templates. You can then use an email marketing solution like MailChimp to automate the rest of the process.
Connect on Social Media
Email is great, but it doesn’t always feel organic. In order to humanize your brand and increase exposure, you also need to be connected with customers on social media.
“Social media represents a low-cost way for companies to engage customers in two-way dialogue and develop deeper relationships,” digital marketing expert Nichole Kelly explains. “Relationships are a benefit that is difficult to achieve with other marketing channels. One often-overlooked opportunity is to use social media to strategically drive incremental revenue from existing customers.”
There are a couple of different ways you can leverage social media (when it comes to existing customers). The first is to offer customer service help via social channels. The second is to improve the customer experience by building up the brand and proving value.
Offer Coupons and/or Free Deals
Some customers are highly price sensitive and will need to be “sold” on doing business with you again. One method to reengage this group of customers is to offer enticing coupons and deals.
For example, you might send out a limited time offer to previous and existing customers for 25 percent off a particular product or service. Not only does this hopefully lead to a lift in sales, but it’s also an expression of goodwill and loyalty toward your clients.
Ask for Feedback
If you really want to know how you’re doing, who better to ask than you customers? Try asking for feedback and see what your customers say. You’d be surprised how willing many are to give you constructive advice and information that would otherwise go unspoken.
There are a number of ways to ask for feedback. One option is to send out surveys and questionnaires via email – though the response rate is typically very low. The better choice is to leverage social media where the process is a bit more personal.
Existing vs. New
Did you know that it’s 6 to 7 times more expensive to attract a new customer than retain an existing one? If you’re looking for a cost-effective way to grow revenue and maximize the resources you have, it would be wise to pursue your past customers with as much intensity (if not more) as new customers. It’s not easy, but there’s certainly a lot to be gained from an investment in this area.