So many businesses around the US are always looking for ways to catch the attention of new customers, however customer retention should also be a business’s main focus rather than trying to get new customers.
Some business models are set up to where customer retention is a little easier as the main marketing strategy. The fact still remains, however, that customer retention as a focus drives in more revenue for a business. And here are some tips to get your business working towards customer loyalty by way of coupons and promotional discounts plus various other offers.
If you haven’t set up an email marketing campaign, then you’re missing out. You need to have various methods of collecting email addresses, and within a matter of a month or two, you’ll have a solid campaign rocking. You can tie in your email marketing campaign easily to social media, and of course you’re going to have the same offers available there, too. It’s a matter of letting people know about the offers you have available and making them appealing so that people want to take action.
For customers that have already done business with you, you know they like your brand and your products. After one purchase, however, they can easily forget about your brand and even your products, especially in this day and age. But if you keep branding yourselves and focusing on customer loyalty, those customers are going to provide you with new customers. There are many ways to get this done, and you can even start up referral programs. But I want to make one thing clear: Branding with your loyal customers is easily going to help you get new customers simply by word of mouth. So you can just imagine what you can do with a referral program when your customers also have the power of social media at their disposal.
Focusing on customer retention and loyalty is going to bring your business better conversion rates. Customer loyalty is much easier to track these days as you can tell based on the tools you have available to you.
Of course if you have too many sales or don’t know how to sue coupons and special offers wisely, then you’re going to have the customers not looking to do business with you outside of promotional periods. You do need to set everything up correctly, but again, the advantages are there to be had.
How Much To Discount
You also have to watch how much of a discount or special offer you provide to customers because it eats into your profits. If you dig in too deep, and you have customers expecting the same the next time without you being able to deliver, then you’re going to be looking for new customers. They will find another company to do business with.
Perhaps you can provide free shipping as the discount instead of taking money of the sales price. Percentage discounts are always popular because as everyone knows, 10 percent off is pretty much the tax that is paid. You can work out things any way you like, but you need to gear your business better towards customer retention.