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It is no secret that working to retain your existing customer base delivers far greater rates of success than attempting to attract new clients. As a small business owner, statistically around 80% of sales will come from just 20% of the existing customer base. Despite this, the majority of business promotions are aimed at attracting new customers and exclude the people who have purchased from them before.
There are a number of ways in which you can encourage your customers to make repeat purchases. If you are having little success at attracting new customers, consider switching your marketing focus towards previous clients. Let them know that you still exist by sending them a regular newsletter – but make sure you provide interesting content or share useful resources instead of just delivering a weekly sales pitch. Try to keep your brand at the front of their mind.
Consider a loyalty scheme to reward your best customers. Even if it is just a small discount, it will give them less incentive to try a competitor. Sending Christmas cards to your customers is always a nice gesture too, especially if you include a price reduction!
Try to have greater interaction with your existing customers. Social networking sites such as Twitter and Facebook have made it easier than ever for small businesses to reach out to clients and connect with them on a personal level. Encourage feedback from customers as this will make them feel valued and hopefully provide you with an opportunity to learn from their input.
WinWeb BusinessServices provide a number of marketing services for small businesses ā find out more by visiting our website.