How to keep your customers coming back!
It’s Chima here.
The only thing better than customers, are repeat customers!
They are the ultimate goal for any business and for that reason they can be difficult to acquire, but don’t worry Prestige Social is here to help, yet again 😉
Today i’m going to run over a few really simple ways to keep your customers coming back to YOU.
Loyalty Programs are a great way to bring #value to your customers and to give them more of a reason to stick around with your brand!
If you’re a regular coffee drinker you’ve probably used a loyalty card at your local café that entitles you to a free coffee after X amount is bought. This is an example of a loyalty program on a micro-level, but the same principles can be used and scaled to give the same value for businesses of all sizes. Frequent flier points are an example of loyalty programs used at scale, and are so successful because they reward you for spending money with their brand, while also increasing the cost of switching brands – what we call a barrier to exit!
Now it’s time for you to get creative, tailor a loyalty program for your business and develop long lasting relationships with your customers, increase their LTV (lifetime value) and decrease the chance of them switching to your competitors.
Now this part is generally suited to service-based businesses, but there are some options for product sellers as well. You may have noticed that subscription pricing models are taking over the world of service-based ecommerce e.g Netflix, Spotify, Shopify, Apple Music, Youtube Premium, Amazon Prime and the list goes on!
What does this mean for you? It means that consumers and businesses are now more comfortable than ever to go into subscription-based contracts compared to previous years.
Subscription pricing models are a great way to increase the life of your average customer because of the guaranteed sales for the duration of your contract, while also improving your sales predictability during slower months where non-subscription based customers might not purchase your services/products (now that’s a win-win).
Subscriptions work well with products that are frequent purchases such as groceries, newspapers, magazines and so on. If you sell products that are of higher value or less frequently purchased you’ll have to get creative to make sure your customers stick around.
Try things such as subscription email marketing lists to provide value to your customers even when they aren’t purchasing! This will improve brand trust, and if done correctly will generate sales as well. ‘But what would I write about?’ talk about your products, different ways to use them, your brand’s story and anything that will provide value to your customers while being genuine to your brand!
If you currently have customers, or are about to launch your business idea, have a thing about how you can keep them for longer!
Let us know if you think of any unique ways or ideas, we’d love to hear.