You need a customer retention method regardless of your business type. Do you have one and if not why don’t you?
Anyone that has been in business for awhile will tell you it is much cheaper and easier to sell additional product to existing customers than it is to acquire new ones.
It doesn’t matter if you are selling products at auctions, products from your website, products at the local swap meet or even if you are in a network marketing company where you are building a downline. You need some kind of plan in place to keep your buying customers happy, keep your name in front of them through regular communication and as an open channel for future recommendations or sales.
By gathering the names and email addresses of every customer that buys online is important so you can send them a personalized thank you. You might decide to send an unannounced bonus to them 2-3 days after their purchase so the perceived value of doing business with you is raised. This might encourage them to give your business a good recommendation if one of their friends needs what you sell. Ask them to subscribe to your company newsletter where you periodically offer tips, discounts for existing subscribers/customers or other useful information.
Network marketers that communicate with their existing members can motivate them, give them tips on promoting the business, find out whether someone is unhappy because you’ve shown you are available and can be contacted. By spending time educating and motivating your existing group, you are teaching them how to be better sponsors and that could help either maintain your group or make it even larger.
Business owners that sell digital, physical products or services can offer tips on how to get the most out of the product or service, advance notices of upcoming promotions or discounts on the next purchase.
By offering useful information about your business, your products or services and occasionally giving discounts or freebies, you will keep your customers happy, informed and thinking of your business when they next need what you’re selling.
Customer retention does require time and effort but not nearly as much as customer acquisition. There are many different ways you can keep your name in front of your customers and keep them interested in doing business with you.
It is your responsibility to determine what works best for your business, your style and your customer base so you can keep your most valuable asset coming back for more.
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