You’ve made an all-out effort promoting your business and you now have a steady stream of new customers. Now you’re thinking about ways to get more value out of your existing customers. That means encouraging them to shop more often and spend more when they do. Ultimately, the best results are achieved by doing both.
Collect customer data and build a customer database (CRM) to enable ongoing communication with your customers. Balance your regular communications so they incorporate good value-add tips, advice and information with product promotions. This can be extended to create communities of like-minded people with exclusive ‘member only’ deals.
Consider a loyalty programme to attract customers to spend more and/or to spend more often.
Allow customers to sign up for newsletters and alerts. This enables customers to receive emails or text alerts about new products or special promotions relating to the things they are interested in.
Collect good quality customer contact data to provide a more personalised experience. For example, based on previous visits, you know what a customer has looked at and bought. Promote these types of products to them the next time they shop.
Consider complementary and parallel products your regular customers might be getting elsewhere. Think about offering these products or cross-promoting with another business.
Incorporate up-sell and cross-sell as a standard part of the shopping process. Often that’s as simple as promoting accessories and complementary products based on what the customer has selected. Other examples include “Other customers who purchased this product also purchased…” or making recommendations for alternative products “You may also like…”
A Buy Now Pay Later (BNPL) option is a must in many sectors if you are dealing with a younger target market. This helps customers justify their decision to spend a little more and eliminates barriers to purchase.
Incorporate Black Friday, Cyber Monday and Singles Day in your marketing calendars. Build excitement and anticipation about these events with your customers.