The work of a true entrepreneur
It’s attracting a returning customer,
Just give them a reason to come back.
And earnings that you will never lack,
If you give him what regular customers prefer.
Research has found that it is 7 to 10 times cheaper to keep a customer than to get a new one. One of the highest costs of doing business is getting a potential customer to buy from you the first time.
The only way to offset that costly expense is to get your customers to buy from you again and again. That’s where your biggest profits are hiding. The more repeat customers you can win, the more long-term success you’ll enjoy. Repeat customers are the lifeblood of any business you find that stands the test of time.
The business that ignores the principles of attracting repeat customers puts themselves under the pressure (and expense) of finding new customers all the time. Not only is this stressful and expensive, but it reduces your chances of long-term success.
What is one of the smartest strategies business owners can do to ensure success? Develop strategies to attract repeat business “before” they spend a dime on your business. Otherwise, refusing to take that first step is like rolling the dice.
Here are some powerful tips to boost your repeat business:
1. Choose a product or service that encourages repeat business.
Choosing the right product or service will play a big part in determining how much repeat business you’ll get. One of the easiest ways to inspire repeat business is to choose a product or service with those qualities built in. For example, products that are disposable or used once and thrown away.
You can also offer a maintenance type service, where you help the consumer to keep or maintain what they already have. In a tight economy, people will spend more to preserve or maintain what they have than to buy a new one.
People are more loyal to a service than to a product. For example, you probably go to the same mechanic, hairdresser, beautician, doctor or dentist, etc. You probably also use the same gardener or pool man, right?
2. Offer Fanatical Extra Mile Service.
In today’s volatile business climate, it seems like everyone is downsizing and downsizing. And the rest is doing just enough to get ahead. In fact, one of the biggest challenges for consumers is making sure they get their money’s worth.
Consumer protection agencies like the Better Business Bureau have files full of consumers who didn’t get their money’s worth.
Therefore, one of the best ways to separate yourself from the crowd is to find ways to “overdeliver.” That’s the new normal today, if you want to stand out and inspire repeat business.
Do more for your customer than you expect. That’s one of the best ways I know of to encourage them to do business with you again. With more companies doing enough to survive, it’s a guaranteed way to be remembered.
3. Stay in touch with your customers.
This does not mean bombarding them with sales offers every day. It means sending them free information to improve what they’ve already bought from you.
Cost-saving tips, upcoming seminars, or even customer surveys are just a few examples. But don’t stop there, use your imagination. If I bought your product or service, what would I like?
All of this adds up to creating a climate that encourages customers to do business with you again. Show that you care, rather than just wanting to sell them something else.
As John Maxwell said, “People don’t care how much you know until they know how much you care.” Sharing “free” information that highlights your customer’s previous purchases is a great way to show your interest.
Those who refuse to follow this path are often forced to become “aggressive sellers” just to survive. It’s not a good look.
The key is to maintain an “ongoing program” to do things that build and inspire customer loyalty.
With today’s smart, informed, and often skeptical customers, that takes time, effort, and going the extra mile. Those are the highest pressure steps, quick money sellers will never do.
