Taking care of your current customers is vital to business success. They form a good part of your consumer base which continues to frequent your brand beyond the first encounter. As a matter of fact, existing customers make up the lion’s share of the revenue of any business. In addition, it’s cheaper and more productive to keep their loyalty than exhaust resources acquiring new customers.
Fig. 1. Probability of selling to an existing customer vs. a new one
Selling to existing customers is similar to dating. People will be more comfortable to go out on a second date with someone they’re already familiar with rather than go on a blind date wherein chances of connection failure is higher.
If you don’t know how to take care of your current customers, you’ll have smaller chances of selling to new clients. Learn to serve existing ones first and improve customer loyalty with these tips.
1. Keep them satisfied.
To encourage current customers to continue interacting with your brand, you must provide an exceptional and satisfying customer experience. The goal is to exceed their expectations and keep them coming back for more. By offering this kind of experience consistently, you’ll build a more solid customer base loyal to your brand.
In line with meeting customer expectations is understanding what those expectations are. By launching strategic programs – i.e., mystery shopping, competitive analyses and social media monitoring – you can gain essential knowledge regarding your customers’ wants and needs from their own perspectives. They can also help you identify areas that need improvement and potential opportunities for growth.
A popular way of keeping customers satisfied with your service is by assuring them of your quality. By providing guarantees, you build longer lasting relationships with your customers as they trust you’ll deliver on your brand promises.
2. Personalize your interactions.
People are now looking for a more personalized content rather than a generic approach utilizing a one-size-fits-all marketing model. This era calls for customer-driven tactics that pamper individual customers to encourage them to interact with you again. Consumers who feel they’re important to your business will reward you with trust and brand loyalty.
Customer Relationship Management (CRM) tools can help you understand consumers more and develop a personalized marketing strategy in order to draw their attention.
3. Consider remarketing strategies.
Have you tried looking for a pair of pants on one website and then happen to see the same set promoted on a different site totally unrelated to the one you were just on? Chances are, these are remarketing tools doing their magic.
Remarketing helps you reconnect with customers who have previously visited your website or interacted with your mobile app. By using the information imprinted on the cookies during the time they visit your website, remarketing tools are able to display the same items and related products on partner sites across the internet. The constant reminder influences customers to take action on any pending purchase decisions they have after interacting with your platform.
Fig. 2. Conversion rates of remarketing
Remarketing is an incredibly powerful method for driving brand awareness and ultimately improving sales. Google remarketing and Facebook remarketing are the most popular tools for those who want to exponentially boost their online presence.
If you want to increase the chances of selling to current customers who just visited your platform, try these remarketing tools. If your business is more active on Facebook, it’s best to go with Facebook remarketing options. For online shopping platforms, Google remarketing is the way to go as it will allow you to expand your audience reach even further.
4. Polish upselling techniques.
Upselling is the method of enticing customers to purchase more expensive options, add-ons, or upgrades and have the ability to make a more profitable sale. This is only possible if you’re able to make customers realize the incredible value they’re getting just by adding a bit more to their original budget.
Fig. 3. Revenue from upselling
Identifying both the short-term and long-term needs of your current customers are vital in making an effective upsell. Part of any upselling technique is knowing more about the customer’s background. This includes their preferences, budget and needs, which are factors vital to interpreting which offer is most valuable to them.
The sales team must be properly trained to effectively upsell to customers. They should learn to have the power of suggestion without becoming overly eager to make a sale since one wrong move can completely dissolve a deal.
5. Reward their loyalty.
Loyalty programs are effective in encouraging customers to do business with your brand consistently in a short amount of time. Provided you have an opulent reward that will keep people interested and engaged with your company, you can effectively improve the number of repeat customers you serve.
Rewards programs can come in different forms. You can provide bonuses or exclusive discounts to patrons who frequent your business. The most popular is a points program, which encourages customers to collect points that they can exchange for something of value after reaching a milestone.
A rewards program is efficient not only in building customer loyalty but also in gathering useful information regarding spending habits, consumer trends, personal preferences and much more.
6. Keep on improving and innovating.
Customer trends are always evolving, and knowing how to go with the flow is vital to longevity in the industry. Keep track of user preferences to be able to quickly adapt to emerging trends and serve customers better. Present them with new products from time to time but make sure they are appropriate to the market, as well as adding value to your current and target customers.
Regularly asking for customer feedback is one of the best ways to determine what your current customers expect from your brand. This will allow you to identify areas of improvement and business strengths you can continue to nurture in order to maintain a good brand reputation.
There are many ways to keep selling to your existing customers. There are remarketing models you can use, upselling techniques to master and loyalty programs to implement – to name a few. It’s up to you how to manage these methods and use them to their full potentials. All these revolve around one thing alone: customer satisfaction. Satisfied customers will keep coming back for more, converting into loyal consumers.
The best way to identify customer needs and understand what they want from your brand is by seeing things from their perspective. Nothing’s more effective in gathering information on this than employing the expertise of a mystery shopping agency like SeeLevel HX. With our database of 792,000 mystery shoppers and customer experience authorities, we can help you strategize on how to keep selling more to your current customers. Contact us to schedule a free consultation.