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Are You Doing Enough To Boost Repeat Purchases?

It can be 25 times more expensive for a company to acquire a new customer than to retain an existing one. As a bonus, retaining a customer can also require less time and effort.

In order for this to happen, an effective strategy needs to be in place. One that regularly rewards your current customers.

We’re going to take a look at five of the best sure-fire ways to encourage repeat business so that your company has loyal customers.

 

1. Implement a loyalty program

If you want the same customers to keep coming back, you need to do the basics. And the basics means giving them exactly what they want.

One of the ways to do this is through a loyalty program. However, what’s key here is that your customers’ tastes, needs and preferences are evolving, and they now want to see a bit of innovation from your loyalty program.

For example, 55% of millennials (who will likely make up the core of your online demographic) want your loyalty program to surprise them as they move through the customer journey. This means thinking outside the usual “points” box and experimenting with the likes of interactive games.

Points are still effective, but as the same report suggests, customers are now becoming frustrated with how long it takes to redeem them.

Moreover, 32% of customers also say that the security of their personal information is a worry when signing up to a loyalty program. These are all things to consider, but the main point is that loyalty programs do work and you need to implement one.

 

2. Offer a personalised experience

It’s 2018 and Artificial Intelligence (AI) is no longer the preserve of science fiction. While your customers might not know what AI actually is or does, they see its effects all the time. AI is able to crunch vast amounts of customer data so that it can personalize the customer experience – and this is exactly what your customers want.

A personalized experience means you tailor everything– from content to recommendations to emails – to a specific customer. Using machine learning (a form of AI), small businesses cut through the noise and give the customer more of what they want and a lot less of what they don’t. This can boost conversions, sales and retention.

 

3. Make the right first impressions

First impressions are absolutely fundamental to customer retention. If this “relationship” gets off to the wrong start, they won’t come back.

Creating a strong first impression means covering every single aspect of the customer journey, from a professional-looking website to a solid landing page; from a personalized ‘thank you’ email to providing a clear point of contact.

It also means making sure that your customers are kept informed with every step in the delivery process. If there is a delay, make sure you let them know as soon as possible.

Cover other areas, too. Improve your customer service with a live chat feature. Add a POS card reader to your website so that your customers can see that you offer a seamless and flexible payment system. Cover everything so that your first impression is powerful and lasting.

Customer service can increase loyalty and positive buying behaviour by around 10%.

The Institute of Customer Service

4. Build strong relationships via social media

An easy way to hold onto customers is by building strong, long-lasting relationships via social media.

This means using social media to keep them in the loop, engage them and educate them. Offer lots of value in the form of educational and informative content. Cultivate feedback by asking them questions directly. When the time is right, entertain them too with video content and podcasts.

The key to building relationships is to not ask “what are we getting out of this?” Instead, you need to focus on connecting with them in the same way you’d connect with a friend. Don’t expect anything out of this.

Studies have shown that millennials don’t want to be sold to but do want to be immersed in a proper marketing campaign. Relationship building via content marketing can be the key to encouraging repeat business. More than anything, it keeps your brand at the forefront of their minds.

 

5. Stay in touch

Lastly, while you don’t want to appear intrusive and salesy, it’s important that you stay in touch with your customers.

You can do this via push notifications and alerts, and you can also do it via a well-planned email marketing campaign.

The aim is to keep your customers in the loop about your business while raising awareness of special offers, discounts and promotions.

If you do decide to use email marketing, make sure that you segment your list so that you tailor content that hits the spot with the right customers. Make your emails personable, friendly, and don’t send them out too often.

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Michelle Deery writes copy for Heroic Search, a link building agency based in Tulsa. Her work has been seen in publications such as Entrepreneur.com. Her content offers businesses solutions to their marketing challenges.

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