Getting & Keeping Repeat Customers
Getting new customers into your shop is always the goal, and we know how much time you spend working to get them there. But your regulars are really the ones who bring in the most money. According to Bain & Company, your regulars spend about 67% more than first-time customers. These repeat customers are vital to the growth of your business as they are typically your biggest advocates. Over your businesses lifetime, those loyal customers are worth 10 times as much as their initial purchase. So you might be asking yourself how can I turn more first-time buyers into lifelong customers?
Here are some ways you can use increase customer engagement to bring in more repeat customers.
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Know Your Customers
There is no greater feeling than when you go to a coffee shop or restaurant and they know your name, what you like to order or they ask about your dog. So as an owner try to get to know your customers, make small talk, this will encourage customers to come to your shop again, because it feels comfortable and welcoming.
Keep Them Informed
There are lots of ways to inform your customers what's going on there are social-media posts, old school posters, an online calendar and more, but email newsletters are the best and most direct way to target specific customers with what's new. Once a customer has given you their email address you can encourage repeat business by sending loyalty based promotions or invite them to exclusive events. It's best to limit emails to 3-4 per month to make sure you don't come off as spammy because sending too many emails can be annoying to customers. That being said, email frequency is dependent on your industry, your brand, and your customers, so feel free to experiment with how many emails you send and the content of them).
The Customer is Always Right
Feedback is important, it helps you improve your service, and perfect your product and if you're getting it then that typically means the customer cares enough about returning to give you their thoughts. Taking this feedback and implementing it is a great way to show customers that you're listening to them, and you're striving to offer them the best experience, product, or service that you can. But be careful, blindly implementing feedback can cause your business to skew from your mission or compromise your product; so take all feedback with a grain of salt. Hear what they are saying and get to the bottom of their issue then resolve it. People will notice changes, and customers like to see that a business can adapt, and evolve. Plus, as a customer, it's always fun to see something new and a little different when you come back.
What better way to reward repeat customers than with a loyalty program. These programs are a great way to encourage customers to come back over and over again. They get a little something, and over the course of the customer lifetime, you get so much more than you end up giving. By using an automated loyalty program like Square, or FiveStar your customer doesn't have to do anything extra, they just show up and swipe their card, nobody wants to carry a punch card. One thing to remember though is that while a Loyalty program is a great incentive for a customer to come back, the main reason they are there is that they love your product, service, and experience. At this point, you've done all of the above-mentioned items to create new repeat customers, and a loyalty program is a great way to keep them coming back again and again.
All of the above are not only great ways to get new customers to come back but if used well and often they will keep those customers coming back and spreading the word of just how awesome your business is to their friends and everyone they know.