Three Strategies for Repeat Business – [Infographic]
Driving customer loyalty is one of the most value-driven marketing campaigns for a business to employ. That’s because a 2% increase in customer retention can lower business costs by 10%, according to Fundera.
The challenge, then, is how to curate loyalty with existing customers.
Begin from the start of the customer journey, and determine the monetary value of the MQL in question. If you see the customer as potential repeat business, you’ll want to tailor your pitch to create more value. Do some extra homework on this prospect’s potential pain points, and determine how your product or service can solve this.
Next, and perhaps most important, is to follow-through with your promises. If your product or service does not drive the promised KPI’s, it’s likely the customer in question will not be back for a repeat purchase. This plays a part in the final invoice as well. Hidden fees may turn a prospect off if not discussed upfront. Consider detailing the service and all additional fees for your client before signing the final contract.
Additionally, consider the values of your business. Find clients who share the same beliefs. 87% of consumers will make their purchase decisions solely based on what a company advocates for. This is especially true if your prospect market consists of millennials and gen Zers.
Learn more about how to make your clients love you with this roadmap, courtesy of Fundera: