ANOTHER WORD FOR REPEATING CUSTOMERS HOW TO
Read: How to build an email list for your online store #5 Gain a better understanding of your target market Even better yet, get them to sign up to an exclusive list where they can be the first to find out about new products from your business. Reaching out to them can be as easy as sending a newsletter of your new products. Cross-selling works better with existing customers because a relationship has already been established so they will be more open to new products by your business. #4 Help with product expansionĭo you plan on introducing new products? According to Kotler, a great way to grow your business is to find more products that can be sold to the same customers. So, get a customer to stay longer with you and they will tend to spend more. studied the online shopping habits of 522 users and found that in the apparel category, a given shopper’s fifth purchase was 40 percent larger than his or her first purchase, and the 10th purchase was a whopping 80 percent larger in value than his or her first one. Having repeat customers will increase your business profits because they buy from you more times and they spend more compared to customers who only have bought once. Not only will they help promote your business, but they will also back you up when people say negative things about your business.Īs mentioned earlier, they don’t need much convincing to purchase from you a second time, a third time, and so on. If you really care for your existing customers, you can gain another level of advocacy.
ANOTHER WORD FOR REPEATING CUSTOMERS FREE
It’s like free marketing! And It is very effective because they are hearing it from someone they trust. Repeat customers are happy customers and happy customers will tell 4 to 6 other people about their experience, without much effort from your end. The most effective kind of marketing is word of mouth. This is because once a customer has bought from you, that person requires a lot less convincing to come back to your store and shop again. Putting some marketing focus on existing customers will lead to a better return on marketing investment. It can get up to 10 times more expensive to bring in new customers. This is especially true in the crowded online business arena where ad impressions, clicks and conversions always seem to be increasing in cost. It’s cheaper to get past customers to purchase again than it is to find new customers. In this post, we will look at the 5 reasons why they are. Repeat customers are the key to a profitable business. Yes, you get great exposure for your products but the chance of them buying from you again is very small due to the highly competitive environment. A great example is putting all their eggs in an online marketplace.
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Many Ecommerce Entrepreneurs are still not convinced of the value of a repeat customer and pour most of their resources on strategies that will bring in new customers but not get them back to purchase again. And if that person comes back over and over again to buy from you, then he/she is a repeat customer. When this customer comes back and makes a purchase from you a second time, he/she is a returning customer.
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A person who buys from you once is a customer.