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5 Steps To Maximize Return Business
  • 24 May 2016
  • Eric Michaels

5 Steps To Maximize Return Business

Nearly every business expert agrees that repeat customers are the lifeline of a growing company. If someone uses your products and comes back a second time, there is a level of familiarity there, as well as the opportunity for a long-term business relationship. The trick is to get more repeat customers and continue to build your relationship. Here are five steps to maximize the amount of return business your company sees:

1. Get initial feedback

Getting a new customer is an achievement worth celebrating. Whether your website, marketing efforts, or flashy storefront drew that person to your company, you can learn a lot from their feedback. For instance, if you are offering design services or spa treatments, try following up with a phone call or e-mail. Quick online surveys are also a great way to collect insightful feedback. Have a plan in place to collect and organize this data from the start so it is not wasted.

2. Reward return customers

Even when customers have a great first experience, they may not be planning to come back anytime soon. Consider investing in a way to make them change their minds. There are several ways to go about achieving a second sale. You could offer a minor discount (10 or 15 percent off) on goods you are trying to move, or you could offer a small bonus gift to customers who purchase a second item from your company. Return business is valuable and more likely to prompt referrals, so this investment is usually money well spent.

3. Create e-mail lists

Increasing your customers' familiarity with your business is a perfect way to gain future sales, and an e-mail list can help you keep tabs on your clientele. Periodic—as in, not more than once a week—e-mails that announce developments in your company are likely to be welcomed by anyone who is impressed by your brand. Sweeten the pie by offering exclusive sale codes through your e-mail list. When customers know they could get an excellent deal by staying on the list, they are much less likely to unsubscribe, so make staying worth their while.

4. Set up a loyalty program

A loyalty or rewards program is one of the most effective ways to nail down return business. Regularly bought products, such as food and household necessities, tend to do better when they are attached to a rewards program. And because consumers tend to buy these goods and services on a regular basis, you might as well aim to be the one providing them. As with any marketing investment, make sure to calculate what the program will cost and its projected return.

5. Exceed expectations

One of the best ways to guarantee repeat business is by constantly exceeding expectations. Consumers have a visceral reaction when a product seems better than it did the previous time they purchased it. Attention to detail and the quality of the services you provide will guarantee that your company actually does get better every time. Once you find a way to maintain this high standard of business, you will find your customers selling your products for you. These advocates will help spread the word over social media, which will not only come off as authentic, but will help sell your goods.

Maximizing return business is often the key difference between a company that is struggling to stay afloat and one that is growing its business every month. Use these tips to take action and make sure that customers have a reason to come back to your brand.

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