Having a steady stream of repeat customers helps business growth and your bottom line.
It simplifies your marketing and saves time and money.
Talking to a group of small business owners recently many did not know how much of their sales come from repeat customers.
A couple did and no surprise their businesses are doing well and growing profitably.
Knowing information about repeat customers provides insights shows you into where to improve or continue what you are doing.
The reasons why they keep buying can be varied and it does depend on what you are offering.
For example one reason could be the service delivery. Your customers know that you always deliver every time. If this is a key outcome they want it allows you to focus time or money to maintain benefit.
If you have knowledge that they enjoy hearing about new products or services then you can provide them with samples before offering to new customers.
There are many benefits of knowing why your customers keep buying and here are a few:
Allows You To Fine Tune Marketing Tactics
If you do special offers, promotions etc, knowing which ones are successful helps keep your customers coming back. It takes out the guess work and allows you to fine tune and focus.
It also means you can quickly drop those that do not get results.
Helps Keep Price Out Of The Relationship
If you have repeat customers especially over a long time then price does become less of an issue.
This does not mean that you can raises your prices any time. It means that other areas of the buying decision have a higher importance.
Highlights Key Factors
Even if there is only a couple of reasons why they keep buying this information can be used when attracting new customers.
One point to note with this is to be aware that these factors build up over a longer time. This is because as they develop a relationship with your business and products or services you will discover more insights.
Customers who keep buying from you do have a closer relationship. This means it will be more difficult for competitors to be enticed them away.
So have a look at what is the split between new and repeat customers, their characteristics, what they buy, how often and why.
Then you can make sure all marketing activities are focused on ensuring they keep buying.
Looking for help with marketing strategies to keep them buying? To find out more simply Click Here