Ever felt ripped off when you see discounts for new customers?
As a loyal customer you don’t get that warm and fuzzy feeling when you see these offers do you?
Discounting the price of your products or services as a marketing tactic can increase your sales if it is done correctly.
It can get your business new customers to grow your business. Especially if you have a product or service that is based on weekly or monthly purchases.
However if this is part of your pricing strategy it can complicate the relationship with your current customers.
There are many ways you can still attract new customers and at the same time improve customer loyalty.
The key is to make sure you have process in place so your current customers still feel appreciated.
In this article it is about products or services bought on a regular basis or subscription model.
Provide customers with discounts
It doesn’t have to be the same discount. Instead it could be a free month so loyal customers continue to buy but get a month’s worth of products or services free.
Or you could offer a small discount if they sign up for another year.
You do have to do your sums to see if it is worthwhile and will keep customers buying your products or services.
One of the simplest ways to keep customers buying your products or services is to understand what motivates them.
Never assume price is the most important factor. It could be your service delivery or helping them achieve their outcomes. Once you know the factors and have segmented your customers you can offer other things that reward their loyalty.
This means it could be how to information, bonus packs, special service delivery times.
Ultimately though it is for you to decide what you do with your business. It depends on you have a focused marketing strategy in place and detailed knowledge of your customers.
Over to you: how do you improve customer loyalty? Have you experienced being a loyal customer and not get the discounts offered to new customers?
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