23 July
It is a popular belief that the most challenging job for any business is retaining the old customers than acquiring new ones.
Are you up with a fresh marketing strategy for your business online? Great!
Is it directed towards engaging new customers in your business?
You must be thinking why am I being so rhetoric?
Here is the reason!
Do you know- 53% of the business sales come from existing clients a company has!
Acquiring new clients can cost you 4 to 10 times more than retaining the existing clients!
Halt here and improvise!
Do you wish to utilize your existing customer base to gear up sales with 5x speed?
And you don’t want to stake that!
The blog discusses how you can improve your sales from existing clients.
Let’s first know:
Why an Existing Customer Leaves?
No doubt an online business needs a consistent flow of new customers to upscale their brand and revise the revenue gear. But what matters the most is maintaining the relationship with those customers.
We often overlook the importance of connecting with existing customers. The existing customer base is an asset for any business online and someone on whom we can rely in time of crisis.
What if your business incus loss after the existing customer leaves?
What if losing customers consistently downgrade the reputation of your brand?
What if you lose on valuable referrals?
Yes! You may have to start from scratch if such a scenario occurs. It is indeed a nightmare!
Here are some of the reasons why a customer leave:
- The experience with the product failed to live up to the expectations
- They are unhappy with the price
- Your product no longer solves their problem
- Lack of personal connection
- Not engaging enough with the customers
- Find Competitors much better
The best way to solve these problems is – To talk!
Know what your customers desire and expect from your brand
Know where you are lacking in providing them a seamless shopping experience
Are you lacking in important insights?
Are you providing something they are least interested in?
Let’s discuss a case here:
Ruby runs an online apparel store and decides to target the market by understanding the customers. She is encountering constant loss and is perplexed as some of her products aren’t selling well.
She decides to analyze the old figures and data as to what patterns were most purchased and what customers loved about the dress the most.
She prepares to launch a survey regarding the occasions they love to wear those clothes on, the preferred price, etc. Ruby achieves success in gathering useful information based on the survey and decides to refine her branding strategy. She will now focus on the products that are high in demand and will generate more sales.
It is the rule of a business to cater to customer’s requirements. If your firm’s goals are different from the customer’s expectations, then the product is bound to fail.
If you will continue to launch aimless marketing campaigns and useless fancy emails, it will only affect the efficiency of your business online and eventually the reputation and SALES.
Failproof strategies to increase sales by 200% from existing Customers
Yes, you can believe your eyes!
Once a visitor becomes your potential customer, you have the right to engage with questions that would otherwise have been declared as intrusive questions.
The principal behind Macdonald’s “Do you want cheesy fries with that?” Can be applied to the B2B scenario easily.
Yes, you need to walk an extra mile to meet customer’s expectations.
If you‘ve done your homework then coming up with add-ons is pretty straight-forward.
Keep a tab over shifting customer Behavior!
Customer behavior is continuously evolving. With the world being impregnated with new technology then and now, the customers are bound to be bitten by curiosity.
Therefore, you need to be conscious about how the customer behavior curve is shifting and what it demands now!
If we take the above story of Ruby:
If the demand for the spring season outfits is soaring high and Ruby constantly markets about her freshly-designed woolen outfit and sends push notifications and emails to her potential clients regarding the same. What will happen?
Yes, it will elicit no response!
It is the customers who make or break a business. Therefore, keeping a tab over every moment online is critical to ensure you cater to their needs rightfully.
How you can do that?
By keeping a tab over every step your potential customer takes while browsing the website.
Click Nurture’s Customer Journey tool helps in:
- Identifying important touchpoints
- Help you gain important insight into an abandoned cart
- Identify gaps in user interaction
- Help you launch campaigns which customer will love to engage with
Launch Personalized Campaigns
Your existing customer base is there with you for a reason. They might like your way of interacting with them through various modes like social media or email.
Remind them of the latest products, news, services, discounts frequently with a touch they are familiar with the most.
Send personalized emails with a familiar brand logo.
With Click Nurture you can:
- Create relevant conversations based on individual behavior
- Track multiple email reads
- Drag and drop email builder; no coding required
- Create personalized emails with all-device optimized and responsive email templates
- Automated and smart responses help you create a benchmark in the user experience.
- Ensure every email gets read, with dynamic templates and responsive features
Furthermore, you can even trigger push notifications to reach maximum existing customers.
- Utilize the power of smart messaging to improve engagement
- Analyze response on every click with a dynamic analytical platform
- Create personalized content for maximum engagement
- Easy installation; no coding required
Emails and push notifications are a great way to engage with your existing customers and provoke a fresh interest in your products.
Create rich and valuable content that keeps your customers hooked for more.
Update the offerings
As I explained with an example of Ruby above, you need to change with the shift in customer’s tastes and behavior online.
Strip away the items that your customers don’t sell, you can help the customer choose from the products they are actually interested in. It will further help improve the user experience.
“If a customer desires a piece of cake, you won’t be offering him a cup of coffee, right?”
The same thing goes here. Focus on offering an optimal number of choices that will help the customers in making purchasing decisions easier.
You can gain useful insights into customer behavior through a live visitor tracking tool.
Click Nurture’s live Visitor tracking tool helps in:
- Gain useful insights on customer behavior
- Can be integrated with other tools
- Monitors incomplete transactions
- Help you monitor abandoned carts
- Help you provide accurate solutions
- Better response time and increases productivity
You can even launch surveys to know the throbbing pulse of your customer. As to what is on their mind and where they are more inclined to.
Upsell and Cross-Sell
Once the visitor has purchased a product from your website, he is no more a visitor. He has turned into a potential customer. Make a list of the things your clients are aware of or have expressed anxiety and urgency for.
Engage with your customers after you have answers to:
- What you’d charge for the solution?
- What value you will provide to them?
- What is the degree of urgency?
Cross-selling is encouraging the purchase of something in conjunction with the primary product.
Upselling is anything that will make the existing purchase more expensive, like update or premium.
You can notify the customers with the premium of the update through targeted emails, and push notifications.
Launch A Loyalty Program
By now you must have got a handover as to how you can understand your customers better.
A Loyalty program involves a physical card where the customers make a purchase. These points can be exchanged in the form of reward with the purchase of a product.
For example: After having a detailed insight into customer behavior using automated tools, Ruby launches a creative program according to which she charges $ 30 for the ones who are willing to become the member of the program. The fee-only needs to be paid once and the customers will receive benefits like:
- 50% off on birthdays and anniversaries
- 10% off on items above the 2000 range
- Next day delivery (with no delivery charges
- Tag 3 friends on Facebook and get a discount on next purchase
What do you think? Is she going to reap a bolstering profit?
Well, definitely, she is!
Therefore, you can engage existing customers by launching loyalty programs.
With All things Considered!
It is a wise strategy to focus on improving the sales stats from your existing assets i.e., your existing customers.
Providing personalized services can help you improve your relationship with existing customers. Remember if your customers are satisfied, they will acquire new customers for you as well!
Click Nurture envisions a world where businesses utilize the best of automation to amplify the business sales and keep pace with the customer’s expectations.
If you share any doubts or want to know how we can help you revolutionize your business, then contact us.
