Opinions expressed by entrepreneurs’ colleagues are their very own.
Acquiring latest customers has all the time been quite a challenge and is becoming costlier and time -consuming in the reality of modern competition. Meanwhile, the predominant profits for firms often come from repetitive purchases.
While about 75.5%floats in all industries in all industries, firms should strive for higher rates, because studies have shown that everlasting customers spend much more-often three times more-compared to one-time buyers.
In this text, I would like to share the key moments that must be taken into account when attempting to keep and develop the customer base.
1. Customer experience
Improvement of customer experience can turn one -off buyers into loyal patrons, which makes it one of the handiest long -term growth strategies. The increase in customer acquisition by 1%results in an increase in revenues by 3.3%, while a similar increase in customer retention reduces income increase by 7%.
Apple customer satisfaction and loyalty They were always growing. The brand’s attention to the details goes beyond the products – starting from the packaging and ending with shops and design. For example, they have a packaging designer who only works on the assessment of prototype boxes. Transforms the act of opening the Apple product into sensory sensations, strengthening brand involvement into design and quality.
Everything that Apple performs follows the philosophy that “meaningful is, and it is worth waiting to do it.” That is why they focus on selling experience, not only a product.
2. Personalization
Personalization consists of building stronger connections between clients and firms, which translates into increased commitment, loyalty and revenues. McKinsey Studies show that 71% of consumers want personalized interactions with brands, and firms that stand out in offering such experiences enjoy 40% of higher revenues than their competitors.
Special Spotify playback lists are a great example of how firms can use personal data to create latest engaging experiences. For example, their “mix” Playlist It combines listening habits of two users to create a unique mix that reflects the various tastes of the music of two close people.
This function has increased the indicators of the involvement and the average time spent in the mobile application. And it isn’t just about personalization itself – he also added an interactive social element to find music.
3. Loyalty programs
Effective loyalty programs are one other tool for increasing repetitive purchases and increasing sustainable growth. 81% of consumers They are more likely Return to brands offering loyal programs, and members spend 12-18% more a yr than those that are not members.
Amazon Prime Day This is an annual two -day purchasing event for Prime members, containing great discounts from the best brands and small firms, increasing billions of dollars of sales. This event only confirms the strength of limited time offers, in general with the status of “chosen one”.
According to the number 98% of the participants, it knew that it was the highest day before shopping, and just over half (53%) said that Prime Day was their The predominant reason for purchasing. As a result, independent sellers sold over 200 million items, mainly from small and medium -sized firms.
4. Promotions and discounts
Promotions and discounts not only attract latest customers, but also create a sense of urgency, encouraging repetitive shopping. According to Retailmenot80% of consumers more often make the first purchase from the latest brand, if it offers a discount and 68% is more willing to return after receiving a personalized offer.
Dunkin ‘Donuts uses data From the Perks program offers personalized promotions based on an individual purchase history, preferences, location and even time of day. This strategy pays off: internal data prove that fifty% of DD Perks members visit more often when they receive an adapted offer. For example, a customer who recurrently buys coffee in the morning can receive a discount on breakfast sandwiches. This level of personalization makes customers feel appreciated and understood, supporting deeper loyalty.
5. involvement after sales
Proactive interaction after sales with the client strengthens trust, increases satisfaction and significantly increases the likelihood of repeated purchases. Harvard Business Review found That firms that cooperate with clients after sales enjoy 20-40% higher customer retention rate, and 63% of consumers claim that they are more often buying from firms offering the following services.
6. Building community
Building a community around your brand promotes emotional connections, drives loyalty and stimulates repetitive shopping, making customers feel invaluable and involved. According to Sprout Social76% of consumers more often buy a brand with which they consider to be related, and 72% will make repetitive purchases if they actively participate in the brand’s community.
Lego actively develops its community through (*6*)LEGO ideas The platform in which fans can send their very own ideas for the next product and vote for the plants they like. By including UGC in the product development process, the brand not only involved recipients, but also transformed fans into loyal customers who need to buy products that helped to create.