“We need to set higher new customer targets – we must get more new customers!”
Businesses can sometimes get obsessed with targeting new customers, spending their time and money trying to get new customers signing up and over the line – when in reality it’s a lot easier to sell to their existing customers.
Probability of selling to a new customer 5 – 20%
Probability of selling to an existing customer 60 – 70%
With lots of competition in today’s marketplace in every sector, any new customer signed up or purchasing from you should be seen as a celebration and give you all a great warm feeling. However having an existing customer doing the same should give you the same feeling as you are obviously doing something right, and keeping your existing customers happy and well looked after is arguably even more important.
But one target every business should have is to try and convert their consumers into regular loyal customers…
On average a loyal customer is worth ten times as much as their first purchase
Send them relevant personalized content
Show your customers you care by sending them relevant messages and content that you think will interest them. One way to annoy customers is by sending them messages and content that they will not be interested in, so segment your customer base into different groups so you can make sure you send them relevant content.
If a guy bought a new pair of basketball trainers then in a few weeks send him a link to your new basketball tops. Don’t send him a message with a link to your new range of women’s dresses.
The more relevant your message – the more response you will get.
And by sending them relevant messages with a personal touch of using their name here and there you will start to make them feel special. Start using words like ‘Exclusive’ ‘Special VIP’ in your messages to them and on your offers, and you will really start to make them feel wanted and special – see the perfect retail customer journey here.
There are several ways you can ensure that your customers will keep returning, making sure your service or product is of brilliant quality and value for money, having excellent customer service, giving your customers a personal service to make sure they feel special and valued are all great ways to turn your consumers into loyal customers.
But when it comes to your business and customers, make sure you don’t neglect your existing ones – you’ve done the hard work in getting them onboard in the first place – so don’t let them go!