As an entrepreneur, your main aim is to make a profit. In order to make a profit, you need to get customers who will buy your products and services. To do so, you create marketing campaigns that convince your target audience that this is the thing they want and need. However, sometimes it is not enough to just get a customer to buy your product once.
The process of turning a random visitor to your website into a lifelong customer is relatively simple, but it requires time and effort. You need to nurture your relationship with them and offer them additional value. Apart from that, you may want to employ certain strategies, upselling and cross-selling being the most popular ones.
Generating more revenue by increasing the number of purchases your customers make is not an easy feat. Nevertheless, it is definitely a viable method of growing your business. So, how do you develop a long-lasting relationship with your target audience and encourage them to buy more of your products and services? Read on to find out.
Here is one simple way to get more sales: whenever a customer comes back and makes another purchase, offer them a special discount, for example, one tied to their email address. If the deal is of any value, they will be more than happy to take advantage of it, and that means more revenue for you.
You may also want to consider offering a discount code to your existing customers if they refer you to their friends – click here to see what other e-commerce merchants are doing in this regard. Such initiatives give you more exposure but, more importantly, increase customer loyalty thanks to the value they expect to get when buying from you.
Everyone likes freebies, no matter whether they are some stickers or an extra pack of batteries. Giving away a freebie can considerably impact sales, as long as it is of some value to your customer. For example, if they buy a new camera, you can give them a shoulder strap or an extra battery. If they buy a printer, you can offer them some paper.
A free gift with every purchase is a marketing strategy that has been used successfully by many companies, and it is not going anywhere soon. Apart from small gifts, you can also offer free shipping or, if your postage costs are relatively low, or a hassle-free returns policy. These two are some of the most important factors people consider when choosing where to shop in the era of e-commerce.
Many companies have found success with their customer engagement strategies. If you have a Facebook page, follow and interact with your customers and create an engaging community that encourages people to share your content, and you will notice that you get more likes and shares. Of course, it does not stop there. You should also ask them for feedback, be available to answer their questions, and, in turn, get more people to like your page.
Although this may not be directly tied to increasing sales, establishing your business as the go-to company in your niche will make your customers come back and buy from you again. This, combined with well-thought-out cross-sell and upsell strategies, will ensure that you see healthy revenue growth in the future.
If your business is booming and you have a relatively large target audience, you may want to consider creating additional product lines. For example, if you run an e-commerce store that sells mobile phone cases, you may want to create a new line of phone accessories with improved designs. The customers happy with your previous products will definitely be interested in your new ones.
This is a part of upselling, which is a strategy aimed at encouraging customers to buy more expensive products or services. In the case of phone accessories, you can encourage your customers to grab the better product, which is likely to be priced higher. Or, maybe link them to the latest line when they are browsing through headphones or chargers, reminding them that they have the option to get cutting-edge products, too.
You can also encourage your customers to buy additional products by offering them complimentary or related products. Many e-commerce stores offer bundles, where they sell their products together at a discounted price. This way, your customer actually buys more, tricked into thinking they are getting something extra for free.
Cross-selling is a common tactic that many entrepreneurs from many different industries employ. When your customers are shopping for a new pair of shoes, a nice jacket, or a smaller item, you can show them a bag that they may like. Of course, the chances are that they will buy it and come back to shop with you again if your propositions are on point.
If you want more customers, you need to get them to buy more often. In order to do that, you need to build a relationship with them and nurture it over time. Be friendly, answer questions and offer them deals, but also remember to create additional product lines and convince your existing customers to refer you to their friends. The more you give, the more likely you are to see sales moving in the right direction.
It may depend on the niche you are targeting and the price range you operate in, but the most important thing is to stay persistent. There is a reason why some companies are still making a profit after so many years – and that is because they keep going and growing. Good luck!