While making a one-off sale can be considered a success, having a customer base that is loyal and makes multiple purchases is the ideal you should be aiming for. As such, your marketing strategies should be focused on attracting the category of customers who will be most likely to form a continuous relationship with your business and provide a boost to your overall revenue.
Buyer Personas
Understanding your buyers is the key to finding out how to retain them. Creating buyer personas – fictional but representative profiles of your ideal buyer ‘type’ – will help identify the type of customer who will most likely return to make future purchases.
Personalised Communication
Personalising communication is another way to make customers feel valued, and communication channels such as social media and email are great for forming more direct and personal relationships with your individual customers. In return, loyal customers can become advocates for your brand, potentially referring other prospects to your business.
Building Your Brand Authority
Another way to attract and retain customers is to become a trusted name in the market. This can be achieved through excellent customer service, offers of enticement such as rewards or discounts, and valuable content that builds awareness of your brand. Providing educational content through blogs and case studies will build your reputation as a reliable authority in the field, and customers will be more likely to continue using your services.
Saying Thank You!
A simple point but all too often overlooked: letting your customers know that you appreciate their support will help create a positive impression of your business, making them more likely to remain customers.Getting More Customers Through Email Marketing
Forming A Customer Retention Plan
Once you’ve established which existing customers and prospects you want to target for retention and the ways you plan on doing so, it is essential to form an overall marketing strategy to achieve this. Metrics such as Customer Acquisition Costs (how much is spent acquiring new customers) and Customer Lifetime Value (how much profit is made from each customer) need to be factored into your strategy and analysed through data analysis. Acquiring this information will help you calculate the extent of the financial outlay needed to secure valuable customers for a better ROI.
Building A Loyal Customer Base Through Inbound Marketing
Having a customer base that engages in repeat purchasing will help you boost your overall revenue and improve your reputation across the board. Forming strategies to find out which customers are most likely to return will help you establish and implement methods for attracting and retaining them.
Inbound marketing helps draw customers to your business through carefully targeted content designed to appeal to them. As such, it is recommended that you talk to a marketing agency that can create and implement an effective strategy for your business. If you’d like to find out more about our approach at JDR, and how we help businesses make more money from their retention strategies, please call 01332 343 281.
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