Repeat sales & recurring revenue - your lifeblood... #81
- Adrian Dionisio - business737 owner
- Oct 30, 2022
- 4 min read
Updated: Apr 30, 2024
You spend all that time and effort to attract the customer, educate them about what you do, persuade them you are the best choice and get them to spend their hard earned money with you. Great, you've made the sale. Is it over now? It's just started!
Repeat custom and recurring revenue is the name of the game. It's easier to keep a current customer than attract a new one BUT you must focus on keeping that customer. Never ever forget this. So what is the best way to keep your customers and generate recurring revenues? Here are 6 ways to do so
Understand your customer
Give them more
Make sure they are happy
Show gratitude
Bundle
Increase trust
1. Understand your customer
It pays off to really understand your customer. At the most basic level your business is providing a solution to their problem. When you better understand their problems, needs, wants and desires you can provide better solutions. It is a win for you customer and a win for you when they continue to spend with your business. Win win is the name of the game.
Talk to customers, research, find out what they want and see what competitors are doing in the market. Keep on top of it all and it will pay off. Customers will be loyal to you and keep returning. Show interest in them, listen to feedback, complaints, suggestions and remember that your customer is your everything. Know them inside out and keep digging deeper.
2. Give them more
As you learn more and more about your customer you can offer them more. Give them the things they want and need. Create and offer more value for your customer. There are so many ways to do this but it all starts with understanding your customer.
When you give them more value you can rest assured they will not even consider the competition. Why would they even take a chance when you offer everything they want plus much more. Never take your customer for granted, instead always think how can you do better for them. What does around comes around so what will happen when you are striving to do better for them? It will come right back at you!
3. Make sure they are happy
If your customer has a great experience doing business with you they will be happy. When they are happy they will return. Deliver what is promised and surprise your customer with extra care and support. Always aim to elevate their experience because the customer will always know and remember how they were treated. Go above and beyond.
The more you can provide a unique valuable experience for your customer, the better for your business. Your business will grow when you pay close attention to your customers and their needs. If you make people happy to do business with you, they will want to do business with you regularly. A memorable and pleasant experience will generate customer loyalty, appreciation and gratitude.
4. Show gratitude
We can never underestimate the impact of genuine warmth and appreciation for our customers. Yes some can be difficult and dealing with others can be stressful but it is our customers who either make or break our business. With this in mind we must always be thankful and grateful for their custom.
Being warm and engaging with your clients can go a long way. Your interactions with the customer can enhance notions of trust, reliability, professionalism. It will bring peace of mind and security to any purchase. A positive mindset with gratitude and courtesy can add real value to any business.
Genuine person to person interaction, rapport and authenticity can be a win win situation for all concerned. In an age where it is significantly harder to create an advantage over your competitors these factors are important..
Clients are more likely to return when they feel they have got great value and have been appreciated and treated well. Happy customers turn into repeat customers. Gratitude will help improve customer retention. This has been proved over and over again by some of the biggest brands and companies in the world.
5. Bundle
Bundling is the process of grouping together certain products to create packages. Any business can package several of their products or services together as a single combined unit, often for a lower price than they would charge customers to buy each item separately. Bundled products offer more value to your customer. Typically they are offered at a bundle discounts.
Customers today shop value not price. Often small business owners find it difficult to communicate value so price becomes the only value proposition left to customers. This is a big no no and can be disastrous! The key is to offer more value than your competition. Customers will always return when they receive more value. This is why bundling is so powerful.
6. Increase trust
If you don't have trust you will not have customers. People need to be able to trust a business before they buy from them. What this means is that consumers are willing to reward businesses when they work to build trust. The more they trust your business the more they will keep on paying for products and services!
When customers trust your business, they find you credible and want to do business with you. This means greater advocacy, loyalty, and engagement.
Trust gives you an competitive edge. It helps you capture and retain attention. It can make a customer an advocate of your business and increases brand visibility It helps attract and retain more customers.
So keep it in your mind and put positive focus and initiative on making sure your customers keep on coming back time after time after time!
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