New customers are important, especially if you want to expand your business. But don’t forget that repeat customers are the backbone of your business. And they can bring you lots of profit, too: a study by Bain & Company found that when customers come back in, they spend roughly 67% more than first-time customers. Over their lifetime, loyal customers are worth 10 times as much as their first purchase, according to the White House Office of Consumer Affairs. Thus, it’s definitely worth putting effort into raising the number of repeat customers.
You can look at the Customers report in the report module of ConnectPOS to find out how many repeat customers you have and who they are. If you haven’t got many repeat customers, it’s time to think about how to improve and here are 3 ways to raise this number.
Optimize Email Marketing
To optimize email marketing campaigns, you need to segment your customers and send them targeted messages. First, you can look into the customer list in the Customers report in ConnectPOS to view the key information like the last time a customer purchased from you and what they bought. You can combine this report with other sales report to spot trends – these insights can help you make decisions on your business and bring more people in.
Now, with a customer list and insights on hand, it’s time to take actions. You can create beautiful emails in Magento with personalized messages for each group. In addition, you can conduct A/B testing and track what’s working and what’s not, so you can spot trends and make adjustments when needed.
Engage with Customer Feedback
To improve as a business, you need to know how you’re doing. Thank your customers for their positive feedback and earnestly listen to their negative feedback, too. You will need a tool to monitor your brand mention on the Internet and a strategy to deal with negative feedback. You can respond with messages or discounts, so you can keep what’s working and turn any dissatisfied customers into loyal ones.
Offer a Loyalty Program
Give your customers a reason to visit you again by offering a rewards program. ConnectPOS is integrated with Reward Points by Aheadworks so if you also use this extension for your Magento website, you will have an integrated loyalty program across all the channels. This means customers can spend their online points and earn more points when purchasing in-store, and vice versa. Our clients who have implemented this integrated loyalty program have received many positive comments and reported on higher customer satisfaction, and of course, a rise in sales.
Repeat customers are the key to the success of your business and we hope that these tips will help you bring some more in.