A study by Market Metrics (a FactSet company) states that probability of selling to new customers is 5-20% compared to the probability of selling to existing customers, that is 60-70%.
Building relation with your existing customers will help you increase sales order for your business. But, how can you do so?
Excellent customer service- Key to drives sales
Gone are those days, when your job was to just make a sale. Today, customers expect a more personalized shopping experience, and brands offering service to their customers in a way that they would like are already gaining a competitive advantage and increase sales for their business.
Below in this article, we provide some tips to increase bonding with customers and how will those tactics help you increase sales for your business.
If you think building relation with customers happens overnight, then you are mistaken. What you need to do, is to identify those elements that works and allow you to grow. Don’t worry it’s not as hard as you think.
Here are four effective practices:
The key for a successful relation, is communication. And, communicating with customer in a personalized way will make them feel they are actually dealing with humans and not robots. Whether you think of sending a thank you email after every purchase they make, or greet them on special occasions- frequently communicating with existing customers will build trust and make them feel you care about them being your customer. This way, they will automatically stick with your brand and make repeat purchases.
Modern customers look for a give-and-take relationship. Therefore, rewarding customers in a way they would like will make them stick with your brand, as well as, spread a good word about your service in their networks. But, it’s not possible to reward all your customers. Adopting a contact management system, you can prepare customer segmentations, which make it easy to track customer purchase behavior and later target the ones that you are sure of being loyal with your brand.
Today, customers always prefer to stick with brands who offer the latest trends and regularly updates them with information that they are eager to know. Creating content and offering it to customers in a personalized way can help you build a unique bonding and encourage them to stick to your brand and enjoy shopping from your store, always. Investing in email marketing campaigns, will give you a chance to frequently stay on customer’s mind, build their confidence with your valuable information, and also, encourage them to attract customers for your business.
Successful relations will depend on the engagement level. Therefore, the more you encourage customers to engage with your brand, the better relation you can built. There are many ways you can do so, however, encouraging customers to partner in brand improvements can be ideal choice. Doing so, will open the doors for new ideas and initiatives, making it easy to increase relationship and encourage them to spread a good word about the brand experience they are getting, in their networks.
Despite all your effort, it may not be possible to built the same relation with every customer. However, implementing the above steps will help you gain measurable improvements in sales, as and when you lengthen the relationship with the most valuable customers of your brand.