How much time do you invest in customer retention?
Only 25% of small business spend time nurturing and growing their existing customer base, which is not ideal given that it is far cheaper to retain customers and find ways to increase your cost per sale with an existing customer than it is to find new ones.
In fact, finding new customers can cost five times more. And increasing your customer retention by a mere 5% can increase your profits anywhere from 25-95%.
So, here’s a couple ways that will help you keep your customers sticky.
Make use of the automated marketing tools available to you and send regular personalised offers to your customers.
Set up a loyalty program eg. Buy 5 get one free, these incentives encourage repeat business and loyalty. Stay top-of-mind with your customers, develop one-off promotional codes for customers who have not ordered from you in 7, 14 or 21 days, maybe a buy one get one free offer.
Both Deliverit’s Online Ordering and Mobile App solutions support various types of loyalty and promotional strategies just like these, so maybe its time to leverage the client data you have available and formulate some targeted offers and promotions.
Customer retention marketing is essential to the success and growth of your business and our technology can help. Maximise your software investment, speak with us today about how we can help you increase sales and grow your business.