4 STRATEGIES TO GET YOUR CUSTOMERS TO BUY MORE
4 STRATEGIES TO GET YOUR CUSTOMERS TO BUY MORE
Often time marketers focus more on new customers forgetting that sometimes the most cost-effective way to grow or improve on sales is to look at your already existing customers. Business executives or leaders should find a very strategic way to find new customers, but also think of a way to improve their relationship with already existing customers, and make them increase their spend. In this article we going to look at four ways to make your customers spend more:
• Trials and Demos: not-so-free samples
• Add value and create content
• Up-sell and Cross-sell
• Always track your performance
TRIALS AND DEMOS: NOT-SO-FREE SAMPLES
Freebies are the best ads and salespeople for your brand or product as they constantly boost effective response rate. By giving customers free trial packs, the brand or business owner demonstrates their confidence in the product’s quality and their performance. Sampling reminds the customer that the power to decide lies with them, and they can feel assured that the product they are about to buy is tested and trusted. When people receive something for free, they feel compelled to give back (buy from you) to bring balance to the relationship between you both. This is the principle of reciprocity.
That is why some companies who produce cosmetics attach free soap samples to some of their products and perfume brands attach free perfume samples. Successful sampling goes beyond beauty and personal care items. Edibles and packaged grocery works too.
Companies and brands aren’t giving away samples for altruism, but its full-on capitalism, as there is a direct link between samples and sales. Despite the cost of giving samples away for free to attract customers, sampling also pays off. Retailers have boosted sales by as much as 2000% by initiating low-risk product trial to earn consumer confidence. When a first time shopper places an online order, could your company throw a free sample to promote trial and brand trust?
ADD VALUE AND CREATE CONTENT
Customers appreciate businesses that offer them the benefit of their expertise. Adding value by offering advice is a great way of building relationships and encouraging customers to spend more. This advice can be passed on individually, or it can be published on your page or website via a newsletter.
If you decide to create content for your website or social media page, your focus should be adding value for your customers or helping them solve problems. Content which is transparently promotional tends to underperform and may actually have a negative impact.
UP-SELL AND CROSS-SELL
Up-selling and cross-selling are similar but slightly different. Up-selling is encouraging customers to buy additional more expensive items or items of higher value and cost while cross-selling is encouraging an existing customer to buy a different product or service that could fit their needs.
In either ways, the best time to do it is when the customer is at the process of making purchase. Offering useful combinations of complementary products at a discounted price is a common cross-selling practice. Alternatively, you can promote a more expensive but higher quality version of the product they have already decided to buy in order to increase the value of the sale. A direct comparison of the original product and the more expensive one, clearly demonstrating the added value, is a good way to achieve this.
ALWAYS TRACK YOUR PERFORMANCE
Just as all marketing activities are done, tracking performance and keeping a record of what is working and what is not is a very good idea. If you notice any improvement on a particular up-selling or cross-selling, the best thing to do is to double-down on it. As mentioned, increasing your customer’s spend is the most effective route to growth and tactic that can aid any business. Be careful and be systematic in your approach and focus on adding values rather than just increasing the price. Start by giving out freebies to attract more customers, then look for ways to add value to your customers by creating lucrative content and look for opportunities to cross-sell or up-sell. Once you’ve made the most of customer relationships, it’s time to develop new services.
Wondering how to achieve your desired result using these strategies?
STRUGZ is a Public Relation, Legal Business Management, Trainings and Consulting firms in Nigeria, that has the ability to help your organization implement these strategies. Study actually reveals that a lot of companies have the will power and strategies to improve their sales, but lack the technical knowhow to go about it, of which STRUGZ can help by training your work force to enable them implement these strategies to improve on sales and get customers to patronize you more.
Contact us today:
Phone No: +2348058424788| +2348142477508
Office address: Office33 Wole Ariyo Street, off admiralty way, Lekki phase 1, Lagos Nigeria.