Strategies to Increase Repeat Buyer Rates

Thursday, 7 August 2014

As a salesperson or business owner, you spend a lot of time and resources to get people in the door to your business in the first place. Turning a prospect into a customer can be expensive. The truth is, however, it costs less to keep a customer than it does to make a new one. This means that we need to figure out ways to get one-time customers or clients back in the door so that they are repeat customers and then loyal customers. We need specific strategies to try to accomplish this.

Ask yourself what are the reasons a client or customer might NOT return for a second, third, or to make regular purchases? Chances are if they have a negative customer service experience, they will not return, likewise if the prices are too high or the merchandise or service just does not meet their needs. These may or may not be things you can control. It is a good idea to scrutinize these elements and control the pieces you can control. For example, you can decide what sort of customer service you will offer and doing the best you can, may not ensure customers will return, but it could eliminate one of the reasons they might not.

Incentives can be another way to get one-time customers back in the door. Offering a coupon or bonus or free product or service for those who have already purchased is a tried and true way to build customer loyalty and increase repeat buyer rates. This involves keeping accurate records of customers so that you can follow up with a special rebate, discount or offer. If you are in a retail business and you do not keep a database of customers, consider giving the discount coupon or rebate to customers when they make their first purchase and this may encourage them to come back for another.

Invite feedback and involvement from customers and prospects in order to give them "ownership" in the business relationship. Whether you are in a retail business, online business or have some other form of business operation, asking people what they think and how they think you can make improvements to your business or service can actually cut down on complaints and encourage repeat buyers. If customers feel as though they are being heard and you actually want to please them (and that they can talk to the individuals who can make changes), they may be less likely to take their business elsewhere.