It costs more to attract new customers than to retain old ones. Customer loyalty is also beneficial for the company because repeat customers have a tendency to spend more and to promote your business to their contacts. It is therefore a good marketing plan to devote a substantial chunk of the company’s resources on ensuring that existing customers remain happy and satisfied. A happy customer tends to spend more. Fortunately, there are various social media tools available to make this task easier and more cost-efficient.
First, it is essential to provide customer service assistance through various social media channels. Facebook, Twitter and other similar services are accessible venues for airing out concerns and raising questions about the company’s products and services. Responding through these channels make interaction more convenient for the customers, and it also provides you the opportunity to make your presence known online. Good customer service always translates to customer satisfaction and higher revenue.
Social media tools also add value to the customer experience. Engaging them in constant dialogue fosters and promotes a more personal relationship with them. An open line of communication empowers them to provide positive feedback or even suggestions on how to make your company stronger and better. Customers are more comfortable with spending money on companies that they feel comfortable with.
Here are other great suggestions on how to boost revenue from existing clients using social media connectivity:
Have Them Spend More
Providing your social media followers and subscribers with exclusive promotional deals will help make them spend more. For instance, you can issue vouchers that will give a 10% discount for an accumulated one-time purchase of £100. This tactic encourages the customers to spend a total of £100 instead of the usual amount that they spend on your products or services.
Incentives for Frequent Purchases
Another method of encouraging repeat purchases is by offering freebies or incentives to followers who make frequent purchases. For example, you can give a 20% discount on the fourth purchase of the same product. You can also allow customers to accumulate points from every purchase and use these points to redeem interesting prizes. Customers love a good deal and are often willing to spend more in order to save more.
Introduce Other Products
Social media tools are great avenues for introducing other products and services to existing customers. All it takes is a simple photo or an interesting link. Without resorting to too much spam, you can use your tools to highlight certain services that would appeal to your client base. Start with products or services that complement the usual items that they purchase. The posts need to be relevant to the readers and should provide benefits that would interest them.
The Customer is at the Core
In any social media promotion that you will engage in, you must always remember that the customer should be the primary focus. Posts and promotions should always have the best interest of the customer at heart. They should always find value in what you are asking them to read or they will lose interest and simply move on. Resist the temptation of giving too much information about your company or the product you are selling. It is your responsibility to find a good balance between showing them what you want them to see and keeping them interested.
Businesses thrive because of the support of satisfied customers who keep coming back for more. Owners should learn to appreciate these repeat customers and give them more reasons to continue their patronage. Giving exclusive privileges through social media channels is a good way of making them feel valued.