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| #1 Rule to Boost Sales: Reward Your Loyal Clients |
By:
Andrew Michaels |
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Of course it’s important that you would want to generate new leads to your business. New leads mean new opportunities for your business to grow. New prospects would mean that you can tap on additional clients that can help you increase your database.
But a good marketer knows that there’s gold to be had from already existing customers. Loyal and satisfied clients bring in more incremental business. In fact, it’s six times cheaper and 75% easier to make a sale from a loyal customer who already trusts you, than try to convince someone new to your line of business.
So although it’s important that you pursue new leads to your business; it is equally significant for you to take care and continue to promote to those who have been nurturing your business to what it is today.
Focusing most if not all your marketing resources and efforts to your existing customers is much easier and can reward you with more favorable outcome. Getting your customers and clients to purchase your new line of products and services is much more painless as you don’t have to market aggressively to them. They know and trust you, and they would be much willing to try out any new offer you have.
So how do you keep them coming back for more? One way is to reward your best customers for having done what you want them to do. It just shows them that you appreciate your customers and what they gave you and your business.
However, having a loyalty program also doesn’t mean that you do it in a way that your loyal customers have to wait for such time that they’ll be able to avail of their rewards. In order for you to foster customer devotion and increase your profits in the process, you need to be able to give them their reward right away – not on the 10th or 15th purchase. Or if your customers have to buy at least three important items in your list and all they get for the effort are custom folders that your presentation folder printing company created for you, then the reward itself loses the significance of the gesture.
You have to remember that you have to have your loyal customers right at the center of your business. If your rewards system feels like you’re giving it away just so you can say you have one in place, then you would certainly defeat the objective of the exercise. |
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