Every time you turn around, a blog post on marketing stats tells you that it can cost up to seven times more to attract new customers than to sell to your current buyers.
And of course there are many different ways you can reduce the cost of new customer acquisition. But wouldn’t it make even more sense to let your current customers who are cheaper to sell, spend even more?
Yes, we thought so too. That’s why we’ve compiled this list of four simple ways you can add value to your current customers. You already got their attention. Now it’s time to obsess over them.
Bundle Bundle Bundle
Treat your products like they are running out in a winding tower. The more bundles and choice of bundles you have, the more time your customers will have to buy more. A good example of this is Tushy’s vacation package.
Get a whole collection of goodies in one purchase for a small discount on everything. This is often used during the holidays or as a special offer. However, if you have some standby packages (beginner package, theme package, etc.) you can offer your customers a more consistent offering.
Not only is this an incentive to make a bigger overall purchase, but it actually encourages your customer to try something they may not have bought otherwise. And that might be your new favorite product.
Cart abandonment email
If you haven’t put any items in a shopping cart, realized that you didn’t have your credit card with you, closed the window and instantly forgot that you would ever buy the thing, have you even shopped online?
However, sending your customers a reminder when they leave something in their cart can make a huge difference in your follow-through rates. Even if they were just window shopping, they were interested enough to put it in their shopping cart, and that last nudge could get them over the edge to make the purchase.
It doesn’t have to be complicated and you can send 1, 2 or more if you want. Just make sure that it is as easy as possible for your customer to return to their cart to check out.
Prime with content
Regardless of what you’re selling, the best way is to keep your customers from rebuilding and building trust. And nothing strengthens your trust factor more than great content that sets you apart as an authority, an expert, or even a friend.
The trick is to create content that specifically addresses your customers’ problems. Do your research and find the questions your customers are asking and then answer them. Make sure you are offering a ton of value as this is the best way to build your reputation with your audience.
Whenever you’re making a sale or making an offer on your list, make sure you offer them valuable content for free before ever asking for information or money. They’re much more likely to spend (and spend more) more if they know you can deliver value and they trust you.
This may be the last one on the list, but it’s arguably the most important trick for increasing your average customer benefit. Follow-up.
It seems obvious, but when you actually get in touch with your current customers, you’ll always be kept up to date. And that’s a big part of what adds value to customers. If your customers remember you, they are more likely to buy than if you appear to fall off the ground.
Tracking can be as simple as sending thank you emails after your purchase, and as complicated as sending out surveys or tracking automations. However, these e-mails about leaving the shopping cart after only a few paragraphs are considered as follow-up measures. Even if you just send regular communications and reply to DMs and messages on social media, it is considered a follow-up.
Regardless of how you track, make sure the chain of communication is up and running and stay on top of things and your customers are more likely to make more purchases.
For even more tips on how to grow and scale your business – including customer value – check out Make it Big, a 3-day virtual event where you get the best advice from leading industry experts. Register for FREE today!