Techniques to get more profit from your most loyal customers
Posted: Wed Dec 18, 2024 3:30 am
There are basically two ways to increase sales in a company: either new customers arrive or the ones we already have buy more from us. However, the cost of acquiring a new customer can be up to 6 or 7 times more expensive than retaining an existing one. That is why we are going to see how to get more profit from your most loyal customers . It is essential to work on loyalty, so that the customer who has already bought from us, repeats.
Another common mistake is to think that a loyal customer is more profitable, especially if it is not worked on properly. The objective is not so much loyalty per se, but rather identifying which customers are the most profitable and promoting commitment to our company in this group so that it translates into improved sales and profits for our company. Only 20% of customers will be profitable for a business. And we must focus our marketing efforts on them.
Loyalty, experience and commitment
But to properly exploit loyalty and make our night clubs and bars email list customers repeat, it is necessary to offer more than a sale, a product or service that they need, an experience. We must not forget the emotional aspect of purchases. According to a study by CreditCards.com, 75 % of adults and 83% of millennials admit to having made impulse purchases. This aspect is very important when it comes to getting existing customers to repeat their business.
It is essential to clearly define the objective of what you want to achieve. Be clear about how much the cost of acquiring a new customer means to the company, the recurring purchases and the frequency with which those we already have come back to our company. But also the recommendations . The customer who makes us sell more, who brings us other customers based on gratitude to our company and self-fulfillment.
Identifying the most valuable customers
But the first thing a company must do is find that group of loyal customers who are the most valuable , those who represent the largest percentage of its profits. Parameters such as the net profits they bring to the company, the preference index, longevity or their growth potential and recurrence must be taken into account.
Not all customers have the same needs . But they are not all in a position to spend the same amount of money either. It is therefore necessary to optimize efforts to retain customers. We must not forget those who leave us with less profit, but logically it would not be fair to make them the same offer as those who provide us with greater profits.
Another common mistake is to think that a loyal customer is more profitable, especially if it is not worked on properly. The objective is not so much loyalty per se, but rather identifying which customers are the most profitable and promoting commitment to our company in this group so that it translates into improved sales and profits for our company. Only 20% of customers will be profitable for a business. And we must focus our marketing efforts on them.
Loyalty, experience and commitment
But to properly exploit loyalty and make our night clubs and bars email list customers repeat, it is necessary to offer more than a sale, a product or service that they need, an experience. We must not forget the emotional aspect of purchases. According to a study by CreditCards.com, 75 % of adults and 83% of millennials admit to having made impulse purchases. This aspect is very important when it comes to getting existing customers to repeat their business.
It is essential to clearly define the objective of what you want to achieve. Be clear about how much the cost of acquiring a new customer means to the company, the recurring purchases and the frequency with which those we already have come back to our company. But also the recommendations . The customer who makes us sell more, who brings us other customers based on gratitude to our company and self-fulfillment.
Identifying the most valuable customers
But the first thing a company must do is find that group of loyal customers who are the most valuable , those who represent the largest percentage of its profits. Parameters such as the net profits they bring to the company, the preference index, longevity or their growth potential and recurrence must be taken into account.
Not all customers have the same needs . But they are not all in a position to spend the same amount of money either. It is therefore necessary to optimize efforts to retain customers. We must not forget those who leave us with less profit, but logically it would not be fair to make them the same offer as those who provide us with greater profits.