Dec
17

Encourage Customer Loyalty Cheaply and Easily

By Stacy Karacostas
Stacy Karacostas from SuccessStream here with another quick audio marketing tip. In case you don't like listening to audio, below are the transcripts from today's podcast:"Encourage Customer Loyalty Cheaply and Easily with this Small Business Marketing Idea". Are you looking for a simple, inexpensive way to get people to buy more now.And come back to buy again later (Duh, who isn't)? Instead of putting your products or services on sale, or giving out coupons, consider offering credit towards future purchases for every so many dollars spent between now and a future deadline. For example, I might say "For every $50 you spend with me before December 31st, you'll get 10% back in Stacy Bucks you can spend anytime in the next year." Then simply let customers or clients know how much credit they've earned when they make a purchase. And be sure to send out one or more statements, ideally along with a catalog or promotion, to encourage them to come back later and use their credit. The outdoor store REI, which is technically a co-op, does a version of this where members are credited a percentage of all purchases at the end of the year. This comes in the form of an annual mailed "dividend" that is good towards any purchases for a limited amount of time. I'm sure other variations on this theme exist. As long as the format you choose is low-cost to you, rewards customer loyalty, gives you a great reason to stay in touch that they'll appreciate, and encourages them to buy again from you, you've got a winner. Do you have thoughts on this idea? Have you done something similar, but different, and had great results? Please share by leaving a comment below.

Comments

  1. Yves says:

    Hi Stacey,

    Being inside sales but shortly moving to marketing department I was also thinking how we could increase sales. We sell data cables and components and have a huge stock. Some products are just sitting there taking dust and costing money.
    An effective way to get rid of overstocked or older products is simply to send out a list with prices and discounts to some major distributors. Add a good short message with it and follow up a day later to get feedback.

    Rgds,

    Yves D.
    Belgium

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