Generating leads and making sales are typically the top objectives for most startups. However, getting customers and clients to come back and do business with your company on an ongoing basis is really the ultimate goal when it comes to ensuring long-term success. Increasing the average rate of return business is a reliable way to improve your bottom line and create a positive brand reputation.
With that said, here are four ways any startup can effectively incentivize clients and customers to come back after their first purchase:
1. Optimize Customer Experience
By creating a reliably enjoyable and convenient customer experience, you can ensure that a high percentage of your transactions will result in the spreading of positive brand awareness. People tend to share and recommend products, services, and websites that they find useful. Conversely, disgruntled consumers who have negative experiences will often speak badly about the brand on social media and business directories like Google Maps and Yelp.
Since a startup is an upcoming business by definition, you can’t afford to have negative customer experiences ruining your brand’s reputation early on.
2. Provide Discount Coupons to Existing Customers
Providing coupon codes to your customers after checkout is a great way to motivate them to return, as most people will want to take advantage of a decent discount. This is by far one of the most effective ways to encourage additional purchases because it instantly makes your brand the most appealing option for the customer’s next online order.
By giving them access to significantly reduced prices, you keep them from ever considering the competition when they’re ready to make another order in the same niche.
3. Send Out Promotional Follow-up Emails
In addition to sending out any initial thank you or confirmation email that contains a coupon code, you should also schedule routine follow-up emails for all customers who agree to receive your newsletter at checkout. These email updates provide a means of maintaining continual contact with your customer base while also highlighting your current promotions.
4. Launch a Rewards Program
Starting a rewards or loyalty program for your startup is a great way to promote repeat business because it gives customers a reason to keep coming back. Offer substantial discounts to your most loyal customers and give them the opportunity to win raffles and prizes. You may also want to consider providing a loyalty card that your customers can use at your shop to earn reward points.
Repeat Business Can Make or Break a Company
In closing, it’s important to note that generating repeat business will usually be one of the factors that are pivotal to the success of your startup. After all, if you’re investing in marketing campaigns in order to attract more leads and web traffic, you want to make sure that your investments are well-spent by reducing the occurrence of one-off transactions that won’t result in future profits. Furthermore, the same features and attributes that motivate a customer to never return may also cause them to leave negative reviews that prevent other prospective customers from shopping with your brand.