Do you have an accurate concept of your customers’ value to your online business? You’re way off base if you think it’s just the price of your product, because that’s just represents the value of a customer’s first purchase.
A more important number to know is the “lifetime value” of a customer. Did you know that you’ll spend five to seven times more money and more effort to gain to a new customer than you would to get another order from a current customer?
That’s just a general guideline, though. With some products, prospects won’t buy unless they have additional contact and pay extra visits to your website. Carefully nurturing your customers is a powerful technique to boost your overall sales.
By the time you send out a new product pitch, you’ve already developed a rapport with your prospects and customers, so they’ll want to know what you’re offering. It can be challenging for buyers to find high quality products being sold by reputable, trustworthy sellers, so selling a good product that’s backed by a solid guarantee and delivered in a timely manner will make your customers much more likely to buy again.
To keep your customers making purchases, avoid flooding them with every single product offer possible. Instead, send each customer offers that match up with the type of product they previously bought and its general price range. For example, some buyers want CDs or DVDs, while others prefer downloaded products.
The worst thing you can do is send your customers every type of offer you can think of. It won’t take long before they’ll start deleting your emails without reading them. It’s important to know your customers’ preferences because that’s what lets you offer them the products they’re most likely to buy.
When you send out a product offer, you want your customers to say “I can’t wait to see what’s new!” That type of eagerness leads to a customer who buys over the long haul. The way you handle your customer contacts is what makes you stand out from other Internet marketers.
Send out the occasional free item as a “customer appreciation” gift. You’ll really stand out if you send a free gift that’s not part of an order. This is another way to remind a customer to drop back into your site and see what’s new.
Let your customers market for you by offering a discount or bonus item when they recommend a friend who purchases your product. A loyal, repeat customer is gold – treat them as the valuable asset that they are to your online business.