This Is What You Definitely Need To Do To Increase Customer Retention!
Honestly, who doesn’t want to know “how to” systematically increase customer retention? Especially if you or your major competitors can discover how to do so for literally pennies on the dollar.
Quick question. If you walk into a reputable retail appliance store. And they were having a blowout inventory closeout sale. And you were able to buy their last state of the art ipad in stock. And it usually retailed for $599 dollars or X.
By now in order to move it in order to make room for the recently updates models. This reputable (and extremely marketing savvy) retailer was more than happy to let their opt in email or text message subscribers only. Purchase their ipads for just $179 dollars. Say what?
Now even though they may barely make any gross profit on the initial front end of this particular “closeout” sales item. Going forward.
How often do you think those opt in email or text message subscribers will be returning to the store? Bingo. Of course having blowout closeout sales events are not the only way to retain your customers, right? The rest of this post is dedicated to other proven methods and strategies for doing so….
Are You Wondering How Do You Develop A Customer Retention Program?
If nothing else. Both you and your major competitors know your customers or clients. If nothing else they love to brag both on and off of social media about some fabulous deal they got, correct? Absolutely. Don’t you? No worries me too.
So let’s properly set the table with this very first hypothetical marketing example. And if you wouldn’t mind being brutally honest here. For a moment put yourself on the receiving end of this particular marketing generosity.
Suppose you live in one those affluent areas of town in an upscale townhouse. And most of the homes start at $400,000 – $900,000 dollars range. Perhaps slightly more. And the schools in the immediate area are extremely well performing.
And your particular neighborhood is flush with manicured lawns and fancy cars and trucks etc. And all of the retail stores and services sprinkled all throughout your neighborhood are all owned by other locals.
At least 50-60% who live within a five to ten block radius of you.
Who Says You Need To Constantly Spend A Fortune In Order To Make A Great First Or Second Impression?
So imagine this. It’s a Saturday afternoon and you’re just about to start binge-ing on Netflix. So you decide to order two large pizzas and twenty buffalo wings and two large liter sodas.
But instead of ordering them from a nationally franchised chain. You go with a local neighborhood, single location Mom & pop owner. So you order via your phone. And within 15 minutes your door bell is ringing.
And your order comes to $37.50. And just as you’re about to pay. The driver hands you your order and winks. And says “this ones on us.”Say what? Honestly.
After you recovered from your momentary shock. Going forward. How often (as a bare bones minimum) would you repeat and share (more like brag!) about your good fortune? Both on and off of social media. Bingo. Who wouldn’t right? Absolutely.
And as you look even closer. You notice inside the bag the driver handed you before leaving. Guess what? There’s also a sealed envelop with the words written on the outside of it. In big red letters. “You definitely deserve this!” Huh?
And depending on “who” called the order in. The sealed envelop will either have a “M” or “F” on it. Obviously the envelops with the “M” on the outside will have some extremely time sensitive gift certificates targeting local men.
And likewise with the sealed envelop with a “F” on the outside.
Are You Starting To Appreciate Why You Don’t Necessarily Need A Huge Marketing Or Promotional Budget In Order To Make A Huge Splash?
Behind the scenes. For this particular promotional. A local retail appliance center is actually paying for this particular promotion with the local Mom & pop pizza shop owner.
And one of the main reasons they can be so generous. Is because they’ve already run their ideal customers total lifetime customer value metrics. And basically their ideal customer is easily worth somewhere between $300- $11,000 dollars in total gross profits.
Give or take over the next five to seven year period. And the ladies will be pleasantly surprised to discover, inside their sealed envelops.
Will be an extremely time sensitive gift certificate from a local retail jeweler. And side (A.) of their market tested, two sided gift certificate will invite the recipient to enter the jewelers monthly free drawing.
For a chance to win a $2,500 dollar diamond studded necklace. And side (B.) invites them to come to the jewelers showroom. And do so before the hand written date on the gift certificate expires. They come to the jewelers store alone. And they only save 10% or some rather low amount for coming alone.
However, simply for dragging a friend with them to the jewelers store, before the hand written expiration date expires. Whose at least 18. They automatically get to purchase an extremely eye catching pair of diamond studded earrings which normally retail for at least $450 dollars. For an extremely limited time they only pay $225 dollars or X.
You Definitely Have Several Non Traditional Ways To Make A Really Big Splash! (Don’t You Agree?)
And the guest receives a can’t say no “OTO” offer. Huh? A (One Time Only) offer to purchase a really nice bracelet. And provided they join the jewelers opt in email or text message list. As long as they do so before they leave the store.
They get to purchase this really nice bracelet for just $97 dollars. Even though it usually retails for $250 dollars. Say what? This way you know the guest will be constantly posting both pictures and videos of their great looking bling. Right? Wouldn’t you? Agreed.
So over time. The jeweler will be receiving a ton of, positive viral word of mouth and mouse buzz. For literally pennies on the dollar. Correct? Coming up shortly in part two.
You’ll discover at least three more proven ways to strategically increase customer retention. Okay? See you in just a little bit.
Consistently Generating Some Positive Word Of Mouth And Mouse Buzz For Literally Pennies On The Dollar! (Is Definitely The Name Of The Game!)
P.S. Now as is customary during this part of our show. Please share your extremely valuable comments (in the comments section below)
that you can apply to your business, product or service in the next 30 days or less!
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(Click the link just below, and watch the first video at the top of the page, if you’d like to see the entire 33 minute replay, of a guest podcast on
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