Successful brands work hard to foster repeat sales. They often spend on big programs but can easily overlook smaller details that hobble ongoing revenue.
Here are three things to watch for:
1. tag your product
Women's black opaque tights can be purchased many places, at many price points. Some are great, some are not. I recently discovered a pair in my drawer that are extra special. The yarn has suede-like softness and the fit is perfect. Alas, there is no tag in this pair of tights so I have no idea the brand or the size. Though I'd love to buy them again—in quantity—it's doubtful I ever will. Too bad for me. Too bad for the company who made them.
One company I know who engineers and manufactures highly specialized components for food manufacturers sandblasts their company name onto their product. This is genius! By emblazoning their logo "loud and proud," they build their brand and ensure that if their contacts go to another company, there's no mistaking where this excellent product was made.
Don't assume that customers will remember the brand of what they purchased. This is just plain dangerous.
These tights don't have a tag, so no matter how great they are, we probably won't remember where to buy more. They need a lesson from Gold Toe, a brand who does it right.
2. get your database in order
A surprising number of successful, well-established companies tell us sheepishly that their database is a little outdated, or they really haven't figured out how to make it work to its fullest potential.
Worse yet, others have no common database at all: each salesperson manages a list that he's developed but there's no centralization.
It's a crime if your organization doesn't know who your best customers are, their average spend and how often they return.
Don't delay. Clean up your database and manage it. When you really know the details, you can tailor sales messages, make special offers and build loyalty.
3. be wide and deep
If you're a B-to-B brand, you're most likely to maintain repeat sales when you have multiple relationships within your customer's organization. When a key contact moves on to another company, you'll still have a number of people who know and trust you—and most likely will continue to rely on your company for their needs.
Bonus points to you if you're also keeping track of where the key contact goes so you can begin to develop business at his new organization.
do the math
While most companies need to attract new customers, they must also devote efforts toward keeping current customers returning and spending. It's an efficient way to build more revenue and profit.
If you'd like to talk about ways to ensure repeat business and capture more sales and profit, call Martha at 785.969.6203.
Tags: brand loyalty, profit, repeat sales, database, customers, marketing, revenue, target audience, marketing strategy
