There is no doubt that lead generation offers a powerful tool for customer acquisition. Despite the obvious benefits, many businesses tend to overlook customer retention in favour of strategies that are designed to bring in new customers.
For customer retention, lead nurturing is equally effective, helping to drive loyalty, build a reputation, and increase sales over a longer time frame. The secret to encouraging repeat business is not so much a secret and more a case of using a few basic lead generation strategies that are specifically aimed at bringing customers back, time and time again.
Lead Generation Strategies for Customer Retention
It costs far less to retain customers than acquire customers, which is why it is so important to put thought and effort into your lead generation strategies designed to keep customers returning. Some of the most effective strategies to drive repeat business include the following:
Personalised offers can come in many forms. You could use these to lure customers back if they have not made a purchase recently. You could use these to promote similar products or services to those that have been purchased. You could also use these for referrals, reviews or testimonials. You could even offer personalised deals on purchases over a certain value or give them discounts on special events such as birthdays. When these are personalised and done in a way that is genuine, they can be a great motivator for customers.
Loyalty or rewards
On a similar note, loyalty or rewards programmes can also be a great way to reward customers. Essentially, loyalty programmes reward customers for every purchase and action, either in points or a discount on their next purchase. Unlike personalised one-time offers, these programmes are often structured, with rewards that are granted for either spend value of a certain amount, referrals to friends and families or other actions.
Upselling and cross-selling
Another way to encourage repeat business is upselling. This works especially well with product based businesses but it can also work in service-based businesses if additional services can be added on to primary packages that have been purchased. Cross-selling also works well if you have goods or services that can be purchased together. Done carefully, both of these add value to customers, which in turn helps to drive repeat business.
Take control of your customer retention strategies and see just how much value returning customers have to offer with a lead generation plan that is designed to keep your business thriving for years to come.