Why You Should Set Up A Newsletter
Looking For Repeat Business?
Then Invite Your Customers To Return!
If you could increase sales by 25% by using an email newsletter, would you invest $97.00 a month in this cost effective form of business promotion?
If you have a store or service with products that people purchase on a regular basis then you should be looking for a marketing model that
- Reminds people that they have bought from you before
- Reminds people where your business is and what you offer
- Informs them about new releases and special offers
- Regularly invites them to return to your store
- Thanks them by offering incentives to stay with them
Setting Up an Email Newsletter
By setting up an email newsletter and asking your clients to subscribe you have the means to contact them easily and automatically when you choose to. The effectiveness of setting up an email newsletter has been proven time and again to increase loyalty, retention and customer satisfaction.
What does it cost to gain a new customer?
Business statisticians estimate that the cost of marketing to attract a new customer is about five times greater than it is to keep an old one.
Statistically, the probability of selling services to a new customer is 1 in 16, while the probability of selling services to a current customer is 1 in 2.
It is far easier to get your present customers to buy 10 percent more, than it is to increase your customer base by 10 percent.
The Value of Loyalty
On average a satisfied customer will refer 6 people to you. When you establish loyalty with your customers by giving great service and value, they will refer you, generating business at no further cost to you.
People recommend a business they are happy with. People are also less likely to try a new business when they are satisfied with the service they know, have used, trust and are comfortable dealing with.
Have you estimated the lifetime value of a your customers?
Other companies have!
- The lifetime value of a typical supermarket customer is $380,000!
- The local pizzeria customer's lifetime worth is around $8,000.
- Cadillac car dealership estimates a customer's worth at $332,000
- General Motors puts the figure at $400,000+!
How to increase customer satisfaction
These are simple courtesies that people appreciate.
Personalize your service.
Even if your business is conducted over the internet, there are ways to personalize emails to let your customers know that you care about who they are. This simple touch lets a client feel that you know them, just a little bit, and they are much more likely to show you loyalty.
Say "Thank You."
A customer that feels appreciated is much more likely to bring you repeat business or refer you to a friend. Just saying thank you in a special way can be enough. But if you can personalise your thank you, imagine how much more valued a customer will feel. A thank you card, valuable tips that help them, or a simple coupon sent via email in gratitude for their business costs you little but says a great deal about your company.
Respond to Enquiries
Prompt responses to customer enquiries are important. Technical support that solves any problems people have - to their satisfaction - is greatly appreciated by clients who have little time to waste. If you can't personally find time to respond all questions, consider outsourcing enquiries to a Virtual Assistant via a support desk.
Many queries can be solved automatically by writing articles that answer frequently asked questions and making them available on this site.
The Value of Sorry
Of course there are difficult people who are never pleased, but the vast majority of people are not deliberately so. Mistakes happen and sometimes the inconvenience caused to a customer is extreme. Genuinely trying to make a disappointed customer happy is worth the time you spend fixing it. Be accountable, not only for your own mistakes, but for those of your employees. Realize the value of saying sorry and making amends.
How can the Internet Help You Improve?
No business is unaware of time constraints. Employee wages are perhaps one of the highest costs we have. If you could set in place a system that automates rewards and support and personal incentives to retain your customers, then you are "working smarter".
The internet is a powerful tool that is so much more than a website that acts like a business card, simply telling people where you are how to contact you. It can send news, send coupons, send gifts and enable people to solve their own problems by simply being there.