Repeat Sales- The organization of repeat sales creates a stable customer base, which is 5-10 times cheaper compared to attracting new customers. The use of modern technologies allows us to convey proposals to those who need them.
REPEAT SALES- HOW IT IS APPLICABLE TO EVERY BUSINESS
Re-sales are the key to the sustainability of any business. If a single transaction, even a large one, is unlikely to make the weather, then an enterprise that has managed to form a pool of loyal regular customers can look to the future with a certain confidence.
Why are repeat sales for companies important?
- According to statistics, attracting new customers is 5-10 times more expensive compared to retaining existing ones.
- Reducing customer churn by 5-10% in the long term saves about 75% of the company’s profits.
- The cost of attracting new customers is constantly growing, and the cost of retaining the existing base remains stable.
What is needed to organize repeat sales?
- To form an offer, by content, price, and quality, attractive to the target audience.
- To convey this information to potential customers, without causing irritation and rejection.
- To achieve recognition of the seller and loyalty to him by the buyer.
Who does not need repeat sales?
Re-sales are not possible in a business that is completely focused on one-time or occasional transactions, for example:
- Sale of apartments.
- Sale of used cars.
- Ritual services.
All other business lines re-sales are required.
What are the methods to stimulate repeat sales?
A variety of tools are used to stimulate repeat sales:
- Holiday Bonuses
- Cumulative discounts
- “Happy hours.”
- Draws, prizes, and lotteries
- Shares “two for the price of one,” etc.
In order for them to work, it is necessary to convey information to a potential client interested in them exactly when he needs it.
Who is the target audience when organizing repeat sales?
The target audience when organizing repeat sales are customers who have already made a purchase of a product or service once, which are:
- They are constant, periodic, or seasonal consumers.
- Physically able to take advantage of the offer (for example, living in the immediate vicinity of the store).
- Correspond to the proposed product or service in terms of income and social status.
Attempts to offer unnecessary goods, too expensive or too cheap goods, as well as goods that the addressee will not be able to use, will not only be ineffective but will also cause irritation.
- How to reach the target audience?
To reach the target audience, a variety of advertising media are used, including the placement of information directly at points of sale, as well as targeted mailings.
- What are advertising channels ineffective in encouraging repeat sales?
Since it is necessary to bring the advertising message to customers who have already made at least one purchase, advertising channels with too wide coverage will be ineffective, such as central television. Print ads in the city edition may “shoot” in the case of the local distribution network, but it will be useless for a small hairdresser serving people in the surrounding houses.
- What channels are most effective for stimulating repeat sales?
The most effective in order to stimulate repeat sales are direct calls to customers who have already made at least one purchase, using SMS messages, via e-mail or via mobile messengers.
- How to organize repeat sales?
For the effective organization of repeat sales, it is necessary to collect and analyze the existing customer base and competently plan – which of the clients at which point with which proposal to apply.
- How to organize repeat sales in large companies?
Large companies have long used for these purposes Big Data – modern technologies for analyzing huge amounts of data. Thus, the trading networks that monitor the activity of customers using questionnaires, bonus, and discount cards have the opportunity to attract them again and again, informing about promotions and discounts on their products. At the same time, which is very important, e-mails and SMS messages are not perceived by the recipient as “spam,” an obsessive and annoying unsolicited advertisement. After all, this is a real opportunity to save money on the purchase of goods that are really needed.
- What are the difficulties in organizing re-selling businesses?
A standard enterprise usually does not have the capabilities that large companies have. Its customer base is relatively small, and the available information about consumers is limited. Opportunities of a small state, sometimes consisting of only one person, do not allow to collect and analyze data.
- What tools does a company need to organize repeat sales?
For this purpose, there are specialized services that collect and large aggregate amounts of information, on the basis of which targeted advertising is launched, focused on the interests and needs of the right audience. They allow a small enterprise and even an individual entrepreneur to independently launch an advertisement that takes into account a lot of data about a potential buyer. You can specify not only the required gender and age but also interests, calculated using special algorithms, the level of his income and even the places he visits – in total, more than 120 parameters. And as communication channels, you can choose mobile tools (SMS, Viber, E-mail), and media (banners or advertising in social networks).
- How to process and analyze information about the company’s customer base?
For this, there are aggregator services that provide services of secure cloud storage that allows you to load a contact database into it — the system will send them information with maximum efficiency.
Here is what entrepreneurs who have already used them to say about such opportunities:
Alexey, the owner of a tire workshop:
“The demand in our market is of a pronounced seasonal nature – in the spring and autumn there is an influx of customers rushing to“ change the shoes ”from winter tires to summer tires or vice versa. The competition in the area is high; there are some more workshops; prices and quality are all about the same. As a rule, the appeal to us is spontaneous, episodic, the client simply calls in the first available service, located near his home or work. And if having arrived, he stumbles upon a queue; then he will simply sit behind the wheel again and drive half a kilometer to another workshop, where he will have to wait for less.
This summer, we have equipped a small warehouse in order to accept “off-season” tires for storage. For many car owners, this service turned out to be convenient – it’s not necessary to hammer in the trunk, get your hands dirty and drag heavy loads, taking up space on the balcony.
In order to inform consumers about the new opportunity, we conducted an SMS distribution to the phone numbers of those who once used our services, most of them live or work nearby. And in order not to miss the queues, they offered to reserve a convenient time with the help of a reply SMS.
The response was unexpectedly large – the opportunity to come at a convenient time and not to bother with the tires removed attracted many. And most importantly, in the spring, they will all return to us again because their summer tires remained in our custody.”~
Nikolai, director of the taxi company:
“Our company is small, and competition with other taxi companies and wild“ bombilami ”is not easy. Our most tasty morsel is the station square, from where visitors are transported all over the city. The prices there are extremely high, and the situation is unhealthy. – sometimes it even reaches fights between drivers.
To attract customers, we created a website, invested in contextual advertising, so that people who plan a trip can pre-order our car, but these are all one-time stories. Even if a person periodically comes to relatives living here or on business trips to local enterprises, it is far from the fact that the next time he will choose our company. Many just have time to forget its name, and when re-traveling looking for “from scratch.”
To encourage repeat sales, we resorted to the help of a specialized aggregator. Now every time a train with a person who has already used our services once enters the coverage area of the local cellular network, the system sends an SMS message inviting you to use our services, rates and estimated cost of the road from the station to the place where he went to a previous time As a result, we deliver the car directly to the train, and many passengers become our regular customers. ”
Conclusion On Repeat sales- How it is applicable to every business
All you have got to know about Repeat sales are already in this content; you are free to ask any question via our comment sections, also, if you need clarification on any of the subject matter, you may as well ask our expert via email or comment section, we are always at your service.
Tag: Repeat Auto Sales, Repeat Auto Sales Manteca, Repeat Sales, Repeat Sales Index, Repeat Sales Definition