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5 easy ways to increase the number of transactions

Ok, so now we know how to generate more leads. Some of those prospects even became customers. But how do you increase the number of transactions with your clients? How can you make sure they come back and become repeat customers?
Here are some very interesting statistics:

olivetree marketing SMB revenue chart
  1. 61% percent of SMBs report that more than half of their revenue comes from repeat customers, rather than new business. [BIAKelsey]
  2. It can cost 5 times more to acquire new customers than it does to keep current ones. [The National Law Review]
  3. 89% percent of customers begin business with a competitor following a poor customer experience. [Oracle]
  4. It takes 12 positive customer experiences to make up for one negative experience. [Parature]
  5. Customers who make two purchases are 10 times more likely to make more than someone who had only made one.

What do these statistics tell us?

The message is loud and clear: CUSTOMER SERVICE is vital to retain customers and increase the number of transactions.
But how can you achieve great and meaningful and reliable customer service?

1. CONSISTENT CUSTOMER EXPERIENCE

olivetree marketing Customer experience

What is the success behind McDonald’s? Consistency. You can go to any McDonald’s restaurant in the world and you get the same experience. Same Big Mac, same shake, made and presented the exact same way. Your customers want to know that whenever they visit your business, the service will be the same. And with consistency comes trust. With trust come repeat customers.

2. EASIER TRANSACTIONS

We spoke about the importance of making it easy for your customers to buy from you in our Lead conversion blog. Effective, fast and friendly service, and easy, hassle-free transactions make the buying experience easy. And when they return next time, they know what to expect.

3. FOLLOW UP AND FOLLOW UP

We’ve all been there. We ordered our dream leather lounge and we’re already picturing ourselves cosily snuggling up, ready for our favourite TV show to begin…. only to find out that we have to wait 8 weeks for the lounge to arrive…..After weeks and weeks of waiting, as the delivery date approaches, we still haven’t heard from the supplier on the ETA, and we are getting frustrated.
How different would our buying experience be if the store gave us a phone call once every few weeks just to update us on the progress, and to assure us that our dream lounge is on it’s way… Now put yourselves in your customer’s shoes: this is exactly what they experience when they don’t hear form you for a while. And it’s so easy to do: put a reminder in your calendar, and give your customer a call, or shoot them an email.

4. EXCLUSIVITY

olivetree marketing Exclusivity

We all like the feeling of being valued, and I’m sure you like a good deal too. Offer a sneak peak, a new product/service launch special, or memebers-only deals. You’ll see a great return of investment and your customers might even give you a five star review!

5. OFFER ON THE NEXT PURCHASE

To demonstrate your appreciation, give your customer a gift voucher or gift card or discount voucher they can use on their next purchase. It will not only make the clients feel special, but it is very likely that they’ll be back and become repeat customers.

If you like our blogs, please share and/or leave a comment or feedback. If you have any questions, email: olivia@olivetreemarketing.com.au.

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