Marketing Promotion Strategy For Getting Return Customers

Most efforts in a marketing promotion strategy are focused on getting new customers and of course this probably amounts to the majority of a company's marketing budget. But it has been determined by many that it costs less to retain happy customers than it costs to get new customers. Does this mean we ignore getting new customers? The answer is no. What it does mean is that there should be a balance of an inflow of new customers and retention of return customers in your marketing promotion strategy.

Marketing Promotion Strategy 1: Determine from where you want to get customers

The success of your business is partially dependent on the type of return customers you get. For example, if your business does a lot of sales on credit, you want customers with good credit ratings and payment histories. Not doing so can lead to disaster in your business-just look at the recent home mortgage credit crisis. So by keeping information as to the payment histories of current customers will help you be more directed in your marketing promotion strategy to retain them.

Marketing Promotion Strategy 2: Better to sell at a good price to one customer than reduce prices among many

That is because you can only expect no more than 50 to 60% of your customers will return. And the ones who return are probably the ones who had a good price with you last time. It is next to impossible to raise your price with return customers you sold at a low price. This could hurt the long range profitability of your company and threaten its very existence. So, one marketing promotion strategy is to target those who do the most business with you. Some businesses offer cards that are punched after each sale and then after so many sales, the customer gets a reduced price.

Marketing Promotion Strategy 3: Communicate price increases beforehand if possible

You will have a better chance at keeping your customers if your marketing promotion strategy communicates any price increases beforehand. You can do this through a newsletter or other forms of media advertising in your marketing promotion strategy along with an explanation.

Marketing Promotion Strategy 4: Use surveys to get feedback from customers

However if you use surveys in your marketing promotion strategy, keep them such that they don't make the customer spend a lot of his or her valuable time. And, if you use them, make sure that you really use them and not just have the customer go through the drill to make him or her feel good.

Marketing Promotion Strategy 5: If you have a special status for customers make sure you add value to that status

In other words, if you classify some of your customers in a "preferred" or "gold" customer status based on some pre-determined criteria, make sure they see value to that status. Some businesses use special discounts or even a "get one free" promotion after a preferred membership customer buys so many other items.

Marketing Promotion Strategy 6: Promote customer service that is accessible

There is nothing worse than trying to reach a customer service department only to be put on hold in what seems like an eternity. Then, when you finally get to speak with a person, that person is not knowledgeable on the product and cannot answer your questions. If you do not have enough staff to run a customer service department, you might want to add information that is searchable and easy to understand to your website. Then, you have to make sure you tell others of this area on your website in your marketing promotion strategy in order to get them to try and have their questions answered on site first.