Welcome, Guest: Register On Nairaland / LOGIN! / Trending / Recent / New
Stats: 3,143,492 members, 7,781,478 topics. Date: Friday, 29 March 2024 at 03:11 PM

A Secret That Increases Sales By 150% - Business - Nairaland

Nairaland Forum / Nairaland / General / Business / A Secret That Increases Sales By 150% (777 Views)

Tin Can Records 150% Increase In Agro Exports / CBN Injects $388.66m Into Foreign Exchange Market As FCMB Increases Sales To / How To Make $300/week Writing For A Secret Website! Free Step By Step Guide (2) (3) (4)

(1) (Reply) (Go Down)

A Secret That Increases Sales By 150% by labimide: 6:14pm On Oct 09, 2015
A secret that increases sales by 150%

Have you heard of Boloco’s card and Amazon Prime? They are open secrets!

Okay, this is about customer retention, and I was not bluffing when I hinted that it can increase your sales by 150%. Harvard Business School reported that a 5% increase in customer retention can increase profit by 25-95%. So, you do the maths.

Moreover, returning customers spend 67% more than new ones and, ironically, it costs 5-10 times more to acquire a new customer than to keep old ones.

Customer retention is the reward for excellent customer service delivery. And what better way to deliver service excellence than to relate with customers on a ‘spiritual’ level, giving them a dream to live up to. That is exactly what loyalty programs do.

So, Boloco’s card and Amazon Prime are loyalty programs of Boloco, the burritos connoisseur, and Amazon, the ecommerce giant, respectively. Successful companies create loyalty programs like clockwork, because they understand how radically it transforms the bottom line. But if you must do it, you must get it right. Give customers real value, a true dream to live up to.

If you get it right, you own the heart of your customers, you own their purse, and get your deserved share of the purse. You know what? You would also increase the emotional and physical cost of your customers leaving you for competitors. After all, we all jealously guard our reward points.

So, it is high time you create a loyalty program for your customers. Make it a game for them to play, fun for them to have.

 

Now, let us rub minds. What are your thoughts on increasing sales with loyalty programs? Discuss with us on our tweet-chat activity on Twitter with the hashtag #TweetChatExcellaid.

http://www.excellaid.com.ng/blog/a-secret-that-increases-sales-by-150-percent
Re: A Secret That Increases Sales By 150% by hahn(m): 6:22pm On Oct 09, 2015
I agree with this. Business is not all about making money but more about satisfying customers. When a clients feels happy about an order or the way they are treated, they instantly become your advertising managers. For free!

Free gifts, free shipping, discounts, royalties, 24hours customer care service etc are very effective ways towards satisfying your customers.

Satisfy your customer first and then sales will come.

Nice one op

1 Like

Re: A Secret That Increases Sales By 150% by labimide: 9:37pm On Oct 10, 2015
hahn:
When a clients feels happy about an order or the way they are treated, they instantly become your advertising managers. For free!

You are very on point Hahn, the best of goodwill a business can enjoy is for customers to become their brand ambassador. And that is what MLM firms try to leverage on.

1 Like 1 Share

Re: A Secret That Increases Sales By 150% by mayorall(m): 10:06pm On Oct 10, 2015
Great tip.

1 Like

Re: A Secret That Increases Sales By 150% by joewizzy247: 10:21pm On Oct 10, 2015
thanks op. Noted. Pls click d link below.i beg of you all.plsss. http://PayRefe.com/?ref=138242

1 Like

(1) (Reply)

Looking For China Supplier In Industrial Machine / Please Help 1688.com / Ifeanyi Ubah: I’ll Use Street Knowledge Not Academics To Crash Dollar

(Go Up)

Sections: politics (1) business autos (1) jobs (1) career education (1) romance computers phones travel sports fashion health
religion celebs tv-movies music-radio literature webmasters programming techmarket

Links: (1) (2) (3) (4) (5) (6) (7) (8) (9) (10)

Nairaland - Copyright © 2005 - 2024 Oluwaseun Osewa. All rights reserved. See How To Advertise. 10
Disclaimer: Every Nairaland member is solely responsible for anything that he/she posts or uploads on Nairaland.