The primary focus for all online businesses should be to continually improve customer retention. Unfortunately, many online marketers overlook this important activity in an endless quest for more traffic and new customers.
But the importance of customer retention can’t be ignored. The truth is that an existing customer is more likely to be your best buyer. In fact, studies have shown that 80% of your sales will come from 20% of your customers. So how do you retain those happy 20% and make them feel valued? The answer is by speaking their language – that is, understanding their needs in relation to your niche or industry so that they feel understood, not just talked at or to.
Attracting high value customers is an essential component of running a successful long-term online business. It not only earns good money but also means that your customers are more loyal to you and your products. When you are able to clearly identify high value customers it’s going to make a huge difference in your return on investment and also in your overall attitude towards your business.
Here are 8 steps to help you attract high value customers to your business and avoid the frustration of building a database of ‘tyre-kickers’ who take all they can from you for nothing but have no intention of buying.
If you know how to get customers to buy from your website, then you can increase your sales and your conversion rate. And that’s got to be good for your profit and your online business.
It’s often said that you should give people what they need, because that’s what they are going to buy. That may well have been the case once but today society has changed and people no longer buy what they need.
Instead they buy what they want and what they crave. So you see people struggling to put food on the table, but have a 42inch plasma TV, satellite system and a bottle of Jack Daniels!