How to Attract New Customers and Retain Existing Ones

In our world today, there are so many products being rolled out everyday for an ever increasing population. Therefore, you as a business owner must be ready to go with the trend and adapt as quickly as possible.

No we know you might have done all the necessary market/industry analysis, created a unique product, conducted your SWOT analysis and finally launched your product, only to see just few customers patronize you; Don’t think it’s juju or the people from your village. You might not just need need to do something a little bit more.

Ever thought of offering incentives to your new customers? Sometimes you need to entice and motivate customers to patronize you instead of your competitors’. Incentives could be in store credits, products, services, airtime and so on.

We’ll give you 7 tested and proven incentives that work!

 

Create promotions

Most of the popular brands are doing it so why shouldn’t you? A good example is somebody selling lands. They can offer you a promo to buy 5 plots of land and get 1 plot free. Whether you are new in business or you have been running your business for some time, product promotions are what new customers and current ones can hardly refuse!

Offer Rewards for Loyalty

This works for existing clients or customers. For example, customers that have patronized you more than five times can be entitled to a discount on their next purchase; or a car wash can say, Wash your car with us five times, keep your receipts and get one free wash.

Create referral reward

Uber, the popular Taxi cab brand used this for their growth hacking. Here, your customers would be using the most effective and cheapest marketing method for you. It is called “the word of mouth”. You can incentivise after the third or fifth referral

Offer discount on bulk purchase

If you work with distributors, they will really appreciate this incentive. It will also endear them to you and as well bring you more customers than you can personally seek for. Investors would also come knocking at your door. For instance, you can offer a 15% discount on purchases above N70,000 depending on what you consider convenient for you.

Reward new customers for their first purchase

For a new business, this will help you as  you can offer a small discount for first time purchases. You must make whatever the customer stands to get real and tangible and attractive enough for them to want to purchase your product now now.

Give free samples

Consider giving free samples to a lucky set of subscribers picked or selected at random

Run a competition or giveaway

A purposeful and targeted competition relevant to your brand and market would give you a leap to attract more customers. A good example is a raffle draw. They want to know the winner. They will keep buying as they look forward to the next competition you are going to run.

Offering incentives is the fastest way to a new customers’ hearts in this modern world. So embrace is and keep offering them incentives they cannot resist. You will be sure to see an increase in patronage in no time!