What's Your Customer Worth?
Do you have an accurate concept of your customers' value to your online business? You're way off base if you think it's just the price of your product, because that's just represents the value of a customer's first purchase.
A more important number to know is the "lifetime value" of a customer. Did you know that you'll spend five to seven times more money and more effort to gain to a new customer than you would to get another order from a current customer?
That's a general rule. For some products, prospects may need even more contact and visits to your site before they click the order button. Nurturing your customers is an important way to increase your overall sales.
By the time you send out a new product pitch, you've already developed a rapport with your prospects and customers, so they'll want to know what you're offering. It can be challenging for buyers to find high quality products being sold by reputable, trustworthy sellers, so selling a good product that's backed by a solid guarantee and delivered in a timely manner will make your customers much more likely to buy again.
To keep your customers buying, don't flood them with just any offer. Make sure that you send product offers that match the customer's prior purchase type and overall price range. Some customers like to download information products while others want to receive CDs or DVDs.
Knowing your customer's preferences is essential, because that's how you'll know that you're offering what the customer is most likely to buy. One of the worst mistakes you can make is flooding your customers with every type of offer, because they'll soon delete your emails without even opening them.
You want a customer to see your email and say, "I want to see what's new today!" That's the kind of response that means a long term buying relationship. What sets you apart from other Internet marketers is in the way that you nurture connections with your customer.
Send your customers a free "customer appreciation" gift from time to time. If you send one that's not part of an order, you'll really help yourself stand out. A free gift is an effective way to remind your customers to come back to your site and check out your new products.
Let your customers market for you by offering a discount or bonus item when they recommend a friend who purchases your product. A loyal, repeat customer is gold - treat them as the valuable asset that they are to your online business.
A more important number to know is the "lifetime value" of a customer. Did you know that you'll spend five to seven times more money and more effort to gain to a new customer than you would to get another order from a current customer?
That's a general rule. For some products, prospects may need even more contact and visits to your site before they click the order button. Nurturing your customers is an important way to increase your overall sales.
By the time you send out a new product pitch, you've already developed a rapport with your prospects and customers, so they'll want to know what you're offering. It can be challenging for buyers to find high quality products being sold by reputable, trustworthy sellers, so selling a good product that's backed by a solid guarantee and delivered in a timely manner will make your customers much more likely to buy again.
To keep your customers buying, don't flood them with just any offer. Make sure that you send product offers that match the customer's prior purchase type and overall price range. Some customers like to download information products while others want to receive CDs or DVDs.
Knowing your customer's preferences is essential, because that's how you'll know that you're offering what the customer is most likely to buy. One of the worst mistakes you can make is flooding your customers with every type of offer, because they'll soon delete your emails without even opening them.
You want a customer to see your email and say, "I want to see what's new today!" That's the kind of response that means a long term buying relationship. What sets you apart from other Internet marketers is in the way that you nurture connections with your customer.
Send your customers a free "customer appreciation" gift from time to time. If you send one that's not part of an order, you'll really help yourself stand out. A free gift is an effective way to remind your customers to come back to your site and check out your new products.
Let your customers market for you by offering a discount or bonus item when they recommend a friend who purchases your product. A loyal, repeat customer is gold - treat them as the valuable asset that they are to your online business.
About the Author:
To learn more about marketing on the internet at St Louis SEO. St Louis SEO provides internet marketing services to local businesses and help them dominate their local online market.