Beautifully Simple Repeat Customers Part Two
Invest to keep the customers you have and increase profits by up to 95%
As a cannabis dispensary or delivery service owner or social equity candidate, did you know that an average of 80% of your revenue is from repeat customers?
…and repeat customers make up only 20% of your user base?
You get it, you learned that shocking detail from Part One.
Mindset shift!
Instead of spending to attract new customers — INVEST TO KEEP THE ONES YOU HAVE
Studies show that even shifting a small portion of your budget to retaining customers, instead of spending just to attract new ones, will not only lead to impressive profits, but will put your business ahead of the curve.
If you’re still not sure investing in retention is worth your resources, consider this statistic: Even increasing customer retention by 5% (that’s not a lot!) will over time increase profits by 25% up to 95%. Ninety five percent.
Build a real relationship with your customers, don’t just scream “Buy! Buy! Buy!”
Do you like it when a company screams “Buy! Buy! Buy!” at you?
No one does.
It is crucial to build a relationship with your customers that does not feel like you are trying to sell something at every touchpoint. Think about how your business can build a relationship with customers that is beyond just selling.
Customers appreciate being able to access the business they choose to work with. It’s important to have a multitude of channels where customers can reach you and get a prompt response.
This is what makes customers keep coming back to you, and it hinges on investing in customer relations.
Design your program around what makes your business unique, and what makes your customers unique
By interacting with existing customers, you find out what they need, and can cater future experiences to them. This also helps people identify with your business, making them feel valued and motivated to return.
Nurture the customer relationship by offering new and improved products to your existing customers.
Loyal customers then help your business grow and expand as well because they want to share with their own networks the goodness they found with you.
Consider shifting some budget from marketing to loyalty programs
Marketing and advertising is expensive, and proving to be less effective than in the past, especially with online buying. Some industries like cannabis suffer from restrictions on ads.
Shifting investment from marketing into customer loyalty programs might be a smart move for your business. Implementing a rewards or loyalty program is key, and provides ongoing incentive for customers to return to your business repeatedly, and to refer their friends.
Retaining your customers takes time, work, and money, but it’s well worth it. Here’s a basic framework you can use:
Set your goals based on data you have gathered and analyzed
Then:
- Build successful customer retention strategies.
- Execute an amazing customer experience plan.
- Add value to this experience through a rewards or loyalty program, setting the stage for building on customer loyalty.
- Personalize all of it through targeted marketing in emails, promotions, etc.
Schedule a free 15 minute consult with Quincy Taylor, Drop’s Sales Director, now and we’ll show you, or read on.
Use tech and data to create a communication loop with your customers
Expectations shift, and your business has to be flexible and shift with those needs. Consumers now crave relevant and compelling interactions, and being able to provide this will keep you competitive.
The combination of technology and data makes it easy to retain customers, if your business utilizes these tools correctly.
How can you create a communication loop with your customers before, during, and after a transaction to ensure loyalty?
Creative problem solving methods are needed, ready for a customer’s unique needs.
The best option for all modern businesses in the retail delivery service is an integrated technology solution that allows customers to communicate with the retailer before, during and after a purchase, track the location of a delivery driver, and attach notes to orders and products, and more.
Loyalty and customer retention should be the goal from the first interaction, and it will lead to not only a more meaningful connection with your consumers, but also a hefty increase in your revenue.
Drop makes customer retention beautifully simple
At Drop Delivery, we live and breathe customer loyalty.
In fact, we built customer retention in every corner of our complete suite of cannabis delivery management software, so your day to day operation encourages customer loyalty and simply keeps customers coming back.
Drop’s intuitive branded app features real-time analytics, delivery tracking, and proof of delivery, you have valuable insights into how well your business is running and the ability to quickly adjust. Show them you get them. We then help you turn those satisfied clients into repeat customers by showing them you know who they are and what they like with Drop’s easy one-click reordering and personalized SMS marketing.
We’ll also help you customize enticing loyalty programs that include rewards points that can be used towards future purchases.
With a branded app like Drop, customers can quickly browse deals and promotions to keep them coming back. With a branded app, you will quickly establish your business as reliable, efficient and focused on customer satisfaction. With Drop, we hand you the keys to converting one-time customers into repeat customers.
We could go on, but the bottom line on customer loyalty is, at Drop we’ve got you.
Drop hands retailers a compliant turnkey solution for cannabis delivery management, including a branded mobile ecommerce app, last mile delivery logistics and a dashboard to manage everything from inventory to staff. We’ll show you how you can operate your business with everything you just learned about growing repeat customers, and more.
In 15 minutes we’ll show you how overnight you can turn on a proven, fail-proof customer retention program for your business. This same program helped deliver over $40M of goods and over 320K successful deliveries for Drop clients.
Schedule a 15 min consult with Quincy now or get on our list.
