Studies have shown that people who have purchased a product or a service in a store 4 times, is more likely to purchase more than 50% of his or her needs from that kind of store or company in the future.Â This is what we call repeat business. Aside from continuing support, this kind of loyalty increases a companyâ€™s revenue without too much persuasion from your marketing and sales department.
Business analysts have seen that one of the main things why people choose to come back is because of transaction management and post-deal performance. Now you know the reason how customer loyalty is cultivated, itâ€™s time to learn how to grow repeat business.
Be CRM Savvy
CRM stands for Customer Relationship Management. CRM in a nutshell, is software that helps you with your customers by sending them e-mails, updating social media, answering customer questions, and lots of different things. There are a lot of CRM software that you can purchase but before you buy one, list all of the things that you need and check if a certain CRM software has it. If you feel a certain CRM software fulfills your every need, then give that one a try.
Aside from the advantages that Iâ€™ve mentioned, CRM also keeps track of your customer’s other networks or relationships via Twitter or LinkedIn. It also keeps a record of deliveries (if you have any) order requests, Â and service payments. If you donâ€™t have any extra money for this kind of system, there are free web-based CRM systems that can give you a hand in your martial arts business. Some examples of free CRM systems are Pipeliner, TopSales Basic, and Sonar CRM.
Every time I and my family book a room in a hotel, some managers knock on the door and ask â€œHowâ€™s the room? Â Do you need help with anything at the moment?â€ I really feel that the manager wants to provide top notch service, and it becomes one of the reasons why we come back to certain hotels. You can also use this strategy to make sure that you can grow repeat business. Ask customers about their experience in your school. Check if what they bought from you is up to their standards. Itâ€™s one way of showing them that you really care while personally knowing what happens after a transaction has been completed.
Refer Customers to Other Businesses
For example, if youâ€™re a martial arts school that doesnâ€™t sell merchandise, you can refer customers to a trusted store. You can also go out of your expertise and suggest other businesses like restaurants, car shops, or anything on your network. You can know what about your customerâ€™s other needs by having a chat with them. It shows how much you care about your customers, and it will also motivate other businesses to do the same to you.
If youâ€™re not doing these tactics then donâ€™t worry, it will feel natural as time goes by. Youâ€™ll soon realize the beauty of repeat business, which will increase your sales and subscriptions by 50% while only taking up a small fraction of marketing and sales budget.