Many businesses, large and small work very hard to sell their product or service and once they do, they stop. This makes me sad! Very sad! Smart businesses not only work hard to sell their product or service, but they continue to work hard, post sale, to nurture relationships, fill additional needs of their customers, and take sales to the next level. This is also referred to as working to increase the lifetime value of each customer.
This might sound great, but one of the biggest reasons businesses stop working hard to sell, post sale, is because they don’t know how to do it. These strategies are often times technology driven and let’s be honest, most of us don’t get it. But fear not, with some help from a killer developer or development team, your business can be a remarketing machine!
So let’s talk about the five ways to generate more revenue from your customers post sale.
Pitch Complementary Products
The first thing you should do to help grow your sales is to recommend complimentary products immediately based on what was purchased. You should recommend related products on the thank you page. If your customer bought a iPhone case, pitch them screen protectors, chargers, etc.
Very similar to pitching complementary products on the thank you page, you should be pitching them in the order confirmation email. If you think about it, when was the last time you ordered something and immediately went to your email to make sure the order was received? Uh… like yesterday! And I do it 100% of the time and so do your customers.
In these emails you can pitch the same products you did on the thank you page or a whole new set of related products.
In most cases, you should know exactly who your customers are and what they purchased from you. Well, your database should know. A few days post sale, you should be sending out custom offers to your customers based on their interests. These emails can include related products (like above), related content published on your site, but most importantly, some sort of trigger, like a discount to re-engage and bring them back to the website.
Dynamic Email Content
Get crazy with your emails… Just kidding! Nothing too crazy anyway. For those unfamiliar with dynamic content, this allows you to display the name of the customer, the product they purchased, recommend products, etc right in the email subject and body. As you can imagine, this is a pretty powerful strategy because the emails feel very personalized and tend to have higher open and conversion rates.
Lastly, retarget your customers. Tap into a network like Adroll or the Google Display Network and serve your customers ads pitching a discount on their next purchase or related products complimentary to their most recent purchase. Retargeting basically allows you to “stalk” your customers online with ads that hopefully bring them back to your site to spend more money with you.
By investing time, energy, and money into nurturing relationships with your current customers, you will grow your revenue and customer lifetime value dramatically.