Stickiness Isn’t Just For Web-Based Businesses
In my oversimplified world, there are three main challenges to building a successful web presence: you have to get people to your site, get them there more often, and convert them on your call to action. You're site needs to be sticky.
In brick-n-mortar businesses it's the same: you have to get more people aware of and visiting your business (more new customers), you need to get them to visit more often (more repeat business), and you have to increase your rate and volume of business (greater transaction values).
Without repeat customers, your businesses revenue model is based upon continuous new customer acquisition. A business without repeat purchases works in some markets, but for most, the party ends all too soon.
How do you get people coming back to your business time and again? How do you get more and more customers to return? How do you get more customers to return more often?
Promotions, giveaways, contests, sales, close-outs, seasonal offerings�…they've all been tried by many. Some work better than others; some have little affect at all. Great products and services are a given. But what puts you over the top? Sometimes just adding a fraction of repeat business makes all the difference in the world.
Cross-sells, up-sells, and down-sells are all interesting; partnering and expanding your offering are possibilities. In my own business, down-selling has expanded my market. Packaging services and creating market specific solutions has helped expand my business. Sales, giveaways, and attempts to create urgency in purchasing haven't made any noticeable changes.
But what works best for your business is all that matters. There are no set answers.
If you own or operate a business, what are the best tactics and strategies you've used to attract and retain repeat customers? What are the most effective tactics and strategies you've noticed in other businesses? Lastly, why do you think they work so well?
Management | admin | 01 December 2005 |
