A Good Referral Means A Future Customer
Business owners and retailers know that they need to search for new methods to entice customers to return time after time. They accomplish this by seeking creative approaches to sales that give them the benefit of profits both now and in the future. With Valentine's Day coming up on the calendar, businesses realize that by rewarding customers with loyalty appreciation incentives, the fiscal results of each purchase may grow several times over.
When it comes to the sale or high ticket items, an excellent way to look for new clients is with a method known as referral marketing. With this concept, new customers find a retail establishment based on the positive feedback it receives from people like themselves. Much like direct referrals from friends and family, prospective customers are able to learn about new products without having to experiment on their own.
An effective way to achieve this is when customers are offered a system of 2x Loyalty Rewards for making their first purchase. With one initial purchase, they may be able to make another one for a certificate or gift card that can be redeemed at a later date. Their reward for being a loyal customer may involve some sort of service that is offered either at a lowered price or with a more timely result as a "thank you" for the money they have spent.
Retailers who deal in jewelry and gift-ware may choose to offer customization options on an item that has been purchased. This can be a personal inscription on the piece or a decorative box in which to present their gift. Small businesses have been known to give their loyal customers such services as on-site gift wrapping and local delivery services as an enticement to shop prior to a holiday.
Companies that enjoy increased sales during the holidays need to take into consideration the advertising their competitors in the marketplace may do. Larger retailers and more prosperous merchants frequently take to the airwaves with radio spots and commercials produced for local television stations. Depending upon when these promotional spots are played, loyal customers may seek another shop in which to buy their gifts.
Reminding loyal customers about ongoing sales and special events is one way to circumvent this without going over budget. Customers will appreciate an email reminder about upcoming sales and discounts available just for them. Retailers who send out coupons and newsletters often find that this increases valuable referrals as they are shared from one customer to another.
