In the case of physical products, things are different. But if a customer wants to return something because it is not useful or is defective, the most profitable option is usually to accept its exchange or return.
You may have a sunk cost at the time -- the sale was a cost -- but in the long run the customer will have a good opinion of you and you will increase the likelihood that they will make a repeat purchase.
Strategy #4: Customer loyalty program
Customer loyalty programs are a way to clearly define a series of rewards for your most frequent customers.
Although it is normal to treat customers who bring in more business better, there are companies that have a structured process to give these advantages. If a customer knows that they will be treated better no matter what after a certain period of time, they are more likely to decide to make that effort to become a regular customer.
A loyalty program doesn't have to be complicated. It can be as simple as giving points, discounts, or meeting certain conditions.
Here are some examples of loyalty programs:
Accumulate points: Companies like saudi arabia email list Madagascar Mascotas to later get free flights.
Discounts on the next purchase: Burger King does this continuously, offering this promotion on the back of each receipt.
Longevity discounts: the more years you stay with them, the lower your bill. An example of this is Pepephone, which reduces your fee by €1 for each year you stay.
To implement a customer loyalty program, it is best to start with something simple that your current customer base can benefit from. First of all, it is important to measure the success of this campaign and get concrete numbers that tell you both the cost of the investment and the results it brings you.
Strategy #5: Send gifts and merchandising
We all like gifts. No matter how small they are, they are something that brightens our day and rarely makes us feel bad.
If you are looking to build customer loyalty on a personal level and want to have a closer relationship, you can set aside a dedicated budget to send gifts regularly to your most loyal customers. This is a way to strengthen your relationship.
Gifts don't have to be a big offering--in fact, it's the gesture that counts. Here are some examples of things you can send:
A bag with candy
Cups
T-shirts
Office supplies
Stuffed animals
The type of gift that will resonate most with your customers depends on your products and how you market yourself. For example, if you sell to other businesses, a mug for their office might be useful.
Something to keep in mind is how you do your gift. You can do it when a customer has spent a certain amount of time with you, OR you can do it at the time of purchase.
