Just a quick question, have you done a special for a “Love Your Customers day” yet?
With Valentine’s Day just 48 hours away have you thanked your customers? If you gave every customer a present do you think they would remember you? Now a box of chocolates would be pretty pricey but you can give a discount that might be just as expensive in terms of real dollars that aren’t earned. Is there a difference between dollars that aren’t earned and dollars that are spent?
Some may argue that there is a difference. But at the end of the day they are dollars you don’t have. Giving a customer a coupon that gives dollars off on a purchase is a very effective way to give that customer a reason to return to your business.
Advertisements that show a product or service can be purchased at a reduced price can be effective to get both old and new customer to come to a business and some would argue that a hand-out coupon just brings back existing customers. What you may want to consider is cost effectiveness of an advertisement and a hand-out coupon. The advertisement will be far less cost effective.
Is there a difference in the dollars from a returning customer and a new customer? No, I think not. New customers mean growth you often hear. Yes, that may be true, but without return customers you have no stability to your base sales.
Keep in mind that through word of mouth satisfied customers also mean exposure to new potential customers, their friends and family.
The one thing I can tell you is that you have to make your customers happy with you. If someone likes you, they are more likely to do business with you as people would rather work with and buy from people they get along with.
So use Valentine’s Day to make sure your customers know they are appreciated and even loved!
Remember if you aren’t, your competition is!
If you need help getting your sales messages out using printed material please give MI Printing a call at 623.582.1302 and see how we can help your business communications.
MI Printing, LLC