Double Your Returning Customer Rate

For a business to see a continual growth in profits, it is vital to establish a reliant customer base for their brand. Returning customer rate is a common figure used by businesses to differentiate the percentage of returning customers from new customers. Two easy ways for companies to double their numbers within this figure is through the use of automated texting messaging platforms like Phlashlite and the online creation of QR codes.

What is a good customer return rate?

A company’s understanding of their repeat customer rate will offer insight as to which percentage of their customers are coming back for service. Repeat customers are inherent to a business’s revenue due to their tendency to spend more money and try new products. Generally, a repeat purchase rate falling anywhere between 20% and 40% is satisfactory. A company can calculate their repeat customer rate by dividing their number of repeat customers by their overall amount of customers in a given month or year. 

How to create a QR code?

Companies frequently send emails and newsletters to their customers. These periodic announcements give customers the chance to sign up for various service campaigns and promotions. For companies looking to take this marketing practice to another level, they can create custom matrix barcodes free of charge through an online QR Code Generator. The integration of QR codes in marketing campaigns is steadily gaining popularity among businesses today. 

Once scanned, QR codes have the ability to directly lead customers to CTA’s on a company’s website. This process can simply be done by copying the URL from the intended page and pasting it into the QR code generator. Incorporating QR codes into company newsletters will convert new customers into returning customers.

One way to use this technology is to have a card you leave behind after service that give 10% off for using us again or referring a friend. On the card have a QR code that goes to a form for repeat customers so you can track the progress.

What method of advertising is most effective? 

One of the most effective approaches when marketing to customers is through mass messaging of emails and texts. Text messages are statistically proven to generate remarkable open rates of 90-100%, while emails produce open rates ranging from 15-30%. With automated messaging platforms, companies can use pre-written templates to personalize each customer’s journey. 

When sending messages, businesses have the option to designate the recipients as either a select group of people or all of the contacts in their database. By applying a location filter, these messaging platforms even have the ability to target people living within a specific city. The transition from old fashioned letters to new automated technology is a good way to fill your schedule and quickly spread word about your business. 

The adoption of these simple marketing strategies, by businesses, can aid the change of leads into customers. By reeling prospects in and routinely communicating with new customers, a company’s returning customer rate is guaranteed to double. To schedule your meeting with Phlash Consulting and set up a demo today, visit our website.