While it’s great to have customers who are willing to visit your website or come into your store or office, if those customers aren’t spending money with you, then there’s very little chance that your business is going to be a financial success. And although you may think that you can have little control over how much money your customers or clients are spending with you, there actually are quite a few tactics you can try to encourage people to spend a larger amount of money with your business. To show you how, here are three tips for getting customers, even those in Generation Z, to spend more money with you.
Focus On Lifetime Customers
Just because someone is choosing to spend money with you once doesn’t mean that they’ll instantly become a lifetime customer. However, it’s these lifetime customers that end up spending the largest amount of money with you, even if they don’t make the largest single purchases each time. According to Sheryl Nance-Nash, a contributor to Intuit Quickbooks, only 20 percent of your customer base are providing you with 80 percent of your sales. So before you put all your efforts into getting new customers, think what you can do to bring back some of your existing customers instead.
Showcase Benefits Rather Than Features
When it comes to selling your products or services, business usually naturally focus on telling their customers about the features that are offered. However, according to Eric Siu, a contributor to Entrepreneur.com, it’s the benefits that usually make the sales happen more frequently. This means that rather than sharing what’s great about your offerings, you share how making these purchases will make the lives of your customers better. By changing your marketing, you’re more likely to attract the type of customers who are willing to spend more money with you on a regular basis.
Provide A Bag or Cart
If you have a brick and mortar store, one of the best things you can do to encourage your customers to spend more money with you or buy more product is to provide them with a bag or cart to hold their items. According to Quentin Fottrell, a contributor to Market Watch, if your customers are walking about with a large bag or cart, they’re more likely to want to fill those spaces up with products rather than walking around empty-handed. And when this happens, they’re also likely to spend more money with you.
If you’re looking for ways to get your customers to spend more money with you on a regular or long-term basis, consider using the tips mentioned above to make this happen.