New research claims repeat customers and word-of-mouth referrals accounts for 80% of small businesses’ revenue. Direct marketing specialists Ventas Central offer advice on how to encourage customers to make recommendations to their friends and family.
Customer loyalty matters to any business, Ventas Central explains, loyal customers are easier to up-sell and cross-sell to. Loyal customers are familiar with their favourite brands and this makes them more willing to investigate and try out new products. The probability of selling to an existing customer is 60-70% compared to only a 5-20% probability of selling to a new prospect. It also costs 7 times more to attract new customers than to hold on to returning customers. By concentrating on customer loyalty the brand will have respectively built its own army of free sales people ready to share their experiences and love for the brand through Word Of Mouth referrals. These loyal customers are also valuable for their truthful and quality feedback. Feedback is crucial to improving a brand and having strong relationships with loyal customers will give them the confidence to speak out about where the brand can advance.
Ventas Central is an outsourced sales company located in London. The firm works in partnership with their clients to develop strong sales and marketing campaigns that will help their clients produce maximum market penetration. Ventas Central uses direct marketing methods as it enables them to take the product directly to consumers. Their friendly and vibrant sales force engage in face-to-face interaction with both existing and potential customers. The firm consider this human interaction as the best form of communication as it provides customers with a personalised sales experience that is both unique and enjoyable. This unique sales experience helps to improve customer service and brand loyalty.
Word of mouth is one of the most effective forms of marketing. Potential prospects are much more likely to trust a friend or family member’s recommendation over a phoney advert or marketing scheme. To ensure all brands know how to utilise this form of marketing Ventas Central are offering their top three tips on how to encourage word of mouth recommendations.
Focus on the customer experience
The number one priority should be to ensure that customers have a great experience with the brand, no matter what product or service you offer. Customer loyalty, and in turn referrals, will follow from there. Customers who have positive experiences become loyal customers that are more likely to spread word of mouth recommendations.
Offer rewards for referrals
Customer loyalty programs are often based on a system of rewards for making purchases. Offering customers an additional incentive for referring a friend is a simple yet effective way to capture the potential word of mouth market. Giving one or both parties a specific discount gives regular customers an incentive to share their knowledge of the brand and their friend the incentive to shop there.
Listen to feedback
Brands can sometimes be the victim of today’s instant communication and social media updates, customers are more likely than ever to post about a bad experience with a brand and share it across various networks. Keep a close eye on what customers are saying and respond appropriately. It is crucial to listen to and address customer feedback. A relationship can most-likely be fixed if the right action is taken to rectify their experience or compensate them appropriately.
Ventas Central provides excellent customer service through their face-to-face interaction with consumers which ensures an enjoyable experience for customers. The firm makes a huge amount of quality sales through word of mouth referrals.
Press release distributed by Pressat on behalf of Ventas Central, on Tuesday 12 August, 2014. For more information subscribe and follow http://www.pressat.co.uk/