Do you put most of your focus on attracting new customers?
Many marketing teams do. But your current customers are perhaps even more important. There are plenty of stats to prove this:
There’s a 60% chance that a customer will buy from you again after having bought from you once. By contrast, there’s only a 20% chance that your marketing will snag a brand new customer.
The amount that repeat customers spend increases as they become more loyal to your brand. A Bain & Company study highlighted this. It found that customers spent an average of $178 during their first six months of buying from a company. By the 30- month mark, they’re spending an average of $357.
On top of that, there’s the cost of acquisition. It costs you five times more to get a sale from a new customer than it does to get one from a previous customer.
How can promotional merchandise help with customer retention?
- Deeper brand engagement
Today, many businesses are monotonous when it comes to showcasing their brand to customers. While business cards definitely serve a purpose, chances are they’re resting deep in the recesses ofsomeone’s wallet, discarded or forgotten. They just don’t stand out to customers anymore. On the other hand, branded merchandise helps you to inspire brand loyalty because you give your customers something useful that has your brand attached to it. This deepens their engagement with your brand and you’re more likely to keep them shopping with you.
- Customer care
In an era where everything is digitized and virtual, sometimes people like receiving something tangible that they can use in their daily routines instead of impersonal discount codes or email links. Simple items such as pens, mugs and bags will help you stand out from the competition and let your customers know that you value them. When they find out that you care about them enough to give them something useful, free of charge, they’re more likely to patronise your products and services instead of purchasing from your competitors.
- Lasting brand exposure
Branded merchandise is an excellent way to increase your business’s daily exposure. For instance, if you work in the health and fitness industry, you can give away pedometers or tracksuits with your logo printed on them to loyal patrons. They’ll use those itemswhenever they’re doing their daily exercises, allowing them to develop a strong liking for the item which will evolve into a strong familiarity with your brand.
What about brand reputation?
Branding is more important in the modern marketplace than ever before. Recognition and reputation are everything to today’s consumer.
The rise of the web, and social media, in particular, is a key factor here. People will go online to research your business and read reviews. That’s why 97% of business owners believe that online reputation management is important.
Branded merchandise can help you to improve your brand reputation.
A good promotional product inspires positive sentiment in the consumer. In fact, 25% of people say they have a more positive impression of a business after receiving a branded Product.
Again, it comes down to building engagement with your consumer base. Branded products help you to do that. Plus, they help you with the reputation management that business leaders consider to be so important.
Improve Customer Retention and Brand Reputation with Promotional Centre
Branded merchandise is one of the most effective marketing tools at your disposal. It solves many of the issues that keep marketing teams awake at night. Going the extra mile for your customers will convert them from casual buyers into loyal patrons, and there’s also a strong likelihood that they’ll share positive reviews about your brand with their friends and family.
At Promotional Centre, we have a wide selection of promotional products that will make you stand out from your competitors, retain customers and spark interest for your company. From clothing to drink bottles and caps, we can customise a wide array of merchandise to fit the unique requirements of your brand.
To see what else we have to offer, head to https://www.promotionalcentre.com.au/