Increase your Income from existing customers through Social Media - Blurbpoint

Posted by Sanket Patel

May 11, 2012

Social Media 14 min read

Increase your Income from existing customers through Social Media

Is it possible to keep existing customers happy by using social media?

Are you wanted to know how to increase income from existing customers through the social channel?

Through below given post, you can know 5 different tips to gain more revenue from your existing customers by using social media?

Why to give focus on existing customers?

There are various companies for which connecting with their existing customers are completely natural fit for social media. All these are looking conversation regarding their competitors, brands and their industry which offer them with an opportunity to connect others in dialogue.

On the social media channel, there are mainly two types of strategies which revolve around existing customers. First is that to provide customer service help through social channel and we have already seen some excellent examples of this Comcast and Boingo that have successfully addressed customers concerns with social media.

When it comes to talk about second strategy, it is to attempt to boost value to the customer experience with social channel. You can also see best examples of this Radian6 and InfusionSoft. For companies, the value of the customer base is considerable. As we all know that to get new customer it costs more than to keep your existing ones. So, there are lots of companies which are developing different strategies to connect with their existing customers with social channel.

For various companies, social media represents a cheap way to connect customers in two different ways dialogue as well as develop deeper relationships. Relationships are advantages which is extremely difficult to get with other marketing channels.

The below given 5 tips offer a framework for how you can adjust your strategies to make sure that they benefit from most often unnoticed opportunity for increased revenue: customers.

1. For making more frequent purchases, give customers incentives

You have ability to boost income by motivating customers to make purchases more often no matter whether you are in a service or product based industry. It means endorsing add-on services, upgrades or premium offerings for service industries. It comprises motivating customers to come back more often for product industries. You know, how can you do this with social media?

You are also able to offer deals and specials which are exclusive to your social media followers based on the level of customers or the frequency of purchase.

2. Make sure to give reason to customers to spend more at single purchase

When it comes to two second way by which you can boost revenue from existing customers is to get them to spend more at each purchase. If your average transaction is $35 then you have to keep goal of $50 as it can also be proficient by exclusive deals for social media fans and followers. Many times, you may have seen coupon campaigns which are specially designed to get this.

Coupons like $25 off and $100 purchase are intended rising the amount spent at each purchase. There are service industries which are looking to promote package deals for their services which bundle offerings together. In order to drive awareness of the offerings with a clear call action, the social channel is used.

3. Join offers of Email Marketing

You make sure that it is much essential to maintain a balance of content also on your social channels.

Keep in mind it’s important to maintain a balance of content on your social channels. The general rule is less than 20% of your content should be about your company. Therefore, a mix of your own content with information from relevant third parties is important.

The last thing you want is to have a social channel that is flooded with deals and promotions with very little customer engagement.

It will be important to think through why a customer would be interested in buying what you are offering and what the process is for them to actually make a purchase so that you can optimize the path to conversion from the social channel to the sales funnel.

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