What are the secrets of the most profitable franchises? Every business owner wants to find ways to make their business more profitable. There are a lot of ways to do it, whether you are lowering costs, increasing traffic, building more revenue streams, or cutting labor. The problem is that none of these methods are easy; if they were, every business owner would be a successful one. But there is one thing that can impact your bottom line almost more than anything: attracting more repeat customers. These are the customers who come back to your business time and time again. Those customers are doing more for your business than just spending their money with you, too. It’s time to learn more about why these customers matter the most and how to create more of them in your trampoline park or other franchise.
Why Repeat Customers Matter
It’s less expensive to bring a repeat customer in than find a new customer.
You spend the majority of your marketing budget on finding new customers. That marketing money has already worked on a customer who has come through the door; you’ll need to spend a lot less money on marketing that brings them back in the door. On average, it will cost you five times as much to bring in a new customer as it does to bring a previous customer back in the building. When every dollar in your budget counts, that’s a big deal.
Repeat customers will promote your business for free.
Customers who come into your trampoline park or other business repeatedly are going to talk about it. They’ll mention it to their family and friends, post photos of their kids enjoying their time on social media, and bring other kids and parents along on the next trip. That’s all free word-of-mouth marketing and some of the most effective marketing available to your business. People are much more likely to try a business or service for themselves when they hear about it from a trusted friend or family member.
Repeat customers spend more in your business over time.
This doesn’t just mean they spent time and time again, although they do. It’s actually the total of their sale that will increase over time. They might come the first time with their own child, but the next time they’ll bring a couple friends, and the time after that they’ll host their birthday party at your site. The more a customer spends with you and likes the experience, the more they are likely to spend on their next visit.
Repeat customers can get you through the lean times.
A strong business is built on repeat customers. Having a customer base that comes in over and over establishes a strong customer base. These are the customers who will continue to spend with you even in your off-peak periods, giving you the income you need to stay afloat until the peak season arrives again. That kind of loyalty is something that’s worth its weight in gold.
How to Turn Customers Into Repeat Customers
So how do you turn your customers into repeat customers? It starts with giving them a service that they actually want and that their kids enjoy. But there are a number of things you can do beyond that to make your business even more special to them.
Provide incredible customer service.
This seems like an obvious tip, but it’s really the most important one. You should treat your repeat customers with the best customer service possible because they are the ones who are keeping the doors of your business open. Little things like an occasional free drink, helping them with the doors, or just a friendly smile can make them feel welcomed to your facility and like they are a valued customer.
Give them incentives to come back again.
Incentivizing customers to come back again really works. Give them a coupon for their next visit or create a loyalty program that rewards them for their repeat visits. These little extras don’t have to cost you a lot as a business owner but can build a lot of goodwill and incentive for your customers to visit you again soon.
Build a community with your customers.
People want to feel like they belong to something, and when they are your customers, they do! Build a community with your customers by sending newsletters, hosting special events, or signing them up for a loyalty program. This makes your business a community they belong to and love!
Want to put these ideas into practice? Build your own customer base with our profitable franchise. Contact us today to learn more!