RENEWAL

REPEAT SALES

Resell and upsell to existing customers

Imagine you are a salesperson at a gym. Your faithful customer Matt lets you know that he would like to renew his membership. “Great,” you say, “Did you know that as a return member you can buy a two-year membership for only $50 more? In fact, we're offering a special promotion right now. When you renew for two years, we'll thRow in a Golf or Spa Getaway!”

As long as you've treated your customers well and delivered on your promises, reselling or upselling your product should be the easy part. You're selling to customers who already need or want your product. However, we understand that some customers still need a nudge in the right direction, and we have incentives for that. We also know how to help you master the upsell – in a significant way. Our incentives will add value to your already valuable product or service.

REFERRAL MARKETING

Generate referrals from loyal customers

Did you know that Texas Tech showed that 83% of consumers are willing to refer after a positive experience – yet only 29% do? This is a missed opportunity for many businesses, especially when you consider two statistics from Nielson: 92% of respondents trusted referrals from people they knew, and people are four times more likely to buy when referred by a friend.

As you lay out your referral program, make sure that you reach out specifically to satisfied customers; making such a request of those customers who are less than enthusiastic about your service doesn't generally work out too well. Customers participating in loyalty programs are an obvious choice. You can also target customers who respond positively to customer satisfaction surveys. If you don't have either of these resources, focus on repeat customers. You can also test where asking for referrals is most successful within the customer lifecycle.

Once you have established a target audience and laid out a plan for capturing referrals, consider how to reward customers who participate. A study by the University of Chicago found that non-cash incentives were 24% more effective at boosting performance than cash incentives. Our travel and lifestyle incentives provide an alternative to cash. A customer might forget the $20 you discounted from their bill, but a mini-vacation is naturally memorable.

CROSS-SELLING

Cross-sell products to customers

Cross-selling can be a profitable form of revenue for most businesses. It can be as easy as reminding customers about different products you offer, or as difficult as selling an unrelated product through a prearranged partnership. The key is to analyze customer data to identify what other products might interest your customers.

As in all sales, it is important to prove to your customers that an unfamiliar product is valuable. Our incentives can aid you in this effort, adding more bang for your customer's buck. We can help you pair the right incentive with your product(s) depending on cost, perceived value, frequency of purchase and product attributes.