5 Ways Social Media Can Increase Your Revenue From Existing Customers
Significance to Kellogg’s:
Creating an online experience that is fresh and informative for existing customers as well as potential customers is a target many industries aim for. Using the extremely cost efficient social channels to increase revenue is a smart move but must be executed delicately. Destroying the conversation with a deluge of sales pitches can stifle the experience.
There are two types of strategies that revolve around existing customers on the social media channel. The first is to offer customer service help through the social channel. The second is to attempt to increase value to the customer experience through the social channel. The value of the customer base for companies is substantial. We’ve all heard that it costs more to get a new customer than to keep your existing ones. So it makes sense that we would see more companies developing strategies to engage customers with the social channel.
- Give Customers Incentives for Making More Frequent Purchases
- Give customers a reason to spend more at each purchase
- Combine email marketing offers
- Educate your customers about your other products and services
- Provide consistent value