I’ve had two just this week, and although I can see the reason they do it, all it does it makes me want to look at their competition to see who can match their offer. This is not the answer to business retention.
There’s always a cost to the acquisition of new customers and not just from the loss of income from the special introductory prices.
Make your loyal customers feel special by putting together bonuses, deals or events which are exclusive to them. This demonstrates your appreciation of their custom, as well as potentially prompting additional business.
Add value to attract attention, set you apart from the competition, and stimulate further sales. Give people an incentive to try something new, buy something different, or make a return visit.
Allow existing customers to ‘Try Before You Buy’ to encourage them to try something new or entice them away from a competitor for a product they don’t normally buy from you, with no risk to them. Hold taster events for your new offer or service, and invite existing customers to try out your latest facilities and experience what you offer first-hand, or invite them to bring a friend or customer with them for free next time.
By the way, this is a great way to get feedback too before you take a new product or service to market.Share This: