Do you own a business? No matter what type of business you own you need customers or clients to be successful. Let's take the case of subscription boxes . Examples of subscription boxes are Ipsy (beauty,), Blue Apron(meals), and Bark Box(this one is for your dogs). What do you do make sure your potential customer not only sees your product, but they buy it?
The first thing you do is marketing and lots of it. If you have an online business(such as the subscription boxes), you advertise on the website and social media! If you have a brick and mortar store-front,you advertise there, your local newspaper,flyers, and word of mouth. You want those customers in your store making purchases. Right?
Now that you have that customer,you want them to keep buying from you,week after week or month after month. This is called customer retention. A repeat customer spends 67% more than a new one. So,you need to do things to not only GET customers in your store front, but retain them, too. You need some type of help to do this. You may need
product usage analytics. Most companies whether online or brick and mortar have a computer and software. To measure customer success companies offer a
guided tour software.
I have always said, "Time is money". The more time it takes to get and retain a customer costs you money. On the flip side, they longer a customer stays in your store, the more money they spend. Getting that customer to your store costs you money. In today's business world, you need software application that will give you all the information you need to track your products, your customers, your sales, and much more. This gives you the upper hand over your competitors to get and retain that customer.
Whatever your business may be,your bottom line is PROFIT. You did not start a business yo break even or lose everything you put into it. You want a profit and you want to keep having a profit month after month and year after year. Being able to understand you customer is key to that. The subscription boxes I mentioned before are very successful. I know they use some type of software to measure their analytics of their customer base. Ipsy will not send out the same beauty products month after month. However, they do offer a discount if you choose to buy a particular product from that box. That is how you upsell to a customer. They made you a customer by offering you a subscription box at an affordable price, they retain you by putting great products in that subscription box each month, and they convert those $10 month boxes by selling you the full size products from the sample sized that were contained in your monthly subscription box. That is a customer success story.
