Customer Service: Maximized Profit Potential
In brick and mortar stores there is a software application that has provided additional sales and is geared toward customer satisfaction. When customers are checking out at a retail shop they may be made aware of complimentary products that are geared specifically to the item they have just purchased. If they are purchasing a dress, the clerk may make them aware of shoes or jewelry that may be a good fit to complete the ensemble. A customer might also be provided with a store coupon for a complimentary product encouraging a return visit to the store.
In the world of retail this is called "Point of Sale" (POS) information. The data is loaded into the cash register to allow clerks to have instance access to details regarding items that the customer may be interested in.
This concept is in play every time you so through a drive-thru and are asked if you'd "like French fries with that?"
In online marketing you can adopt a similar process. In many cases you will find online retailers placing a section below your shopping cart that indicates that other customers who purchased your product also purchased other items. Then the retailer provides photos and simple descriptions of complimentary materials.
There is always cost in gaining new customers. This cost comes in the form of advertising. This advertising could come in the form of Pay Per Click (PPC) or other Banner ads or even means of advertising such as Google Adsense.
The other primary means of additional sales in a cost effective environment is through the use of repeat sales.
Once you gain a customer you have likely developed a sense of trust with the client. When you return to that client a month or so following the sale they may be more likely to look at your offerings with a greater degree of interest. Since they are already an established client you do not bear the cost of additional advertisements and essentially risk little capital in reaching out to existing and satisfied customers.
Statistics indicate that up to 40% of your existing customers will respond to future sales information you provide.
Essentially any point of sale revenue is a welcome source of income, but the sale of products or services to clients who already trust you is a means of accelerating profit while keeping overall costs down.
By combining the approaches of add-on sales in the beginning and future sales post-checkout you can maximize the online experience for your customers, meet your client's felt needs and improve your own bottom line.